In today's business landscape, efficiency is crucial. Vendor security reviews can delay sales processes, but Conveyor offers a solution.
The Problem of Vendor Security Reviews
Before purchasing new software, companies require assurance of its security, leading to detailed vendor security reviews.
Software vendors face lengthy questionnaires covering everything from data encryption to compliance certifications. Answering these questions demands deep knowledge and significant time investment from security and sales teams.
Chas Ballew, co-founder of Aptible, noted that customers often had to repeatedly explain their security practices. “What we saw was that every time one of our customers was trying to close a deal, they would have to explain all of their security and compliance practices over and over again to their customer,” Ballew said. This manual process caused delays in sales and contract renewals.
Conveyor's AI Automation Solution
Founded in 2021, Conveyor integrated AI capabilities to address the challenges associated with security reviews. Their AI agent is trained on the company's existing documentation and past responses.
When a new questionnaire arrives, the AI can analyze the questions and pull relevant information, significantly reducing manual effort. According to Conveyor, their AI agent can accurately fill out over 90% of security questions. This dramatically saves time and resources.
The Future of RFP Automation
Conveyor is also looking to automate the Request for Proposals (RFP) process, which shares similar repetitive characteristics. This expansion allows them to appeal to a broader range of clients.
Numerous companies, including Zendesk, Atlassian, and Netflix, are already utilizing Conveyor's solutions. In a recent funding round, the startup secured 20 million dollars, reinforcing investor confidence in its technology and market potential.
Conveyor's story exemplifies how AI can effectively address real business challenges. Automating security reviews and RFPs not only accelerates processes but also frees up resources for more critical tasks. As AI adoption continues to grow, we can anticipate further innovations that simplify complex business processes.
