Whitepaper: Ultimate Guide to Security Questionnaires

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A security questionnaire is a set of questions designed to help an organization identify potential cybersecurity weaknesses among its third-party and fourth-party vendors, business partners, and service providers. 

Organizations use security questionnaires to deliver informed vendor risk assessments. They allow organizations to vet potential vendors and other third parties by ensuring their information security practices and security policies meet both internal and external requirements. 

Security questionnaires provide clear, comprehensive insight into the security posture of third-party vendors. Organizations can use them quickly to identify any security gaps present in their vendor ecosystem and request immediate remediation to both begin and continue business relationships. 

Why are security questionnaires important?

Security questionnaires are important because they allow your organization to responsibly vet vendors before going forward with the onboarding process and enabling third-party data handling. 

When an organization gives a third-party vendor access to its sensitive data, it takes on the risks of that vendor. As such, an organization’s private data will likely become compromised if its third-party vendor suffers a data breach or other security incident. 

Failure to manage these risks by performing due diligence and having an effective third-party risk management (TPRM) program in place can leave your organization exposed to regulatory action, financial action, litigation, reputational damage, and can impair your organization's ability to gain new customers or retain existing ones.

Security questionnaires are a crucial element of a robust TPRM program. They ensure your service providers are following appropriate information security practices and can help with incident response planning.

Learn if security questionnaires are accurate >

What topics does a security questionnaire cover?

Security questionnaires may cover any of the numerous topics which contribute to a third party’s security posture, such as:

Are security questionnaires accurate? Find out >

Creating an effective security questionnaire

Below are some best practices for how to create an effective security questionnaire. For vendors who want to learn how to respond to a security questionnaire efficiently, click here to skip ahead.

Your organization must create and send security questionnaires to perform effective vendor due diligence when entering new third-party partnerships. Security questionnaires can often be lengthy and tedious and vendors often deprioritize their completion, even when provided with deadlines. 

Crucial information like network security and data security practices are only accessible by asking the vendor directly. This knowledge gap means it is even more important that your questionnaires address the right areas. 

Learn how to choose security questionnaire automation software >

For vendors, you must ensure your security team can respond to security questionnaires quickly and comprehensively. 

The following best practices can help your organization create and send effective vendor security questionnaires.

1. Use an industry-standard questionnaire

It’s common practice to use an industry-standard questionnaire as a template and build upon it as necessary, depending on your organization’s requirements. 

Some widely-used industry-standard methodologies include:

CIS Critical Security Controls (CIS First 5 / CIS Top 20) 

The CIS Critical Security Controls were developed by the Center for Internet Security (CIS), a nonprofit organization that aims to safeguard private and public organizations against cyber threats.

CIS’ Top 20 outlines a set of prioritized actions that help protect an organization from cyber attacks on its critical systems and data.

The security controls map to most major security frameworks, including the NIST Cybersecurity Framework, NIST 800-53, ISO 27000 series, and regulations like PCI DSS, HIPAA, NERC CIP, and FISMA.

Consensus Assessments Initiative Questionnaire (CAIQ)

The Cloud Security Alliance (CSA) educates and promotes secure cloud computing best practices. 

The organization developed CAIQ to document security controls across IaaS, PaaS, and SaaS offerings. 

Organizations should use CAIQ when screening cloud providers. 

NIST 800-171

The National Institute of Standards and Technology (NIST) guides cybersecurity and privacy best practices and standards in the US. 

NIST 800-171 helps organizations protect controlled unclassified information (CUI) in nonfederal systems and through 14 specific security objectives with a variety of controls and maps to NIST 800-53 and ISO 27001

Any organizations that offer products, solutions, or services to the Department of Defense (DoD), General Services Administration (GSA), or National Aeronautics and Space Administration (NASA) must comply with NIST 800-171

Ensure your vendors align with NIST 800-171 with this free NIST 800-171 questionnaire template.

