Lengthy Vendor Auditing Process
Johnny Jonathan, Sapiens’ global director of information and cybersecurity, was tired of spreadsheets. His department managed over 200 suppliers for his company by spending countless hours modifying, sending and following up on security questionnaires using Excel.
The process was a challenge. “No matter how organized you are,” he explained, “you are going to slip, especially when you are dealing with the numbers that Sapiens does.”
Very often, it was necessary to call vendors to follow up on unclear answers, or when a question was left blank.
Because of the constant back-and-forth, Sapiens’ supplier vetting process often took months.
“With manual questionnaires, we wasted a lot of time waiting for answers,” he said. “It was like chasing my own tail.”
Intuitive Automated Security Assessments
Determined to find a solution, Jonathan evaluated numerous security ratings services. He had worked extensively with a competing conventional solution in a past role and considered doing so again. Ultimately, however, he was drawn to Panorays’ innovative approach towards third-party security management.
“The solution I worked with does the outside-facing security evaluation, but it doesn’t do automated security assessments. Panorays provides both, with a high return on investment.”
Jonathan noticed the difference in the supplier vetting process as soon as Sapiens switched to Panorays. The assessments thoroughly checked supplier cybersecurity posture, and the intuitive platform was easy to use. With an automated system, he could quickly and easily customize questionnaires and suppliers could no longer leave answers blank.“Panorays gives me better control of my suppliers. That’s what helps the most.”
A Rapid Solution That Effectively Checks Supplier Cyber Posture
Thanks to Panorays, Sapiens’ supplier auditing process—which used to take months—was shortened to days. At the same time, Jonathan feels confident knowing that the new, streamlined process accurately and thoroughly assesses Sapiens’ supplier security.
“Working with Panorays has simplified our supplier vetting process,” he said, “while boosting our cybersecurity standards.”