Our compliance team is asking for help in vetting new SaaS tools for security risks, and currently, the process is a mess full of PDF questionnaires and lengthy email chains. I'm curious if others experience this as well. What tools or processes do you use to streamline the IT side of vendor risk assessments?
4 Answers
I'm also interested in this topic! Following to learn more about how others handle vendor assessments.
Are you looking at SOC 2 audits? That's often a crucial part of the checklist when vetting vendors.
We developed a small tool that organizes attachments and requires users to fill out a structured form. Based on that, we assign a risk level of Low, Medium, or High across different categories. It's not perfect, but it helps clarify our assessments!
That sounds like a solid internal setup. Might be a good interim option for us too.
Do you have any project management tools that you could adapt for this? If not, consider using a low-code/no-code tool; they're highly configurable and often much cheaper than traditional GRC tools like Power Apps or Quickbase!
We don’t have anything set up yet, but I’ll definitely check out those low-code tools. Thanks for the recommendations!
Yep, SOC 2 is definitely part of our checklist and a big one for us.