Introducing TPRM Jump Start: The Fastest Path to Assessing Vendor Resilience

Supply chain security and business resilience have never been more important than now. In these unprecedented economic times, organizations must ensure that the vendors they do business with are resilient enough to weather the storm. However, an alarming number of companies aren’t even able to centrally manage their vendors; know the risks they inherently bring to the business; or assess them without resorting to archaic and time-consuming methods like spreadsheets.

With budgets shrinking and projects being re-prioritized right and left, now is the time to ditch those spreadsheets and invest in an automated third-party risk management program to ensure your vendors are secure, resilient and ready for what’s next.

Build a Third-Party Risk Management Program in 30 Days or Less

Prevalent is excited to announce two new solutions intended to help companies get their TPRM programs off the ground in less than 30 days. Prevalent TPRM Jump Start offers affordable packages of capabilities designed to help your TPRM program get up and running quickly, so you can automate assessments of supply chain resilience. Since Jump Start is based on the Prevalent TPRM platform, you have a scalable solution for ongoing TPRM as your needs evolve.

Prevalent TPRM Jump Start delivers:

• Onboarding and central management of an unlimited number of vendors
• Inherent risk scoring for an unlimited number of vendors
• Standardized assessments, risk scoring and remediation guidance to reduce residual risk
• Built-in reporting against common compliance and security frameworks
• Programmatic, best-practice processes to build a foundation for a more mature TPRM program

Jump Start is a low-risk, high-velocity launching point for your TPRM program that enables you to not only centrally onboard and manage your vendors, but also to quickly baseline the risk each vendor poses to your operations. With that foundation in place, you can centrally assess and score risks, remediating the ones that matter most to you.

TPRM Jump Start Discover: Know Your Vendors. Quantify the Risk.

Jump Start Discover enables you to centrally manage vendors and calculate their inherent risk. Even if you don't require assessments of every vendor, Discover makes it easy to organize them all in one place and get a quick inherent risk score to inform vendor tiering and profiling.

• Build a centralized vendor repository via API and bulk upload capabilities
• Schedule, track and quantify risk with a standardized inherent risk assessment
• Report on inherent risk and identify remediation options with a central risk register
• Accelerate onboarding and training with straightforward, step-by-step guidance

TPRM Jump Start Assess: Assess Your Vendors. Mitigate the Risk.

Jump Start Assess enables you to survey your top vendors, score their risk, and gain remediation guidance. You get everything in the Discover package, plus the ability to evaluate vendor cybersecurity, privacy and business resilience practices using a library of industry-standard assessments or your own customized survey.

• Schedule, track and quantify vendor risks from a library of controls-based assessments
• Reveal the impact of residual risk remediations with a library of compliance and industry-specific reports
• Simplify communications with third parties – out of email and into the Prevalent Platform
• Chart your third-party risk management program with a customized Operations Manual

Why Jump Start? Why Now?

Jump Start enables organizations to build a structured TPRM program and start seeing results in less than 30 days. Compare that to the chaos and manual labor of trading spreadsheets between you and your vendors. Instead, centralize risk management in an easy-to-use platform where:

• All vendors are managed centrally, improving visibility into how much risk they present to your business
• Inherent risk is quantified for all vendors, delivering a clear score that enables you to take informed action on the risks that matter most to you
• The highest priority vendors are assessed and scored, and risks are remediated with less manual work and fewer errors
• You have a programmatic path to build a mature third-party risk management program

Take the Next Step

Find out how Jump Start can accelerate your supply chain resilience and third-party risk assessment process. Learn more about Jump Start, take a maturity assessment, or contact us for a demo today!