The world of vendor security is more complex than ever. With thousands of organizations relying on third-party providers, understanding their security controls is crucial. A staggering 82% of firms reported at least one third-party data breach since 2021. That’s why Standardized Information Gathering (SIG) is gaining traction across industries.
But here’s the twist—SIG is not just a checklist. It's a powerful framework that brings clarity and standardization to vendor assessments. And it can transform how you manage third-party risk.
Understanding SIG Basics
A SIG (Standardized Information Gathering) questionnaire is a comprehensive assessment tool designed to evaluate the security controls and risk posture of vendors and service providers. Created and maintained by Shared Assessments, a non-profit industry consortium, SIG has become the gold standard for third-party risk management (TPRM) across industries.
Core Components of SIG
The SIG framework consists of multiple components that work together to create a standardized approach to vendor assessments:
- Question Repository: SIG contains approximately 1,800 security and risk-related questions mapped to various regulatory frameworks and industry standards
- Modular Format: Questions are organized into 21 risk domains covering key control areas
- Flexible Deployment: Organizations can select questions based on their specific risk requirements
According to Panorays, SIG is used by over 15,000 professionals globally, making it one of the most widely adopted security assessment tools in the industry.
SIG Versions
SIG offers different versions to accommodate various assessment needs:
| SIG Version | Question Count | Use Case |
|---|---|---|
| SIG Lite | ~126 questions | High-level assessment |
| SIG Core | ~855 questions | Comprehensive evaluation |
| Custom SIG | Variable | Tailored to specific requirements |
Primary Function
The fundamental purpose of SIG is to standardize the vendor assessment process by:
- Eliminating duplicate assessments across organizations
- Creating a common language for security requirements
- Streamlining the evaluation of third-party risk
- Ensuring compliance with regulatory frameworks like GDPR, HIPAA, and others
SIG assessments have become particularly crucial as organizations increasingly rely on external vendors who may have access to sensitive data and systems.
Key Takeaways
| Takeaway | Explanation |
|---|---|
| Standardized Assessments | SIG provides a consistent methodology for evaluating vendor security, reducing redundancy in assessments. |
| Comprehensive Coverage | With around 1,800 questions, SIG covers key security domains, helping organizations understand various risk areas associated with vendors. |
| Versions for Varying Needs | SIG offers different versions (Lite and Core) to address the varying depths of assessment required by organizations, facilitating tailored evaluations. |
| Regulatory Compliance Facilitation | The framework aligns with numerous regulations, aiding organizations in demonstrating compliance and meeting audit requirements efficiently. |
Frequently Asked Questions
What is a SIG in vendor security?
A SIG, or Standardized Information Gathering, is a comprehensive assessment tool used to evaluate the security controls and risk posture of vendors and service providers.
How many questions are included in a SIG assessment?
SIG assessments contain approximately 1,800 security and risk-related questions that are organized into various risk domains addressing key control areas.
What are the different versions of SIG?
SIG offers several versions including SIG Lite (approximately 126 questions for high-level assessments), SIG Core (approximately 855 questions for comprehensive evaluations), and Custom SIG tailored to specific requirements.
How does SIG help with regulatory compliance?
SIG aids organizations in meeting compliance with various regulations like GDPR and HIPAA by standardizing vendor assessments and ensuring they align with necessary security and compliance frameworks.
Simplify Your Vendor Assessments with Skypher
Navigating the complexities of Standardized Information Gathering (SIG) can be overwhelming—especially when 82% of organizations have faced third-party data breaches. Are you tired of repetitive assessment processes that slow down your operations and create gaps in security? With Skypher, you can transform the way you handle security questionnaires into a streamlined, efficient process that meets regulatory standards effortlessly.
Imagine reducing the time spent on security reviews while enhancing accuracy and collaboration among your teams. Our AI Questionnaire Automation Tool takes the headache out of managing vendor assessments by integrating seamlessly with over 40 third-party risk management platforms. With features like real-time collaboration and a customizable Trust Center, you can ensure compliance with SIG standards and build stronger, trust-filled relationships with your vendors instantly.
Don’t let tedious assessments hold you back from achieving your security goals. Take the first step towards a more efficient and secure future— visit us at and empower your organization with Skypher today!