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Assessment Copilot Ushers in a Modern Approach to TPRM

SALT LAKE CITY, May 6, 2024 /PRNewswire/ -- Today, Whistic is proud to announce the launch of Assessment Copilot, the newest addition to its groundbreaking suite of AI-powered third-party risk management (TPRM) capabilities. Whistic AI and Assessment Copilot automate the heavy lifting involved in TPRM at every stage of the process—reducing manual work, driving insights, and boosting operational efficiency so customers can focus on managing risk, not questionnaires.

When it comes to assessing third-party security risk, most companies still depend on a legacy, questionnaire-based approach that is labor-intensive and manual, diverting finite resources to administrative tasks rather than risk mitigation. These limitations make it impossible to scale TPRM programs and meet business requirements, even as organizations increase their reliance on vendors and the threat posed by third-party vulnerabilities grows.

Whistic is the only modern solution that transforms TPRM on both sides of the assessment process so vendors and buyers can exchange security information more easily and make smarter, more secure business decisions. Assessment Copilot automatically extracts context-rich insights from a variety of data sources, summarizes vendor security posture, and analyzes information according to customer requirements. This allows customers to perform richer assessments on more of their vendors, faster and without additional headcount.

Assessment Copilot and the broader AI suite represent a major leap forward in innovation that sets a new, modern standard for the industry.

"The future of third-party risk management is here," says Nick Sorensen, Whistic CEO. "Whistic AI infuses a modern approach into the core foundations of mature TPRM—automated workflows, a robust system of record, and integrated, continuous monitoring—and delivers a suite of capabilities that fuel a truly dual-sided exchange of information. In a world where every company is looking for ways to operate in a more efficient and secure manner, Assessment Copilot and our accompanying AI suite accelerate the pace of business and allow companies to reallocate resources from administrative tasks to risk mitigation. And this is only the beginning of the impact we will have on every business that interacts with the Whistic Network."

Whistic AI Suite Spotlight
Whistic's new Assessment Copilot introduces an AI-driven suite of capabilities focused entirely on a modern approach to vendor assessments:

  • SOC 2 Summary: Create a summary with a click of a button to extract key details and risk insights from SOC 2 audits, eliminating the need to read lengthy reports.
  • Vendor Summary: Using a vendor's documentation or trust center, quickly identify, assess, and measure risk and compliance against your controls.
  • Automated Review: Click to generate a vendor's final assessment report, review the findings, and make a risk-based decision informed by AI insights and automation.

Assessment Copilot builds on Whistic's existing, industry-leading AI capabilities for vendors and their customers, which include:

  • Knowledge Base Smart Search: Find answers to questions fast—search your entire library of documentation and see the search results in context with links to sources and confidence levels.
  • Smart Response: Reduce questionnaire response time from days or weeks to minutes with AI-generated responses to custom questionnaires. Review sources and confidence levels on auto-populated answers before sharing a completed questionnaire.
  • Smart Search for Vendors: Quickly find answers to questions about a specific vendor using available information and vendor documentation.
  • Vendor Insights: Ask questions and get insights across your entire vendor catalog without having to search through records individually.

For more information about Whistic's modern TPRM platform and AI capabilities, schedule some time with our team of experts. 

Vendor Assessments Third-Party Risk Management