New Report: The 2022 Gartner® Market Guide for IT Vendor Risk Management Solutions

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

Leading industry analyst firm notes Prevalent strengths as managed services, risk rating, and tool kit.
By:
Scott Lang
,
VP, Product Marketing
September 12, 2022
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Press release idc tprm marketscape 2022 0922

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.

IDC MarketScape: Worldwide Third-Party Risk Management Software

Get essential guidance for addressing your most complex third-party risk management challenges.

Read Report Excerpt
Feature idc tprm marketscape 2022 0922

Why Prevalent for Third-Party Risk Management?

We believe we are differentiated in the TPRM market by offering:

  • Ultimate flexibility: Prevalent offers the widest choice of products, networks and managed services available to meet you wherever you are in your program maturity; and the greatest number of pre-built questionnaire template options available in a third-party risk management solution.
  • Unrivaled expertise: Prevalent’s Global Risk Operations Centers for managed services employ Certified Third-Party Risk Professionals (CTPRPs) ready to do the hard work of managing the vendor lifecycle for you.
  • Unparalleled breadth: The largest network of completed, industry-standardized vendor surveys and intelligence combined with the world’s first – and only – vendor marketplace for self-assessments accelerate the vendor risk assessment process.
  • Unified solution: Prevalent is the only third-party risk management solution to natively integrate continuous cyber and business monitoring with assessments to provide a complete view of vendor risks.
  • Unmatched ROI: Prevalent customers identify risks 44% faster, reduce manual work by 50%, and increase productivity by a factor of 3.

Request a personalized demo, and we’ll prove it to you!

Read the IDC MarketScape excerpt now to compare TPRM providers based on your needs.

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IDC MarketScape: Worldwide Third-Party Risk Management 2022 Vendor Assessment, doc# US48295522, September 2022)

About IDC MarketScape: IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the icons.

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Scott Lang
VP, Product Marketing
Scott Lang has 25 years of experience in security, currently guiding the product marketing strategy for Prevalent’s third-party risk management solutions where he is responsible for product content, launches, messaging and enablement. Prior to joining Prevalent, Scott was senior director of product marketing at privileged access management leader BeyondTrust, and before that director of security solution marketing at Dell, formerly Quest Software. He can be reached on Twitter @scottinohio, LinkedIn and Facebook.
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