Choosing the right vendor to outsource to is a critical decision that can significantly impact your operations, cost-efficiency, and overall success. Initial data collection on a potential vendor is an important part of the process as it allows you to get a sense of a vendor’s capabilities and security without an upfront time investment required to perform an actual risk assessment.
We have developed an Initial Data Collection Questionnaire to provide that insight prior to performing an in depth risk assessment and establishing a formal business relationship.
The questionnaire covers key topics:
- Vendor access requirements to your systems and data
- Data storage, privacy, and protection policies
- Vulnerability management and penetration testing
- Compliance with security frameworks and standards
- Insurance coverage
By gathering this information upfront through the questionnaire, we can better evaluate potential security gaps and risks when selecting vendors and the results can assist in initial vendor determinations.
The goal of this standardized approach is to:
- Reduce third-party security risks
- Help organizations compare multiple vendors early in the selection process
- Enforce baseline security requirements
- Build trusted relationships with vendors
We believe implementing this Initial Data Questionnaire is a practical and effective way to kickstart the vendor selection process. It enhances efficiency, consistency, and the quality of information gathered, and contributes to more informed decisions and successful vendor partnerships. It’s a tool that can save time, reduce risks, and ensure that your organization’s requirements are met by the chosen vendors.
Whistic customers can access the new questionnaire in our Questionnaire Standards Library.
Interested in learning more about the 40+ standards and frameworks — along with new questionnaires within hours for new common vulnerabilities or emerging standards — our customers leverage to move through the TPRM process fast? Schedule a hassle-free consultation with our team today!