Phase 5: Proactive Solutions
In this final phase we examine what a dedicated, scalable vendor security questionnaire management platform looks like, including the inherent benefits of implementation.
A 2019 Ponemon Report indicated that leveraging security automation can decrease the cost of a data breach an average of $1.55 million ($2.88 million average breach cost, as compared to $4.43 million for those who had not deployed security automation).
Whistic’s Security Profile was custom built to help InfoSec teams operate efficiently while keeping the importance of sales/procuring business at the forefront.
General benefits of utilizing Security Profile:
- Leverage a secure platform to house your vendor security questionnaire answers — Across any number of internal orgs/teams
- Upload, Store & Share security documentation & attestations in a secure, central location
- Send & receive custom NDAs while maintaining data integrity
- Automated security questionnaire response workflows
- Standardize any knowledge base for immediate use and sharing
- Dramatically reduce your response time (from weeks to days), while increasing the rate at which sales closes deals (reducing sales cycle time, internal overhead, etc) contingent on security compliance.
- Acceptance rate of 70%+
- Delight your partners/customers by showing a robust security posture
- Implement & start utilizing in mere weeks
Picture if you will, the next time a vendor requests your business complete a security questionnaire, having the ability to deliver a dynamic, professional security profile that is current and ready for review.
To date, Whistic has been ecstatic with our customers sentiment around this powerful offering.
Simon Wynn, SVP of Software Engineering at Matterport stated,
“I was concerned that they (customers) would still require us to fill out questionnaires in their format. As it turns out, about 95% of our customers have been fully satisfied with the information contained in our Whistic Profile and we’ve almost completely eliminated custom spreadsheet questionnaires. In addition, both our customers and our sales team appreciate the incredibly quick turnaround we can provide with Whistic. Both parties are benefiting from our adoption of the Whistic platform.”
Dan Palmer, VP Compliance & Internal Audit at Finicity shared similar comments,
“Our Security Profile helps to build trust and to show our proactive posture and display a mature program to our partners. The flexibility to quickly change or modify our profile is also quite nice, it only takes a matter of minutes to send out Finicity’s Security Profile”
Any organization looking to better streamline security questionnaire responses and compete more adeptly in the modern IT vendor security ecosystem should consider implementing a proactive model as encompassed within Security Profile by Whistic.