Overall, both Vanta and UpGuard provide similar products relating to security compliance and vendor risk management. The main difference is that UpGuard is structured to provide organizations with deeper visibility into external, third-party security postures that are necessary for executive decision-making. UpGuard achieves this by using a combination of instant security ratings, automated security questionnaires (with framework and compliance standards), continuous monitoring and scanning, data leak detection, and even a full managed service for risk assessments.
Although Vanta is branching out into third-party and vendor risk management, their processes are still heavily skewed towards achieving 1st & 3rd-party compliance to various security frameworks and audit standards rather than provide full visibility into an organization's end-to-end risk postures. However, as a leader in security compliance, they have a well-defined, automated process for attaining security certifications and can help organizations save time on this front.
The best way to decide which solution works best for your organization’s specific requirements is to trial each tool first. You can try UpGuard for free for 7 days here!