How to quickly complete security questionnaires and close deals faster
I’ve spent my entire career in technology sales. In fact, I’d estimate that I’ve received and responded to more than a hundred various security questionnaires, risk assessments, vendor assessments, security assessments and technical RFPs. No matter what you call them, if you’re in technology sales you’ve encountered them, and like me, dreaded the process.
For sales, it feels like the security questionnaire is a hurdle between you and a signed contract. In my past experiences, this roadblock can delay the sales process for days, weeks or more. Every day that the potential client waits for a response is a day that the deal isn’t done. It’s a day for your competitors to get a foot in the door. That’s a frustrating prospect when the end of quarter looms. The entire sales team is coordinating with a few subject matter experts (SMEs) to wrap up loose ends and win deals before the books close.
It’s not a fun process for the experts who must respond to the questionnaires either. These lengthy documents are complex, technical and mind-numbingly repetitive. It’s like coming back into work after the weekend and answering the same question over and over again.
Luckily, there’s a way to make security questionnaires more bearable. But first, let’s explore why they exist, who is answering them and how you can get faster answers.
What does a security questionnaire accomplish?
While I don’t relish answering security questions, I understand why they are so crucial. Costly data breaches happen daily and security should be on everyone’s mind. Businesses must protect themselves from risk and that means thoroughly vetting their vendors. Not only is the security questionnaire a part of the procurement process, but it’s also a recurring, annual exercise to ensure vendors remain compliant with the latest security updates.
Vendor relationships are increasingly crucial to success. According to a recent survey by Deloitte, 70 percent of businesses rate their dependency on outside vendors as moderate to high. As a result of these increasingly close partnerships, vendors routinely interact with their clients’ sensitive data. Consequently, the same Deloitte survey indicated that 47 percent of businesses surveyed experienced a ‘risk incident’ involving an outside vendor.
This is why businesses take their security assessments so seriously and have made them a standard part of the procurement process.
The questionnaires are designed by the organization’s IT department and included cover a range of topics. Depending on the industry, surveys can range from around 30 to more than 300 questions.
Topics typically covered by the questionnaire include:
- Security audits and penetration testing
- Internal security practices and policies
- Personnel policies, hiring practices and training programs
- Security certifications
- SLAs and uptime vs. downtime
- Web application security
- Physical and datacenter security
- Infrastructure security
- Business continuity
As you might imagine, these surveys vary from company to company. But, all seek a clear answer to one question — can they trust you, the vendor, to protect their business’ data?
The long way to assessment responses
If the core purpose of these assessments is so straightforward, why is answering them so complicated? Because accuracy is vital. If I submit an incorrect or out-of-date response, not only do I risk losing the sale, but it could also damage my company’s reputation or worse.
Even after years of answering assessments, I must admit that upon first viewing them, my eyes still glaze over. It’s just not my field of expertise, so I have to work with several departments and SMEs to get accurate and complete answers. A questionnaire may be routed through one, or all, of the product development, IT, customer support and legal departments.
Each of these experts takes time away from their primary responsibilities to do their part to answer the vendor questionnaires. After all the information has been collected, it must pass another review by a senior-level or executive approver before being submitted back to the potential client. It can be a lengthy process.
Four tips for faster security questionnaire response
A new way to look at security questionnaires
Using the knowledge base in our RFP technology has changed the way I view security questionnaires. I don’t dread them anymore but instead, think of them as a reason for optimism. Not only is the process entirely manageable, but it’s often a positive buying signal. My sales team is empowered with the intelligence and data to quickly and confidently answer questions that fall outside of their expertise using the knowledge base. So now, I don’t treat assessments as a distraction, but instead use them as a tool to differentiate.