TestFairy Shortens Sales Cycle from Two Months to Two Weeks Using Panorays’ Security Assessment
Case Study

TestFairy Shortens Sales Cycle from Two Months to Two Weeks Using Panorays’ Security Assessment

Challenge

Responding to lengthy

and time-consuming

security questionnaires

Solution

A security self-assessment

that preempts questionnaires

Added Value
  • Effective sales enabler
  • Dramatically shortened sales cycle
  • Continuous monitoring with live alerts

The Challenge: Responding to Lengthy and Time-Consuming Security Questionnaires

Enterprise companies demand that vendors satisfy strict security requirements, and Yair Bar-On, CEO and co-founder of TestFairy, was doing his best to comply. His goal was to build his company’s customer base, but the sales process always stalled when attempting to receive security approval. Often, the TestFairy team would receive an Excel spreadsheet from a prospective customer that contained hundreds of security questions.

“In most cases, the security audits were very inefficient, and approval took a very long time,” he said.

“There were times when it took three to four months just to get our security approval.”

Bar-On knew that having a prolonged sales cycle was risky. More than once, he lost opportunities when the person who was negotiating the deal left the customer’s company during the lengthy approval process.

“There was always a risk that we could lose a deal because of changes in the market, changes in the company, or because the buyer could leave,” Bar-On explained. “For us, shortening the sales cycle was not just about saving costs and making money faster. It was about making the deal happen. That’s why it was very important for us to get the deal done as quickly as possible.”

The Solution: A Security Self-Assessment That Preempts Questionnaires

Bar-On decided to try Panorays’ self-assessment. His team completed Panorays’ automated security questionnaire while the platform evaluated TestFairy’s digital footprint. Within a short time, he received a cyber posture rating reflecting the questionnaire responses and the evaluation, along with a list of actionable insights to improve it. Working together with Panorays, the TestFairy team took the necessary steps to strengthen its cyber posture.

Then, instead of completing endless security questionnaires and waiting for replies, TestFairy began inviting prospective customers to view its cyber posture report from Panorays.

“The reaction was amazing,” Bar-On said.

“Whenever we shared our Panorays self-assessment with a customer, 90% of the time we passed the security audit on the first try.”

Bar-On noticed the difference almost immediately. Before Panorays, security approval typically took about two months; after Panorays, it was shortened to an average of two weeks.

The Conclusion: An Efficient Sales Process and Improved Success Rate

By demonstrating adherence to security standards, TestFairy bypasses lengthy vetting processes and continues to build its customer base.

“Panorays has definitely made our process more efficient,” said Bar-On. “We get our deals done faster, we’ve improved our success rate, and we don’t need an expert to process documents. Everything is ready, and our sales team can handle everything with Panorays’ help.”

At the same time, Panorays continues to monitor TestFairy’s cyber posture and sends live alerts of any new issues.

“I know that things are happening in the background to make sure we are secure,” said Bar-On. “I know that if there is a problem, I am told about it. If there’s no problem, then there’s nothing I need to do.”

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