TruSight, a leading provider of comprehensive, fully validated third-party risk data, recently collaborated with Whistic, a leader in proactive vendor security. Following this partnership, third parties will be able to notify customers and prospects that they have been TruSight validated. It will also allow them to simplify customer requests to access their TruSight assessments and other audit results.
Luke Nordlie, Chief Revenue Officer of TruSight, said, “Whistic shares our belief in the importance of a trusted supply chain, particularly in today’s volatile risk environment. Our partnership allows us to further streamline the assessment process by centralizing the distribution of due diligence information. We are excited by the opportunities this partnership brings and look forward to working with Whistic to provide even more advantages to third parties and customers in the future.”
TruSight streamlines the transmission of validated, standardized risk data between service providers and clients. The TruSight utility model, in which assessments are completed once and shared by many, minimizes the time and effort spent by financial services organizations and third parties by doing away with the need for repetitive and duplicative questionnaires and assessment queries.
By minimizing the redundant effort connected with requests for third-party risk assessments, TruSight and Whistic intend to improve the third-party experience. Whistic assists businesses with streamlining and automating their third-party risk management (TPRM) programs through the Whistic Vendor Security Network, which speeds up the vendor assessment process by allowing companies to access and assess a vendor’s Whistic Profile. The Whistic Profile compiles all of a vendor’s security documentation, such as questionnaires, certifications, and audits, into one location.
Furthermore, through this collaboration, TruSight and Whistic will be able to enable suppliers to use their evaluation reports as a tool for sales acceleration. As a TruSight partner, Whistic is providing TruSight Third Party Suppliers with a free Profile. In order to speed up the security review procedure, TruSight third-party suppliers can share their due diligence efforts with clients and prospects by uploading their TruSight Validated Badge, audit reports, security certifications, security questionnaires, and other documentation to their Whistic Profile.
The TruSight Validated Badge will provide a link to a third-party assessment inquiry form that customers and prospects can use to seek access to the third-party’s assessment. This will shorten the sales cycle, support third-party’s diligence activities, and ensure that third parties maintain ownership of their security data.
Sunil Dsouza, Vice President of Partnerships and Business Development at Whistic, said, “TruSight has played a key role in driving industry change around third-party risk assessments, and this partnership is another step in that direction. By giving vendors the ability to quickly respond to common risk assessment and review process challenges, our partnership will give them improved support to build trust with customers. Through the Whistic Profile, third parties will be able to proactively share a snapshot of their security efforts with prospects and customers, giving businesses greater visibility into supply chain risk and make more informed risk decisions.”