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

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Vendor Risk Management Solutions for Retail

Protect your brand with Prevalent third-party risk management

Retailers must not only protect their organizations against third-party cyberattacks targeting point-of-sale systems and personally identifiable information (PII), but also assess their suppliers for ethical sourcing and child labor concerns. With several regulations in place to enforce these requirements, how can organizations ensure they are assessing their third parties for the full scope of risks – both cyber and non-cyber?

Prevalent delivers a single solution that unifies the assessment, analysis and remediation of third-party IT security, privacy, reputational and regulatory risks. With Prevalent, retail organizations gain better risk visibility across their extended supply chains, reducing the risk of reputational damage and business disruptions.

How Prevalent Helps Retail Organizations

  • Automates the collection and analysis of third-party due diligence, helping teams to instead focus on risk management

  • Simplifies compliance audits, providing pre-built questionnaires and reports to satisfy multiple stakeholders

  • Unifies third-party risk management with enterprise risk management, leveraging a library of pre-built connectors to GRC tools and reporting solutions

  • Transforms third-party risk management from a static, point-in-time project to a continuous program leveraging real-time cyber, reputational and financial insights

 Quote retail

Prevalent has automated and brought consistency to the initial onboarding of all third parties, which has allowed the team to focus on what matters.

— Global 500 Retail Company

Trusted by Leading Retail Organizations

Key Features

  • Icon intake form survey gold

    Supplier Pre-Screening

    Rapidly pre-screen vendors using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.

  • Icon business info context gold

    Comprehensive Supplier Profile

    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.

  • Icon industry risk

    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.

  • Icon library gold

    Risk Assessment Library

    Leverage Prevalent's library of 125+ questionnaire templates, including for the UK Modern Slavery Act, environment, social and governance (ESG), PCI DSS, GDPR and CCPA to determine adherence to policies and flag potential areas of concern.

  • Icon analyze flag gold

    Risk Review & Analysis

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

  • Icon security rating gold

    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.

  • Icon stakeholder report

    Financial Governance & Transparency Monitoring

    Tap into financial information from a network of millions of businesses across 160+ countries. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.

  • Icon hand prohibited gold

    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.

  • Icon corruption cash gold

    Corruption Perception Index Scoring

    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.

  • Icon relationship mapping gold

    Relationship Mapping

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

  • Icon consolidate

    Central Risk Register

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

  • Icon remediate health

    Built-in Remediation Guidance

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

  • Icon document management file cabinet gold

    Document & Evidence Management

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

  • Icon compliance gold

    Compliance Reporting

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

Who Wins

  • Procurement

    Reduce the potential for business disruptions by ensuring that new supply chain partners adhere to sound security, data privacy and labor and ethical sourcing practices.

    > More procurement and sourcing benefits

  • IT Security

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

    > More IT security benefits

  • Risk Management

    Ensure that supply chain partners have policies in place to reduce the risk of fines, non-compliance, business disruption and reputational damage.

    > More risk management benefits

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