Standardized Information Gathering Questionnaire (SIG / SIG-Lite)

SIG and SIG-Lite were published by the Shared Assessments Program, a global source of third-party risk management resources, including tools and best practices to manage vendor risk

The SIG questionnaire assesses cybersecurity, IT, privacy, data security, and business resiliency. SIG-Lite is suitable for low-risk vendors, consisting of higher-level questions adopted from SIG.

VSA Questionnaire (VSAQ)

The Vendor Security Alliance (VSA) published VSAQ to further their aim of enhancing Internet security.

VSAQ allows organizations to monitor their supplier’s security practices across six different areas – data protection, security policy, preventative and reactive security measures, supply chain management, and compliance. 

ISO/IEC 27001 (ISO 27001)

ISO 27001 was developed by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). 

Organizations across the globe implement ISO27001 to effectively manage data security and information security within their information security management system (ISMS).

Download this free ISO 27001 risk assessment template to confirm your vendors’ alignment with ISO 27001.

2. Cover industry-specific compliance requirements

Many regulations are applicable across all industries, such as GDPR, CCPA, and LGPD. Sectors like healthcare and financial services are more heavily regulated and have additional compliance requirements, such as HIPAA and PCI DSS, respectively.

It’s important to make sure your team is aware of the unique compliance requirements of each potential vendor to ensure you send all necessary security assessment questionnaires.

3. Create a custom questionnaire

While industry-standard questionnaires cover much of the fundamental information you need to gauge your vendors’ security programs, new security risks outside of these standards are emerging daily across your third-party attack surface. 

For example, the 2020 SolarWinds breach saw an unprecedented number of organizations affected. Organizations needed to ask vendors specific questions about their relationship with SolarWinds which were not addressable through industry-standard frameworks. 

Custom questionnaires allow you to combine questions from existing questionnaires with questions about new threats, specific to the vendor you are asking.  

Tips for Creating a Security Questionnaire

How to answer a security questionnaire efficiently

As a service provider, you will undoubtedly receive many security questionnaires when engaging with potential new clients. 

Your infosec team must be prepared to complete any security questionnaires from the moment your sales team responds to a potential client’s request-for-proposal (RFP).

Below are some best practices on how to answer a questionnaire efficiently to build trusting third-party relationships. 

1. Be clear, concise, and accurate. 

Answer the exact question asked, only including relevant explanation and evidence to help support your answer. 

If you are unclear on any questions or need further information about the questionnaire, reach out directly to the client organization for further clarification to avoid unnecessary back and forth due to incorrect or invalid responses.

Providing accurate information helps establish trust with your client. It also gives you a clear indication of the cybersecurity measures you have in place to protect customer data, and highlights any gaps you need to address. 

For example, a subject matter expert could discover that not all customer data is encrypted upon filling out a questionnaire and take immediate action to remediate the data leak before a security incident occurs. 

2. Keep a record of completed questionnaire responses.

Building a single source of truth for your questionnaire responses will dramatically reduce the amount of time spent answering future questionnaires and ensure consistency across responses.

Update the repository each time you answer a new questionnaire to keep it as accurate as possible. If possible, enable sorting by key information like questionnaire type, date, client organization, etc. for easier and faster reference.

3. Get certified. 

Gaining certifications for recognized frameworks, such as SOC2, NIST, HIPAA, GDPR, ISO 27001, and FISMA builds credibility for your organization by demonstrating your security program is up to international standards. 

Certifications like SOC2 require significant time and resources to obtain, but once achieved, can often satisfy most client intake needs in place of multiple questionnaires.

4. Create a remediation plan.

Once you have an established repository of security questionnaire responses, you’ll gain a much clearer view of your security gaps. From here, you can not only address these weaknesses but also form a concrete remediation plan. 

Client organizations view remediation plans very favorably as they provide assurance that your organization can respond promptly and effectively to a security incident and avoid any major damage if one occurs. 

Tips for Answering a Security Questionnaire

Harnessing AI to solve questionnaire problems

Artificial intelligence has emerged as the leading solution for helping security teams manage the burden of security questionnaires. By automating repetitive and time-consuming tasks, AI enables teams to focus on high-level strategic activities without sacrificing accuracy or compliance.

