Hero pharma life sciences

Vendor Risk Management Solutions for Pharma and Life Sciences

Assess third-party data security controls and accelerate new vendor onboarding

The lifeblood of any pharmaceutical and life science company is its intellectual property (IP). Patented data and formulations for treatments, drugs and therapeutics must be protected when in the hands of trusted clinical partners and third parties. And, as new products are developed, pharmaceutical and life sciences companies must be able to quickly assess any potential third-party data security risks without slowing down the development pipeline.

Prevalent automates third-party risk assessments, providing comprehensive visibility into vendor data security risks. Using a library containing thousands of previously assessed healthcare-related suppliers, pharmaceutical and life sciences companies can quickly discern vendor risks and accelerate new vendor onboarding.

Key Benefits

  • Automates the collection and analysis of third-party data security controls, providing visibility to ensure that IP is protected when accessed by partners.

  • Reduces the risk of a supply chain disruption, adding visibility into your extended third-party ecosystem.

  • Accelerates new vendor onboarding, ensuring your company can confidently and quickly spin up new clinical trials with new partners.

  • Adds governance over the process of selecting, onboarding, assessing, and managing third parties, providing assurance, and simplifying regulatory and government audits.

 Quote pharma healthcare

Prevalent gave us the ability to understand the cybersecurity dangers to our company data, employees, and patients.

— Global 500 Pharmaceuticals Organization

Trusted by Leading Pharmaceutical and Life Sciences Organizations

Key Features

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    Supplier Pre-Screening

    Make better and faster onboarding decisions by pre-screening vendors using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time cyber, business, reputational, and financial monitoring.

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    Comprehensive Supplier Profile

    Tap into 550,000+ sources of vendor intelligence to build a centralized and comprehensive supplier profile that includes industry and business insights, beneficial ownership, and maps potentially risky 4th-party relationships.

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    Inherent Risk Scoring

    Use a simple assessment with clear scoring to track and quantify inherent risks and chart the right path for a complete third-party risk assessment.

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    Risk Assessment Library

    Leverage Prevalent's library of 200+ questionnaire templates, including the healthcare industry standard H-ISAC assessment, to determine adherence to policies and flag potential areas of concern.

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    Risk Review & Analysis

    Review and approve assessment responses to automatically register risks, or reject responses and request additional input.

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    Virtual Third-Party Risk Advisor

    Leverage a conversational AI trained on billions of events and more than 20 years of experience to deliver expert risk management insights in the context of industry guidelines such as NIST, ISO, SOC 2 and others.

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    Supplier Reputation Monitoring

    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.

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    Global Sanctions Monitoring

    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.

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    Relationship Mapping

    Identify relationships between your organization and third, fourth and Nth parties to discover dependencies risks in your extended vendor ecosystem.

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    Central Risk Register

    Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.

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    Built-in Remediation Guidance

    Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.

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    Document & Evidence Management

    Store and manage policy documents, evidence and more for dialog and attestation.

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    Compliance Reporting

    Visualize and address compliance requirements by automatically mapping assessment results to requirements.

Customer Story: Global Pharmaceutical Company

Keith Lichtenwalner, senior manager of security, risk management, and governance, discusses how his global pharmaceutical company leverages Prevalent to automate their vendor risk management program.

Who Wins

  • Procurement

    Reduce the potential for business disruptions and delivery delays by quickly ensuring that new vendors adhere to sound security and data privacy practices.

    > More procurement and sourcing benefits

  • IT Security

    Automate the scheduling, collection, analysis, management, and remediation of vendor data and security risks in a central platform available to multiple internal stakeholders.

    > More IT security benefits

  • Risk Management

    Ensure that partners have policies in place to reduce the risk of delays in the development pipeline.

    > More risk management benefits

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