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Vulnerability Assessments serve as a diagnostic into your tech stack, revealing all the potential misconfigurations, unpatched services, and insecure services that you may have.
A thorough vulnerability assessment also yields insights about internet facing assets of your organisation, and information about your organisation that may have been accidentally
indexed on the public internet.
Although often used in the same sentence, these two activities are different. A Penetration test identifies the potential impact to your organisation from a breach caused by a real world adversary. A vulnerability assessment, on the other hand will identify all the internal vulnerabilities within an organisation/application/infrastructure. Organisations with a low level of IT maturity are advised to go with a Vulnerability Assessment first.