New Security Passport Eliminates Spreadsheets and Serves as Evidence of Acceptable Vendor Security More Than 80% of the Time
NEW YORK, July 7, 2021 – Panorays, a rapidly growing provider of third-party security risk management, today introduced “Panorays for Vendors,” which focuses on reducing the vendor sales cycle by empowering Panorays’ vendor community to take a proactive role in their customers’ cyber due diligence.
Unlike other solution providers, Panorays combines automated, dynamic security questionnaires with external attack surface assessments, providing vendors with a single place to view and manage all of their customers’ security vetting activities. Using powerful new tools, vendors get full visibility and control over their risk profiles, and can save time on security questionnaires from customers and significantly accelerate their sales process.
Panorays for Vendors includes a Security Passport, which enables vendors to build and share a security overview with a self-assessment questionnaire and certifications with potential customers. The Security Passport has been found to suffice as evidence of acceptable vendor security more than 80% of the time, which results in significantly reducing the sales cycle. It also helps vendors eliminate the tedious task of answering repetitive security questionnaires and receive quick approval from customers.
In addition, a Security Profile provides vendors with full visibility into their cyber posture and specific cyber gaps, identified in Panorays’ external attack surface assessment. With full control over their Security Profile, vendors can dispute irrelevant assets to avoid privacy and legal consequences and mitigate cyber gaps to improve their rating. Vendors can also benchmark security posture to an industry range and track their cyber posture rating over time.
Panorays also provides vendors with:
- A prioritized list of mitigation steps with full information about specific cyber gaps and ways to resolve them
- Autocomplete questionnaire capability, suggesting answers to security questionnaires based on previous responses
- A centralized management dashboard to manage the status of submitted questionnaires and track remediation requests
- Easy and intuitive in-platform collaboration with customers
- Continuous monitoring of their own attack surface
“The Security Passport feature allows us to quickly, consistently and securely provide our security documentation to our current or prospective customers,” said Thomas Clark, Senior Information Security Manager at Mixpanel. “We have been able to save time and free up resources by replacing an overly complex process with one that is simple not just for us, but also for our customers.”
“Panorays is the only solution that gives customers and their suppliers everything they need to collaborate, reduce risk and do business together,” said Matan Or-El, Co-Founder and CEO of Panorays. “With these new capabilities for vendors, we continue to transform third-party security risk management to build trust and accelerate business between companies all over the world.”
Panorays is a rapidly growing provider of third-party security risk management software, offered as a SaaS-based platform. The company serves enterprise and mid-market customers primarily in North America, the UK and the EU, and has been adopted by leading banking, insurance, financial services and healthcare organizations, among others. Headquartered in New York and Israel, with offices around the world, Panorays is funded by numerous international investors, including Aleph VC, Oak HC/FT, Imperva Co-Founder Amichai Shulman and former CEO of Palo Alto Networks Lane Bess. Visit us at panorays.com.