AI can streamline the questionnaire process by recognizing frequently asked questions, learning from past responses, and leveraging security documentation to complete repetitive sections instantly. This technology drastically reduces the time and effort spent on questionnaires while delivering key benefits:

  • Speed: AI questionnaire tools can complete tasks in a fraction of the time it would take a team manually. What used to take weeks or months can now be done in hours, easing the workload, speeding up deal cycles, and accelerating vendor onboarding.
  • Precision: AI tools can pull from a repository of pre-approved answers, ensuring fields are auto-filled with the correct information every time.
  • Accuracy: AI ensures greater response consistency by reducing the risk of human error. Many AI tools cross-reference previously completed questionnaires to ensure alignment with an organization’s security policies, preventing mistakes like misinterpretation or inconsistent answers.

Despite these advancements, not all AI tools are created equal. The following sections explore three levels of AI assistance—from more basic DIY solutions to fully integrated, AI-powered platforms like UpGuard’s Trust Exchange, which represents the gold standard in automating security questionnaires.

Acceptable solution: DIY AI

Custom AI solutions are becoming a growing trend in the cybersecurity industry as security teams search for ways to reduce the burden of security questionnaires. These custom solutions typically involve training large language models (LLMs) on all the documentation an organization shares with a third party, such as previous security questionnaires or compliance certificates. While this may seem innovative, DIY AI models also present considerable risks.

Exposing AI to sensitive information and protected data during training can pose significant privacy and security concerns. There’s also the risk of incorrect or inconsistent answers if security teams don’t thoroughly or adequately train the AI system to understand all contextual data in every situation. Even the most well-trained models can fall prey to AI hallucinations, where the model generates a response that seems plausible but is, in fact, factually inaccurate.

Maintaining an in-house AI solution also requires tremendous ongoing effort. Organizations that create their own AI must continue training, retraining, and testing their model to ensure answers stay accurate as regulations and security standards evolve. For many security teams, this approach is too resource-intensive to manage effectively, and DIY AI can introduce unnecessary complexity into an already cumbersome and complicated process.

Good solution: AI tools

Over the last few years, various AI tools have entered the market, promising to make security questionnaires easier to complete. Companies like Vanta, SafeBase, and Responsive all offer tools and add-ons to automate the security questionnaire process. These solutions can be highly effective for large organizations with a substantial IT and security budget.

However, these tools are often too expensive for smaller security teams. Budget-constrained teams are often left without a viable solution, forcing them to rely again on manual processes simply because they can’t afford the tools designed to help with this problem.

This predicament can leave security questionnaires frustrated and disillusioned at the prospect of ever improving their security questionnaire process. After all, if the price of these solutions is significantly out of budget and this budget isn’t going to change anytime soon, they will likely feel stuck in a cycle of inefficiency with no realistic path forward to streamline their workflow. But this doesn’t have to be the case.

Better solution: UpGuard Trust Exchange

Sign up to Trust Exchange for free >

For organizations seeking a comprehensive, cost-effective solution to overcome the burden of security questionnaires, UpGuard Trust Exchange is the best choice. Simple and efficient, the platform combines powerful AI, automation, and intuitive workflows to eliminate the tedious, manual tasks that drain a security team’s resources.

Unlike other AI tools with steep price tags, UpGuard Trust Exchange is available for free. This accessibility enables security teams of all sizes to overcome the security questionnaire burden, even those operating on a limited budget. Trust Exchange provides everything security teams need to streamline their questionnaire process without breaking the bank.

Trust Exchange’s powerful Questionnaire AI can automate repetitive questions, pull from pre-approved responses, and allow teams to store, share, and manage security documentation in one centralized hub. By using Trust Exchange, security teams will reduce the time they spend completing questionnaires, minimize the potential for human error, and ensure greater accuracy and consistency across requests.

“Trust Exchange’s Questionnaire AI is a game-changer for our team. It automatically and accurately fills 75% of any security questionnaire we receive. This saves us several hours every week.”

