IDC MarketScape: Worldwide Third-Party Risk Management Software 2022 – Prevalent Named a Leader

IDC has released their first-ever IDC MarketScape: Worldwide Third-Party Risk Management Software (Doc #US48295522, September 2022) , and we are thrilled to have been named a Leader. We believe this leadership positioning is a testament to the investments we made to benefit customers in innovation, customer success, and managed services.

Get your complimentary copy of the IDC MarketScape excerpt, so you can apply their expertise to improve your third-party risk management program.

How to Evaluate TPRM Vendors in the Report

We believe that the most important criteria to evaluate TPRM solutions includes, a) features in the solution, and b) how the solution is delivered and supported. What does the MarketScape say?

Significantly More Comprehensive TPRM Platform

The IDC MarketScape says, “The Prevalent platform is designed to support client TPRM needs from vendor assessments and onboarding through vendor termination. With the expansion into non-IT risk domains, the Prevalent platform became significantly more comprehensive.”

Flexible TPRM Solution Delivery

The IDC MarketScape says, “Prevalent's strengths stem from thoughtful design of the solution and from their unique in-house capabilities including managed services and ratings. As discussed, by offering managed services internally, Prevalent customers are able to deftly move back and forth between a managed service offering and independently running the platform. This opens a door for clients to bring in the extra support as needed without a sense of long-term commitment. This flexibility is a key differentiator of the Prevalent offering.”

Natively Integrated Risk Ratings with Assessment Results

The IDC MarketScape says, “The managed services component is also enhanced with Prevalent's in-house rating capabilities. Prevalent differentiates by combining assessments and ratings to provide a complete vendor profile. Prevalent customers have access to 10,000+shared third-party security, privacy and business resilience risk assessments which they can leverage and customize by applying multipliers, adjust by region, and augment with specific questions. In-house intelligence is also supplemented with partner feeds including Modern Slavery statements, Corruption Perception Index (CPI) scores, Health & Safety events, and ESG scorings and EPA eco violations database.”

We believe the third-party risk management market is evolving rapidly, and vendors that deliver a strong solution are best positioned to address today’s customer challenges and tomorrow’s needs.