Vendor Management Subscription

The contract involves a Vendor Management Subscription service designed to enhance cybersecurity oversight of third-party vendors. It requires the provider to deliver continuous monitoring and visibility into the security posture of vendors and their fourth-party suppliers, including details about infrastructure and installed products. The service must offer validated risk correlation related to potential security breaches, generate risk ratings segmented by business lines and geographic regions, and facilitate efficient onboarding and initial security assessments of new vendors. Additionally, the provider should supply post-sales support, training for users and vendors, and tools to operationalize the service effectively. The preferred vendor should have at least ten years of experience in the Security Ratings market to ensure expertise. The contract is set for a one-year period starting September 29, 2024, with a minimum of five vendor checks or monitoring activities, and provisions for additional checks at specified costs. The total contract value ranges from $500,000 to $2,000,000, reflecting the scope and scale of monitoring services. The Maryland State Board of Elections aims to select a vendor capable of providing comprehensive cybersecurity visibility and risk management solutions, supporting their broader organizational security and vendor oversight efforts.