- Chris O’Brien, UpGuard

How UpGuard Trust Exchange stands out

Tens of thousands of companies worldwide have already adopted UpGuard Trust Exchange to streamline security questionnaires, reduce response times, and improve customer relationships. Trust Exchange includes the following powerful features:

  • Questionnaire AI: Answer security questionnaires in minutes, not weeks. Trust Exchanges’s Questionnaire AI uses artificial intelligence to power features like Autofill and Enhance, easing the burden of security questionnaires for all teams involved, from Security and Sales to Procurement and Compliance.
  • Autofill: Reduce your workload. Autofill enables users to auto-populate security questionnaires from a repository of their past answers and stored documents and certifications.
  • Enhance: Eliminate typos and improve response quality. Enhance helps users edit and refine their answers, minimizing human error and making responses more consistent and faster to assess.
  • Trust Page: Showcase your security documentation and share it with other organizations. An organization’s Trust Page represents a comprehensive display of its security posture, including its security rating, security contact, company description, featured questionnaires, and any supporting documentation or certifications (SOC 2, ISO 27001, etc.).
  • Content Library: Manage your security documents in one place and control which documents should be shared externally with your customers and prospective customers.
“Instead of having to email back and forth with a prospect, you send a link with your Trust Page, and in 30 seconds, the customer has most of their security questions answered. Multiply that with 150 sales reps, and you save dozens of hours of valuable time from the sales reps, and then those reps can reach out to more customers.” - Julien Penalba, Director of Information Security at iDeals

Sign up to Trust Exchange for free >

Are security questionnaires enough on their own?

Security questionnaires are only one element of the vendor risk assessment process. A comprehensive vendor risk management program consists of a combination of other verification methods, to provide a complete picture of the security posture of each third-party vendor, a critical additon to every cybersecurity program.

A major challenge with security questionnaires is that your organization cannot verify all of the information your vendors provide. Much of the exchange relies on trust and any discrepancies will likely go unnoticed until a data breach or other major security incident occurs. 

You should use additional assessment methods to prevent data breaches and gain a better insight into your vendors’ security programs.

Other vendor risk assessment methods that complement security questionnaires are listed below.

Security ratings

Security ratings measure an organizations’ security posture by providing an objective, quantitative score of cybersecurity risk. 

Security teams can continuously monitor their vendors’ security postures through security ratings, which use non-intrusive measures to analyze open-source datasets. 

Security ratings work well alongside security questionnaires as they are updated frequently, generated automatically. Unlike security questionnaires, security ratings can be verified externally.

They are also easy to understand – not just by CISOs, but also by non-technical stakeholders.

Learn more about why security ratings are important here.

SOC 2 compliance

SOC 2 is an auditing standard that ensures service providers and third-party vendors are protecting sensitive data and personal information from unauthorized access.

Compliance with SOC 2 assures that a vendor’s ​​system and organization controls and whether are suitable and have met the relevant criteria - security, availability, processing integrity, confidentiality, and privacy. 

SOC 2 reports cover many of the typical questions asked in security questionnaires and can also verify questionnaire responses. 

As vendors can often send their reports instead of responding to a questionnaire, SOC 2 compliance also speeds up the risk assessment process.

Learn more about SOC 2 here.

Continuous attack surface monitoring 

Despite their broad coverage, security questionnaires don’t identify all the potential third-party (and even fourth-party) risks brought on by your vendors. 

As self-assessments, you also can’t afford to rely on your vendors’ claims alone. 

Investing in an attack surface monitoring tool, like UpGuard Vendor Risk, allows you to monitor your vendors’ security posture accurately by detecting cyber threats in real time. 

This visibility enables your security team to quickly request remediation of emerging cybersecurity threats – such as CVE-listed vulnerabilities and exploits, social engineering attempts like phishing and spear phishing, malware, ransomware, email spoofing, typosquatting, domain hijacking, man-in-the-middle attacks, and other cyber threats before they become disastrous. 

You can also easily categorize vendors by their risk criticality to prioritize your remediation efforts.

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