Panorays VS Bitsight

Like many traditional TPRM platforms, Bitsight offers SRS and questionnaire capabilities that are often managed as two separate tools for security and compliance teams, respectively. Panorays takes a more comprehensive and user-friendly approach to third-party cyber risk management with an all-in-one platform that goes beyond traditional security risk ratings.

Panorays tackles the real challenges teams face in managing cyber risks by prioritizing context-based risk assessments. By integrating insights from external attack surface tests and security questionnaire responses, each vendor receives a unique risk score, offering a holistic view of their cyber posture and compliance status. This combined inside-out and outside-in perspective allows Panorays customers to manage cyber risks more effectively and stay ahead of threats.

Third-party risk management can be tedious and time-consuming if you’re relying on solutions that offer limited AI and automation capabilities. Unlike traditional TPRM platforms, Panorays has incorporated artificial intelligence through its entire platform, simplifying processes among teams, enhancing attack surface insights, and providing a more accurate view of security gaps. Since we understand the risks of AI, Panorays uses its own proprietary AI tools, ensuring that your data stays secure within our self-hosted environment, without compromising on efficiency.

Panorays takes an industry-leading approach to security questionnaires by harnessing the power of AI. Our AI-autofill and AI-validation features make the questionnaire evaluation process quicker and easier for both companies and their vendors. Panorays cross-references questionnaire responses with vendor certifications to ensure you get the most accurate picture of your vendors’ compliance and security statuses. Panorays also uniquely combines AI-driven questionnaire validation with supply chain risk intelligence, highlighting gaps between questionnaire responses and insights from attack surface assessments, so you get a complete and clear view of your vendors’ cyber posture.

Unlike Bitsight, Panorays received the highest possible score in Vendor Discovery and Mapping, in the latest Forrester New Wave: Cybersecurity Risk Rating Platforms, Q2 2024. Using our proprietary AI technology, Panorays detects thousands of Nth parties along a company’s attack surface, mapping out critical vendors and discovering Shadow IT.

Our approach to third-party risk assessments is context-based, letting CISOs filter through the noise of standard vendor ratings, and prioritize their most critical risks with clear remediation steps. Panorays risk assessments are tailored to your unique business relationships, risk appetite, and evolving threats, so you get the most accurate, true reflection of risks across your attack surface.

We’re proud to provide the fastest vendor risk assessments in the industry, often delivering results in under two hours with an impressive 99.8% accuracy. Our platform conducts extensive tests across your attack surface, gathering detailed information on thousands of exposed assets across the Human, Application, Network, and IT layers.