For some InfoSec teams, building and perfecting the ideal vendor risk management process can be tedious. With so many moving parts—not to mention varying requests and requirements from vendors – it has long been assumed that the right way to deal with VRM processes is via manual workflows. While this may have been the case in the past, new tools and solutions make it possible for InfoSec teams to automate vendor risk management without sacrificing security and compliance securely.
Manual vs. automated processes
When it comes to vendor risk management, plenty of things are too important to leave up to chance and risk slipping through the cracks. A single assessment question, for example, or a missed vendor response can open up a gap wide enough for a malicious attack that could put an entire company (not to mention their partners and customers) at risk. So, from an InfoSec perspective, VRM operations have been handled by hand, with team members combing through every risk assessment and response to ensure complete compliance every step of the way.
Unfortunately, this manual operation means less time in the day to complete assessment audits and responses. With so much time wrapped up in manual tasks, some InfoSec teams are strapped for time and resources where they need them most. Luckily, there is a way InfoSec teams can automate and update some of these manual workflows without the risk.
Modern vendor risk management
By automating the vendor risk management process with Whistic or another modern VRM solution, InfoSec teams can streamline requirements gathering, compliance screening, and assessment responses without sacrificing security. Here is how the Whistic VRM process works:
- Your InfoSec team builds your Whistic Security Profile, which houses all of your risk and compliance information (that can be updated at any time).
- When a vendor assessment comes in, your Security Profile can answer any questions that come up automatically. Your profile can also be securely shared with potential vendors even before a request for an assessment.
- When questionnaire responses from vendors come through, the technology securely checks every response to ensure the vendor’s answers align with your security and privacy requirements.
- As updates or changes are made, the platform automatically audits existing vendor partnerships to flag lagging or outdated information for follow-up.
With Whistic, your InfoSec team isn’t replacing manual attention to detail with automation. Instead, Whistic leverages cloud-based technology to optimize your current workflows and allow your InfoSec team to be more efficient and effective in its day-to-day processes. With your InfoSec team leading the charge behind your automation solutions, your team can have both speed and security without any sacrifice.