Bitsight Launches AI-Powered Document Analyzer "Instant Insights" to Accelerate Vendor Risk Assessments

New Feature Parses Supplier Attestations Like SOC 2 Reports in Seconds, Delivering Critical Insights for Third-Party Risk Management at the Click of a Button

BOSTON, Jan. 22, 2025 /PRNewswire/ -- Bitsight, the global leader in cyber risk management, today unveiled Instant Insights, a new offering from the Bitsight IQ suite of AI-based capabilities. The new feature leverages generative AI to analyze and summarize security questionnaires and reports, allowing security and compliance teams to make faster, more informed risk decisions.

Security and risk management teams are constantly challenged to onboard new vendors, renew existing partnerships, and address backlogs of assessments—all while dealing with limited resources. Instant Insights, part of Bitsight IQ, delivers critical information in seconds—dramatically reducing the hours or even days typically spent on manual review. This boosts productivity and delivers consistent, actionable insights at scale.

"Onboarding and assessing the cyber risk of vendors is critical, but it's often slowed down by the manual reviews of lengthy documents like SOC 2 reports," said Greg Keshian, Chief Product Officer at Bitsight. "With Instant Insights, our customers can confidently and efficiently assess hundreds of vendors. We're excited to empower GRC teams with an AI-driven solution that removes tedious work, accelerates vendor onboarding and risk assessments. This allows them to collaborate with vendors to address areas of concern and spend more time on downstream resilience."

Instant Insights' first release focuses on extracting, summarizing, and highlighting key compliance data, risks, and exceptions from lengthy SOC 2 reports. Key benefits of Instant Insights include:

• Accelerated Vendor Assessments: Reduces document review time from hours to minutes.
• Actionable Insights: Quickly surfaces critical risks, exceptions, and compliance gaps.
• Scalable Solution: Enables rapid analysis of SOC 2 reports at scale, supporting faster vendor onboarding and reassessments.
• Enhanced Productivity: Frees security and compliance teams to focus on strategic priorities.
• Secure AI Integration: Powered by industry-leading foundational LLM models with high standards in data privacy and confidentiality.

Instant Insights for SOC 2 is available now as part of Bitsight's Vendor Risk Management (VRM) platform at no additional cost for existing customers. Customers can enable or disable the feature through their account settings. Additional Instant Insights features will be available throughout 2025, along with more features from the Bitsight IQ product suite to help organizations improve their security program. These advancements build on Bitsight's proven leadership in AI/ML, exemplified by innovations like GIA, IQ Search within Cybersixgill, and Bitsight's unmatched foundational data set.

About Bitsight

Bitsight is a global cyber risk management leader transforming how organizations manage exposure, performance, and risk for themselves and their third parties. Companies rely on Bitsight to prioritize their cybersecurity investments, build greater trust within their ecosystem, and reduce their chances of financial loss. Built on over a decade of market-leading innovation, Bitsight's integrated solutions deliver value across enterprise security performance, digital supply chains, cyber insurance and data analysis. For more information, visit Bitsight.com or connect with us on LinkedIn.

SOURCE Bitsight