Shared Assessments is very pleased to launch our first-ever “Trust Network” pilot project this week with our partner Whistic. This project is intended to connect the efficiencies of Whistic’s Trust Center with the diversity of Shared Assessments’ third-party risk management member and subscriber community. As requested by many Shared Assessments’ members, we are working to create greater transparency around the thousands of companies that actually accept and use our Standardized Information Gathering (SIG) questionnaire.
Whistic’s platform makes it fast, secure, and easy for buyers and sellers to connect and automate risk assessments. Shared Assessments has built a membership ecosystem of cross-industry buyers (outsourcers) and sellers (vendors) who collaborate to develop and drive standards in risk management and the vendor assessment process.
By partnering on this project, our organizations are striving to combine two networks to strengthen trust in the industry.
The Trust Pilot Project
In the first phase of launching the “Trust Network” pilot project in 2023, the Shared Assessments member and subscriber community will have immediate access to thousands of organizational profiles featuring relevant Standardized Information Gathering Questionnaire (SIG) information within the Whistic Network to jumpstart the risk review process. (Members and subscribers: access the offer via the Shared Assessments Portal. Not a member or subscriber, but interested in this offer? Reach out to us here.)
Shared Assessments members and subscribers will be able to access the “Assess” (simplify and streamline the process for assessing vendors) and the “Trust Catalog” (enables vendors to connect customers with all relevant security documentation) features of the Whistic platform.
In 2024, the Shared Assessments member and subscriber community are intended to have access to the “Profile” (eliminate the burden of responding to security questionnaire) feature of the Whistic platform.
In turn, the Whistic Trust Catalog will be enhanced with quality SIG Assessments from the Shared Assessments community.
On Partnering With Shared Assessments
By enabling the secure exchange of SIG information together, Whistic and Shared Assessments are taking another step toward streamlining the third-party risk assessment process.
“This partnership aligns perfectly with our strategic vision — to bring buyers and sellers together to enable the secure exchange of on-demand security and compliance information, while streamlining both sides of the third-party risk assessment process. The SIG is integral to that vision. We’re excited to give TPRM teams the tools, automation, and data to achieve their program objectives more effectively,” shares Whistic’s CEO Nick Sorensen.
Shared Assessments is proud to partner with Whistic for the benefit of TPRM practitioners and programs in our community. “This pilot project connects the expansive and growing networks of SIG users and strengthens relationships between service providers and their customers. This new partnership advances the longstanding Shared Assessments’ vision of creating a more secure and resilient world through collaboration and information sharing across the industry,” says Shared Assessments’ CEO Andrew Moyad.
Founded in 2015 and located in the heart of Utah’s Silicon Slopes, Whistic is passionate about transforming third-party risk management and customer trust programs to empower the world to put security first. Whistic’s Third-Party Risk Management platform saves time, drives efficiency, and shortens the procurement process and sales cycles.
Whistic has been a content licensee partner with Shared Assessments since 2017, integrating the Standardized Information Gathering Questionnaire (SIG) within their platform. Many companies within the Whistic network accelerate the vendor assessment process by storing and accessing SIG Questionnaire responses in the Whistic Trust Catalog.
About Shared Assessments
Shared Assessments was founded by large banks, service providers, and major accounting firms in 2005 to create standards and efficiencies in third-party risk assessments. Today, our members and risk professionals span all major industry verticals, including energy, financial services, government, healthcare, information technology, manufacturing, and retail.
In a rapidly evolving regulatory and risk environment, Shared Assessments’ products (including the SIG) incorporate industry standards and the collective intelligence of our diverse member base to keep third-party risk management programs current.
Interested in partnering with Shared Assessments? You can keep your ERM/GRC platform’s third-party risk assessment content current with industry best practices by licensing Shared Assessments’ products. Licensing Shared Assessments’ Product Suite will bring third-party risk credibility to your solution, save your organization’s resources, and connect you with the heart of the third-party risk management industry.