Improve Manual Supplier Vetting
Eyal Sasson, CISO at Gett, was looking for a better way to manage his company’s third-party security. Gett’s many vendors underwent a lengthy vetting process to check that their security posture was strong.
“There was a lot of back-and-forth between us and the vendors,” Sasson explained. “It could take a while to hear back, then usually there was at least one follow-up.”
Sasson knew that to remain competitive, the company needed to streamline the process. His goal was to ensure security without slowing business processes. For this reason, he started searching for a comprehensive solution with a simple user interface that could serve as a centralized repository for all vendor interaction and assessments.
“We wanted something that really focused on managing third-party security evaluations.”
Centralized and User-Friendly Vendor Assessments
After starting to work with Panorays, Sasson immediately noticed a reduction in the time and effort that was spent on vendor security evaluations. He and his team found the platform to be extremely user-friendly, and they were able to easily and rapidly add their suppliers to the system.
“I want to invest the least amount of time and effort as possible on evaluating vendors,” he noted. “Panorays helps me do that.”
Sasson particularly liked receiving a quick general security rating of vendors within 72 hours, which provided him with an overview before receiving the results of the security assessments. He also appreciated having a centralized platform where he could file all his vendor-related material and ratings.
“I really like the feature of being able to upload files, so that I can add additional communication with suppliers,” he said. “If we have an old questionnaire on an Excel sheet, I can easily upload that to the system. This is my favorite feature.”
A Business Enabler That Accurately Identifies Risk
Now that he has a shorter vetting and onboarding process in place, Sasson is convinced that the Panorays solution acts as a business enabler for Gett.
“With Panorays, we can quickly start doing business with new partners without compromising on security,” he said.
“Having such a rapid process in place keeps us on top of our competition.”
But ultimately, Panorays gives Sasson peace of mind as a CISO.
“Panorays gives me reliable information to distinguish between the vendors that are high-risk and those that are not,” he said. “That’s the best part of all.”