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One of the most common pains of tech vendors is manually answering security questionnaires – a process that’s long, tedious, and counterproductive. From the immense volume to the complexity of its content, vendors often find themselves wading through a waist-high sand just to check all the security boxes required by the buyer,
Moreover, vendors often struggle to provide satisfactory answers because they lack clarity on which responses are considered acceptable, how to propose viable alternatives, and how to appropriately provide relevant supporting evidence.
In light of these difficulties, Israel-based tech startup Vendict leverages the latest advancements in linguistic generative AI technology to revolutionize the process by automating the response generation for security questionnaires, Vendict significantly alleviates the time-consuming manual effort required. This leads to the saving of countless working hours each month, enabling vendors to focus on other essential tasks and objectives. Additionally, the streamlined process helps shorten the sales cycle, allowing vendors to close deals more efficiently and effectively.
Today, the company announces its stealth exit with $9.5 million in funding led by NFX, Disruptive AI, and Cardumen Capital, aiming to be a business driver in the Governance, Risk, and Compliance (GRC) landscape by helping technology vendors fulfill their security requirements, and simplify the adoption of new technology.
“Filling out a security questionnaire is one of the least preferred activities of any CISO, GRC specialist, or sales engineer I’ve ever spoken with. By using the GRC-specific generative language model, this is the first time that this pain is truly solved. As the CEO, I’m getting to see the astonished faces of our customers when they realize that they will not need to manually respond to questionnaires anymore. This is satisfying in a way that I can’t explain. But still, this is just an intermediate step. The technology we are now developing will eliminate the need to send questionnaires altogether. Vendict will generate security assessment reports to the buyers, based on the sellers’ documents, and the criticality of the vendor,” said Udi Cohen, Co-Founder and CEO of Vendict.
Boosting Productivity and Efficiency with AI Security Expert
The ability to swiftly and accurately respond to security questionnaires gives Vendict an edge over competitors who rely on manual methods. This technology-driven approach not only boosts productivity and efficiency but also improves the overall customer experience. Prospects are more likely to be impressed by the promptness and accuracy of Vendict’s responses, increasing the likelihood of successful business partnerships.
“We recognized that Vendict effectively addresses a genuine issue related to establishing trust among buyers, sellers, and regulators. Their solution innovatively combines their unique AI technology with precise utilization of generative AI techniques,” said Gadi Tirosh, Venture Partner at DisruptiveAI.
“By building the world’s first security language AI model, Verdict helps their customers reduce risks, save time, and accelerate sales cycles,” explained Gigi Levy Weiss, General Partner at NFX. “Udi and Michael have the perfect experience to deliver on this vision and streamline how security compliance is done.”
Raul Zayat Galante, the Head of Security at Orca Security, expressed that using Vendict has greatly transformed their process of compiling and updating responses to RFIs and security questionnaires. Previously, it was a tedious and error-prone task, but Vendict has revolutionized their approach. “Vendict has a centralized knowledge base for all of our compliance documentation. This makes it easy to find and update the information we need. In addition, Vendict has a plugin for questionnaire filling that helps us automate answers to online RFIs. As a result, we’ve been able to significantly reduce the time we spend on RFIs and security questionnaire responses. We’re also more confident that our responses are accurate and complete. We highly recommend Vendicts to any organization that wants to improve its RFI and security questionnaire response process.”
