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Vendor Risk Assessment

Automated Third-Party Risk Assessment

Industry regulations and cyber security best practices require you to ensure that your vendors, partners and other third parties employ adequate security controls. However, assessing third-party controls can be inefficient and costly, while often causing “survey fatigue” among vendors. 

With the Prevalent™ Assessment Service, you automate and simplify security and compliance risk assessments, extending the visibility, efficiency and scale of your third-party risk management program.

Speed vendor assessments to simplify compliance & reduce risk

The Prevalent Assessment Service delivers inside-out assessments of vendor compliance with IT data security, regulatory and privacy requirements. With a library of over 50 standardized assessments, content customization capabilities, and built-in workflow, the solution automates everything from survey collection and analysis to risk identification and reporting. 

Part of the cloud-based Prevalent Third-Party Management Platform, the Assessment Service is integrated with outside-in risk monitoring to deliver a comprehensive, 360-degree view of vendor security and compliance.

Key Benefits

  • Reduce the manual labor behind vendor survey management 
  • Zero-in on risks and control failures, and gain actionable remediation guidance
  • Clearly communicate actual business risk to stakeholders 
  • Speed communications and status reporting with vendors 
  • Increase risk visibility and measure program effectiveness

Key Features

Vendor Survey Selection or Creation

Survey Selection Creation

Leverage 50+ pre-defined assessments including SIG Core, SIG Lite and H-ISAC standardized questionnaires, as well as GDPR, FCA, PCI-DSS, ISO 27001, NIST and other framework-specific surveys. It’s also easy to build custom questionnaires with risk and control elements relevant to your business.

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Vendor Survey Scheduling Assistant

Survey Scheduling Assistant

Quickly specify the “what, when and how” behind assessments; monitor real-time questionnaire completion progress; and set automated chasing reminders to keep surveys on schedule.

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Automated Vendor Risk & Compliance Registers

Automated Risk Compliance Registers

Generate risk registers upon survey completion, filtering out noise and focusing on areas of concern. Understand your risk profile with real-time results, and generate reports to document status by regulation.

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Vendor Risk Remediation Workflow

Remediation Workflow

Efficiently communicate with vendors and coordinate remediation efforts. Capture and audit conversations; record estimated completion dates; assign tasks based on risks, documents or entities; and match documentation and evidence to risks.

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Live Reporting

Live Reporting

Reveal risk trends and status for individual vendors or groups. Quickly get the details you need via interactive charts with filtering and drill-down capabilities (e.g., view status by compliance requirement).

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Compliance-Specific Reporting

Products Assess Compliance Reporting Screenshot

Automatically map information gathered from control-based assessments to regulatory frameworks including ISO 27001, NIST, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, SOX, and NYDFS to quickly visualize and address important compliance requirements.

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Data Mapping & Relationships

Data Mapping Relationships

Identify relationships between your organization and third parties to discover dependencies and visualize information paths.

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Vendor Dashboard

User Dashboard

Provide an overview of tasks, schedules, risk activities, response status, agreements and documents.

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Document & Evidence Management

Video Document Management

Centralize agreements, contracts and supporting evidence with built-in task and acceptance management, plus mandatory upload features.

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Entity Management

Video Entity Management

Simplify vendor management with dashboards for individual entities and entity groups. Capabilities include bulk entity import; assessment and remediation status reporting; entity categorization by criticality to the business; and other functions for managing the full vendor lifecycle.

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Task Management

Video Task Management

Simplify both internal and vendor communications with centralized task creation and management. Create tasks related to risks or other items; check task status via email rules linked to the platform; and access full audit trails to ensure closed-loop risk management.

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The Prevalent Third-Party Risk Management Platform

The Vendor Assessment Service is part of Prevalent’s integrated third-party risk management platform, a unified solution that provides a 360-degree view of vendor risk. With the Prevalent TPRM platform, you simplify compliance, reduce risk, and improve efficiency to scale your third-party risk management program.

Learn More About Our Key Capabilities