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Is Your Vendor Assessment Platform Future-Proof?

September 08, 2020

In the last few years, the InfoSec and data privacy sectors have grown exponentially. From on-premise hardware and servers to fully adopting cloud-based, SaaS-focused security workflows, the InfoSec world of 2020 looks much different from ten years ago. If you’re like most InfoSec leaders, planning for this year alone isn’t going to cut it.

 

Looking Ahead—The Growth of InfoSec

As the SaaS world becomes more extensive and interconnected, the number of vendors organizations work with is growing. For each one of these vendors, security risks must be taken into account. This is where vendor risk assessments and questionnaires come into play. While your team may be using one or a few of the most popular security questionnaires out there, new assessments are released regularly—with assessment updates published twice as often. 

Staying ahead of the InfoSec curve, especially as it continues through this rapid growth, is key to staying on top of vendor compliance and privacy.

 

Is Your Vendor Assessment Platform Future-Proof?

Here are a few questions to ask to determine whether your vendor risk management platform is ready for future growth.

The platform has helped establish your organization as a security leader with your vendors.

First and foremost, you should look at the success you’ve had thus far with your current vendor assessment platform. It should both be easy for your internal team to use and instill a sense of confidence for your vendors.

Your vendors and customers trust the security of your vendor assessment platform, as well.
Many times, vendor assessment platforms are recommended to partners, clients, and vendors. How often do your vendors ask about the assessment platform you’re currently using? Would you recommend your platform to vendors you’re working with?

The platform allows for proactive—not reactive—security workflows.
Because of the rapid changes in the InfoSec world over the last few years, many security teams have been left scrambling and have been forced to make reactive security decisions to keep up with the times. Future-proof vendor assessment platforms allow for teams to be proactive, not reactive, in their decision making.

Your team has access to detailed metrics and insights to help make strategic decisions.

One of the best ways to know whether your vendor assessment platform is set up for future growth is in the numbers. If you can track success – and have the numbers to prove it – then your platform is more than likely able to take you through the next few years.

The platform vendor is continuously looking for new ways to innovate.

And finally, true future-proof vendor assessment platforms are built by teams that are constantly looking for ways to innovate and grow. If your current platform isn’t publishing update notices, asking for feedback, and upgrading its systems, then it might be time to start looking for a forward-thinking vendor that is.

 

Ready to Get Started?

If you’re ready to make sure you’re working with the most proactive, future-proof vendor assessment platform on the market, the Whistic team is here to help. Our organization is full of security gurus who can help make sure that your platform is up to speed and identify any vulnerable areas or gaps that need to be filled. You can learn more and get started here.

Risk Management vendor risk management security risk assessment third party risk mgmt proactive vendor security

About the author

Whistic
Whistic

The latest insights and updates on information security and third party risk management.

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