Compare OneTrust Third-Party Management vs. Panorays

OneTrust's Third-Party Management solution revolutionizes the management of your third-party lifecycle through data-driven automation, moving away from a questionnaire-first methodology to a risk-oriented framework by integrating data that enhances the security and efficiency of your third-party ecosystem. This innovative approach automates previously manual processes and customizes assessments to meet the specific requirements of each third-party relationship, thereby significantly boosting the efficiency of evaluations. Users typically see an impressive average reduction of over 70% in both time and costs related to conducting third-party risk assessments, which helps streamline the onboarding process. The platform utilizes top-tier data sources to perpetually monitor the risk profiles of third parties and automatically addresses emerging risks as they arise. By synchronizing workstreams and uniting teams around shared workflows, data objects, inventories, and objectives, it fosters greater consistency and efficiency. Furthermore, the solution enhances internal capabilities by automating essential processes and facilitating centralized oversight of third-party inventories, ensuring a more robust and responsive risk management framework. Ultimately, this level of integration not only strengthens risk management but also supports strategic decision-making across the organization.

Experience the quickest method to conduct secure business partnerships by automating the management of third-party security lifecycles. Achieve a comprehensive understanding of your suppliers by integrating insights from both a hacker's perspective and your internal security policies. The hacker's perspective evaluates the security posture similarly to how an attacker would assess a target organization, while the internal policy verification guarantees adherence to established security practices. This creates a streamlined and efficient third-party security workflow solution. Panorays provides swift security ratings derived from a simulated hacker's viewpoint that assesses assets externally, paired with an internal review to confirm the supplier meets your company's security standards. Additionally, Panorays offers automated, tailored security questionnaires that feature only the pertinent questions for each supplier, allowing you to monitor progress effortlessly. You have the flexibility to select from existing templates or develop your own customized set of questions to suit your specific needs. This dual approach not only enhances security but also simplifies collaboration with your suppliers.