ControlPath Inc., a leading developer of automated compliance management solutions, announced today that First Advantage Corporation (NASDAQ: FADV), a leading global risk mitigation and business solutions provider, has selected the ControlPath Compliance Suite 3.0 as the central software component of its comprehensive, company-wide Security Risk Management program. First Advantage evaluated tools from nine other vendors before selecting ControlPath.
ControlPathâs automated compliance management tools will streamline First Advantageâs efforts as it complies with all applicable governmental regulations and laws including the Sarbanes-Oxley Act (SOX), Gramm-Leach-Bliley Act (GLBA), Fair Credit Reporting Act (FCRA), Drivers Privacy Protection Act (DPPA) and state privacy laws. Headquartered in St. Petersburg, Fla., First Advantage has purchased approximately 50 companies since June 2003.
The ControlPath Compliance Suite, with its extensive security controls knowledgebase, coupled with robust workflow and enterprise risk reporting capabilities, enables an efficient compliance self-assessment and automated management of corrective actions and controls testing. With a library of more than 2,200 controls, ControlPath simplifies the creation of policies and the mapping of compliance regulations.
âCustomers today demand top-flight security and privacy, and using ControlPathâs software gives First Advantage the tools to address these demands. said Isabelle Theisen, chief security officer of First Advantage. âManaging enterprise risk and compliance are monumental tasks made significantly easier and more efficient with the ControlPath Compliance Suite.â
According to the ControlPath Compliance Progress Survey, managing compliance for multiple regulations is still highly manual and generally involves using multiple projects, one for each regulatory compliance mandate. Across the board, compliance costs continue to rise as more compliance regulations are being implemented within organizations. The same survey found that respondents who are either fully or mostly automated, as compared to those who are entirely manual, are more than twice as confident that they are in compliance.
âBecause First Advantage is required to comply with so many regulations, the benefits of the ControlPath Compliance Suite will be magnified,â said Scott Walker, chief executive officer, ControlPath. âWith the power to manage controls and compliance across any regulation, the software will greatly improve First Advantageâs efficiency.â