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.
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.
The customizable Entity Risk Report enables granular adjustments for specific audiences.
Additional enhancements available in Platform v3.25, include:
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.
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