What does it take to make companies’ third-party security process as efficient and effective as possible? We spoke with Panorays VP Product Noam Maman about some of the advanced features that help achieve this goal.
Can you tell us about some of the coolest features that have been added to the Panorays platform?
I’m really excited about speeding up the security vetting process for our customers and providing more visibility about any risks. Our revamped portfolio reports do this by giving security professionals even more insights about their suppliers’ cybersecurity posture.
The reports include overviews of your vendors, a summary of suggested actions to improve their ratings, and a report about the fourth parties that affect your company most, according to their connections with your suppliers. These are only a few of the many reports we offer to make the job easier for security professionals.
It’s also exciting to be able to provide an additional layer of cybersecurity protection to our customers with our new Dark Web Insights feature. We now monitor the dark web to detect mentions of third parties on hacker forums and other nefarious marketplaces. By doing this, we can keep our ears open about opportunities to target the third party, to sell databases of personal information or to take advantage of system weaknesses for financial benefit.
What kinds of features does Panorays offer to make workflow more efficient?
At Panorays, we know that it’s often tough for companies and businesses to engage with each other. That’s why one of our main goals is to help companies and suppliers easily collaborate, and we are always adding features to help achieve this.
Our new chat feature allows companies to interact with their suppliers directly from within the Panorays platform. By doing so, they can receive immediate responses about any questions or answers that may be unclear. The chat is also auditable, which helps with regulatory compliance.
Because having more data can help companies assess potential suppliers, Panorays also provides an automatic business snapshot of every supplier. This includes essential information such as number of employees, social media information, and funds raised.
Finally, the Panorays platform also allows companies to include metadata about each supplier, including point of contact, contract end date and data shared with the supplier. This can help companies determine business impact and whether to approve or decline working with that supplier.
What trends are you seeing in third-party security?
Our customers want to work with third parties, but they have concerns about cybersecurity and about complying with new data privacy regulations. We keep seeing a move towards automating the process so companies can focus more on the security and privacy aspects of suppliers and less on bureaucracy and paperwork. Our goal is to answer those needs with automation, technology and tools.
Want to see Panorays’ new features in action? Contact us for more details.
