Security questionnaires represent the cornerstone of most third-party risk management (TPRM) programs. They allow organizations to responsibly appraise a vendor's security posture before they move forward with onboarding and grant the vendor access to internal systems and data.

Nevertheless, most security teams feel burdened by time-consuming and lengthy security questionnaires, especially when faced with additional resource and staffing limitations. Some security professionals have even expressed that questionnaires are a "soul-destroying practice for all parties involved."

UpGuard is committed to helping security professionals solve this problem and is excited to launch a new product: Trust Exchange. This new suite of tools helps ease the burden of security questionnaires for all teams, including security, sales, and compliance.

Exploring UpGuard Trust Exchange

If you’re not an UpGuard customer, the first thing to do is sign up for Trust Exchange – it’s free. Once you have an account, you can upload any questionnaires, compliance documentation, and other security documents in the content library. You can also invite your teammates to your organization so you can work together.

Security teams using Trust Exchange are responding to questionnaires 2.5x faster, and are drastically reducing the manual work involved.

Here’s what you get with Trust Exchange:

  • Showcasing your security information with a Shared Profile
  • Streamlining the security questionnaire process with AI-powered features
  • Collaborating with different teams in a centralized hub
  • Storing documentation in the content library
  • Helping sales teams close deals faster

Did we mention that we’re offering this product for free? Anyone can get started and begin using it today.

How Trust Exchange transforms the questionnaire process

With the growing frequency and sophistication of cyber attacks, it’s increasingly vital for companies to highlight their transparency and build trust in their security practices. Security questionnaires enable companies to affirm their commitment to strong cybersecurity. These questionnaires also frequently account for an organization’s ability to meet compliance regulations and other requirements in specific regions and industries.

To build trust between organizations and their suppliers, security questionnaires offer a shorthand for understanding security. The questionnaires bridge a communication gap between parties, generating confidence and credibility regarding security and shared data.

Yet the teams involved in procurement and trust management struggle with completing long and complex questionnaires across a wide portfolio of SaaS applications and tools. Filling out the same questionnaire for each new tool results in repetitive resourcing, inefficiencies, and potentially disgruntled employees tasked with the same activity again and again. 

UpGuard Trust Exchange uses powerful AI features to help teams complete security questionnaires in a matter of minutes. By harnessing the power of AI, Trust Exchange users can: 

  • Auto-populate answers with information from previous questionnaires
  • Answer custom questions quickly by using AI to expand bullets and phrases
  • Polish incomplete responses and provide accurate answers without manual effort
  • Drastically reduce the time it takes to complete a questionnaire 

Once you have used UpGuard’s AI-powered questionnaire process, fill your content library and populate your Shared Profile.

How Trust Exchange supports proactive security

UpGuard’s Shared Profile empowers organizations to eliminate most of the hassle surrounding the security questionnaire process.

An organization’s Shared Profile represents a comprehensive display of its security posture, including its security rating, security contact, company description, featured questionnaires, and any supporting documentation or certifications (e.g. SOC 2, ISO 27001). Users can share this page publicly or with specific customers individually. For privacy-inclined organizations, access can be limited with a non-disclosure agreement. 

By using UpGuard’s Shared Profile, users can speed up the questionnaire process and streamline internal workflows. Security professionals can add documents to their content library, sales representatives can view internal notes, and compliance managers can manage documentation related to compliance certifications. Organizations can also invite additional teams to promote internal visibility and provide context to stakeholders around the organization. Together, these abilities simplify security processes and enhance collaboration. 

The future of trust management

Trust Exchange is a game-changer for security and sales teams. Security teams save time completing questionnaires and can focus on mitigating risks. Sales teams can close deals faster and won’t have to annoy security teams (as much). Everyone involved in the trust management process can collaborate with a centralized hub of information and content library.

At the end of the day, it’s all about trust. Ready to save time and streamline your trust management process?

Try Trust Exchange for free today.

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