A security questionnaire is designed to help you identify potential weaknesses among your third-party and fourth-party vendors, business partners, and service providers that could result in a data breach, data leak, and other types of cyber attacks.

Alongside a pre-built questionnaire library, the UpGuard Vendor Risk platform uses security ratings to determine the external security posture of any organization in the world, instantly.
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Security ratings can complement and provide assurance of the results reported in security questionnaires because they are externally verifiable, always up-to-date, and provided by an independent organization. 

According to Gartner, cybersecurity ratings will become as important as credit ratings when assessing the risk of existing and new business relationships…these services will become a precondition for business relationships and part of the standard of due care for providers and procurers of services.