Vendorly has collaborated with Shared Assessments to license the standardized information gathering (SIG) questionnaire, the companies announced.
The SIG questionnaire now is available for Vendorly customers to access the industry-standard list of questions, based on the risk profile of their vendor engagement.
“Vendor management is becoming increasingly complex, covering more and more areas,” Vendorly Senior Vice President Jim Vaca said in a release. “By recognizing the pain points experienced by the customers and vendors we work with, we felt a need to bring additional efficiency to both.
“So often our clients and prospects ask for guidance on the right questions to ask, even something as simple as how long the questionnaire should be,” Vaca said.
The SIG questionnaire provides standardization and efficiency in performing third-party risk assessments.
“We commend Vendorly for joining the community of third-party risk practitioners working to create assurance in vendor relationships,” said Catherine Allen, chairman and CEO, The Santa Fe Group, Shared Assessments. “By adopting and contributing to the Shared Assessments standard, Vendorly is working to create standard assessments that are reliable, relevant and efficient.”