PHOENIX, AZ - October 27, 2021 – Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced the latest release of its Third-Party Risk Management Platform. The enhanced platform introduces a new Connector Marketplace to unify third-party risk solution ecosystems, critical content updates to reflect changes in the regulatory, security and risk landscape, and environmental, social and governance (ESG) insights.
“Enterprises struggle to manage risk across their organizations because crucial information exists across various applications that don’t ‘talk’ to each other,” stated Alastair Parr, senior vice president of global products and risk for Prevalent, Inc. “With this new release, we address this issue through our Connector Marketplace, which gives companies a unified view of the risk in their organization for the first time. Additionally we’ve added more ESG data to ensure companies have the most comprehensive vendor profile available today.”
The Prevalent Third-Party Risk Management Platform is a SaaS solution that enables companies to automate the critical tasks required to onboard, assess, manage, continuously monitor and remediate third-party security, privacy, compliance and procurement-related risks across every stage of the vendor lifecycle. New platform highlights include:
Organizations use different enterprise applications for everything from risk management, reporting and analytics, to compliance, infosec, business, procurement, and supply chain management, making it extremely time-consuming, complex and expensive to simply share and report on risk data. The latest Prevalent Platform release addresses this issue, eliminating gaps present in a siloed approach to risk management with its new Connector Marketplace. The Connector Marketplace unifies an organization’s third-party risk solution ecosystem by leveraging a library containing dozens of pre-built connectors that easily integrate with the Prevalent Platform using a low-code approach.
With some of the most commonly used solutions available in the marketplace today, and with more added every week, the Prevalent Connector Marketplace is central to achieving a holistic view of enterprise risk management throughout the third-party risk lifecycle, and in eliminating silos for sharing data.
Environmental, social and governance (ESG) criteria are important guidelines that organizations can use to assess suppliers, vendors or other third parties against its policies and customer expectations. The Prevalent Platform improves its existing ESG capabilities by including a new feed of ESG scores on more than 12,000 companies around the world available automatically in the comprehensive vendor profile.
Additionally, Prevalent’s reputation monitoring service, available with Prevalent Vendor Threat Monitor, now includes historical reports and adverse filings from the U.S. Environmental Protection Agency (EPA) Environmental Crimes Database. With these enhancements, Prevalent delivers a comprehensive ESG vendor risk assessment solution.
For more information, please read this blog post on the new release.
Prevalent takes the pain out of third-party risk management (TPRM). Companies use our software and services to eliminate the security and compliance exposures that come from working with vendors, suppliers and other third parties across the vendor risk management lifecycle. Our customers benefit from a flexible, hybrid approach to TPRM, where they not only gain solutions tailored to their needs, but also realize a rapid return on investment. Regardless of where they start, we help our customers stop the pain, make informed decisions, and adapt and mature their TPRM programs over time.