In the reactive world we live in, when a company needs to assess a vendor, they send a questionnaire, usually through email, which starts an often weeks long back and forth process to properly assess the security profile of the vendor.
It’s expensive and time consuming for both the requesting company (the buyer) and the vendor (the seller) that receives the request. There’s a much better way to handle this problem, and it’s the Whistic Trust Catalog.
If you’re a seller, you can use any of the standard security frameworks that are used by hundreds of thousands of companies all over the world to build your security posture. You can then publish that information to the Whistic Trust Catalog so others can see it. You can be proactive by publishing this information before being asked.
Being proactive in this way helps to quickly establish trust between companies, as well as reducing cost and saving time for both parties.
If you’re a buyer and want security information for a potential vendor, you can access that information immediately from the Trust Catalog. This completely eliminates the email back and forth that usually happens and allows the buyer to be proactive as well, enabling them to view information as needed without asking the same questions over and over again and waiting for results from each prospective vendor.
Imagine that you’re undertaking a large project that requires multiple vendors. How much faster could you onboard the needed vendors if you could immediately assess their security posture against your requirements?
Another benefit of the Whistic Trust Catalog is that it aggregates security and privacy information from well known and respected sources.
When making critical decisions such as which vendors to use in your business, you need the best intelligence available. Nothing is more important than securing your information—for both you and your customers. Whistic brings it all together in one platform.
Whistic has profiles for thousands of companies already in the Trust Catalog that you can access immediately. If you’re considering a vendor, leverage Trust Catalog first before asking for information that may already be available on-demand. If the vendor hasn’t yet published their profile, you can send a request through Whistic and track their progress all the way through.
Another difficulty of reactive vendor security is that it’s nearly impossible to create a complete picture of your vendors, including who is accessing which data, who is due for re-assessment, which suppliers still have unresolved issues in their assessments, etc. In the reactive world, you’d have to search through hundreds or thousands of files to gather this information.
As the single source of trust, all of your vendor privacy and security information is in Whistic. Combining the Trust Catalog with your existing inventory and documentation shared by vendors, gives a complete picture. That means that you can report on meaningful data such as: which vendors access our sensitive data? Which vendors touch customer information? And where are the most critical vulnerabilities across our vendor population?
Whistic facilitates both transparency and trust. It’s time to modernize your vendor security program. Leverage the only platform that supports both buyers and sellers and facilitates proactive security and trust.
Data Privacy and Compliance Officer, Formstack
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