Manufacturers rely on suppliers and original equipment manufacturers (OEMs) to provide essential inputs for their final products. But with every third-party relationship comes risk – from unwanted cyber intrusions and ransomware, to sourcing and labor violations – which can lead to supply chain failures that halt production. How can manufacturers assess the full scope of risks across their supplier bases to ensure supply chain resilience without overburdening their IT security, procurement and risk management teams?
Prevalent delivers a single solution that unifies the assessment, analysis, monitoring and remediation of third-party IT security and reputational risks across the supply chain. With Prevalent, manufacturers gain better risk visibility across their extended supply chains, reducing the risk of production downtime and reputational damage.
Automates the collection and analysis of supplier due diligence, helping teams to instead focus on risk management
Reduces risk by delivering visibility into 4th- and Nth-party suppliers
Simplifies assessments, incorporating IT security, reputational, regulatory, financial and other types of supplier data into a holistic view of risk
Transforms supplier risk management from a static, point-in-time project to a continuous program leveraging real-time cyber, reputational and financial insights
Prevalent has made assessing vendors infinitely easier than any manual method. Additionally, having a well-developed platform has given credibility to the program.
— IT Security Administrator, Crown Equipment Corporation
Rapidly pre-screen suppliers using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights, beneficial ownership, and maps potentially risky 4th-party relationships.
Use a simple assessment with clear scoring to track and quantify inherent risks and chart the right path for a complete supplier risk assessment.
Leverage Prevalent's library of more than 75 questionnaire templates, including cybersecurity, Modern Slavery and supply chain resilience, to determine adherence to policies and flag potential areas of concern.
Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, adverse media, conflicts of interest and more.
Tap into financial information from a global network of 365 million businesses. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.
Simultaneously screen against the world’s most important sanctions lists (including OFAC, EU, UN, BOE, FBI, BIS, etc.), over 1,000 global enforcement lists, and court filings (such as the FDA, US HHS, UK FSA, SEC and more) to proactively identify prohibited business relationships.
Corruption Perception Index (CPI) scores of company head office countries add more business context to vendor risk analysis by delivering insights into a vendor’s viability and ethics.
Access a database containing 10+ years of data breach history for thousands of companies around the world. Includes types and quantities of stolen data; compliance and regulatory issues; and real-time vendor data breach notifications.
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies risks in your extended vendor ecosystem.
Store and manage policy documents, evidence and more for dialog and attestation.
Identify, alert and communicate exceptions to common behavior with built-in report templates.
Visualize and address compliance requirements by automatically mapping assessment results to requirements.
Reduce the potential for business disruptions by ensuring that new supply chain partners adhere to sound security, labor and ethical sourcing practices, and can demonstrate resilience.
Automate the scheduling, collection, analysis, management, and remediation of supply chain risks in a central platform available to multiple internal stakeholders.
Ensure that suppliers have policies in place to reduce the risk of fines, non-compliance, business disruption and reputational damage.
The volume, variety, and velocity of third-party relationships across an organization's supply chain create a challenging...