Legal Vendor Network
The Legal Industry’s Preferred Third-Party Risk Management Platform
As a law firm, your clients are under regulatory pressure to ensure that you follow effective IT security and data privacy policies, which include operating an effective third-party risk management (TPRM) program. TPRM is critical to not only protecting private client data, but also ensuring the security of your firm’s intellectual property and employee data.
The Prevalent Legal Vendor Network quickly and cost-effectively delivers the third-party risk data you need, while enabling you to keep pace with regulatory change.
Prevalent’s Legal Vendor Network delivers an efficient, scalable third-party risk management platform to satisfy client compliance requirements and reduce risk. Our automated approach leverages standardized content to provide immediate access to vendor survey data and monitoring intelligence, saving you time and ensuring a fast return on investment. With nearly 50% of the top 100 US law firms as members, the Network promotes enhanced vendor security across the legal industry.
Leverage a library of pre-submitted assessments to quickly check vendor risk status or augment your own assessments. Typically, more than 40% of a law firm’s vendors are already in the network.
Automate vendor survey collection and analysis, and reduce assessment time and costs, while ensuring an appropriate level of risk scrutiny and due diligence.
Conduct standardized assessments that map cybersecurity, IT, privacy, data security and business risks to industry standards and regulations.
Dynamically categorize vendors based on risk levels and business criticality, and customize security assessments for each category to tailor risk reporting and analysis to your firm’s unique needs.
Gain a holistic view of vendor risk by combining cyber risk snapshots with continuous business monitoring for operational, financial, legal and brand risk events.
Collaborate on risk registers, dates, tasks, acceptance and more with remediation workflow and document management capabilities.
Understand compliance and risk status across the vendor risk landscape through a central reporting console. Assessors, risk managers and executives can each see the relevant information they need to better understand and act on risk.
Flexible licensing enables you to focus on the risks that matter most to your firm. Preview vendor risk scores; dig deeper with pre-configured risk summary reports on a subset of vendors; or perform deep, controls-based risk assessments.
The Legal Vendor Network is part of Prevalent’s integrated third party risk management platform, a unified solution that provides a 360-degree view of vendor risks. With the Prevalent TPRM platform, you simplify compliance, reduce risk, and improve efficiency to scale your third-party risk management program.
“This network is a great way for law firms to help build better security maturity and visibility across our industry with the goal to reduce risk, reduce cost, and improve our ability to support our clients.” Director of Global Technology at Skadden Arps
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