Analyst Insight: The Gartner® Market Guide for IT Vendor Risk Management Solutions

Prevalent Expands Reporting Capabilities to Ensure All Teams Have the Right Risk Visibility

Prevalent Platform v3.25 introduces a new fully configurable third-party risk report as well as several feature enhancements.
Alastair Parr
Senior Vice President, Global Products & Services
July 21, 2021
Blog 325 new features 10721

When it comes to third-party risk assessment, every team has risks that it considers more critical than others. For example, privacy teams closely scrutinize data protection risks, while IT security teams place a heavy emphasis on third-party access controls. Procurement teams need to evaluate a vendor’s financial viability, whereas operations teams must ensure business resilience. Accordingly, a one-size-fits-all risk report is unable to satisfy the needs of multiple enterprise stakeholders.

Prevalent Platform v3.25 expands its comprehensive reporting capabilities by introducing an enhanced Entity Risk Report that is easily configured for different audiences. With this enhancement, customers can define which risks, risk fields, graphics, and summaries to include in a PDF-exportable risk report.

Customizable Third-Party Risk Reporting for Every Stakeholder

Within the updated report builder, customers can view the Entity Risk Report in either a standard table view or a more detailed format – both of which can be exported to PDF for distribution within the organization. Users can also create custom reports by easily configuring individual attributes and fields to meet specific stakeholder requirements. Configurable options include risk and monitoring scores on the report cover; entity details including custom entity fields; an editable executive summary; and risk item information including custom risk fields.

This update ensures that each stakeholder in the customer's TPRM program has easy access to risk insights that are relevant to their area of expertise.

Prevalent TPRM Platform Entity Risk Report

The customizable Entity Risk Report enables granular adjustments for specific audiences.

Additional Enhancements in Prevalent Platform v3.25

Additional enhancements available in Platform v3.25, include:

  • The ability to bulk upload answers to multiple submissions at once
  • The introduction of a document owner for managing document-related notifications
  • Updates to the entity tasks page to show all tasks relating to an entity, including survey answer and risk item tasks

Next Steps

If you're a customer, be sure to check out the Prevalent Customer Portal to read the release notes. If you’re new to Prevalent, request a demo to discover how we can help you get ahead of third-party risk at every stage of the vendor lifecycle.

Leadership alastair parr
Alastair Parr
Senior Vice President, Global Products & Services

Alastair Parr is responsible for ensuring that the demands of the market space are considered and applied innovatively within the Prevalent portfolio. He joined Prevalent from 3GRC, where he served as one of the founders, and was responsible for and instrumental in defining products and services. He comes from a governance, risk and compliance background; developing and driving solutions to the ever-complex risk management space. He brings over 15 years’ experience in product management, consultancy and operations deliverables.

Earlier in his career, he served as the Operations Director for a global managed service provider, InteliSecure, where he was responsible for overseeing effective data protection and risk management programs for clients. Alastair holds a university degree in Politics and International Relations, as well as several information security certifications.

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