- Ability to launch vendor assessments and build questionnaires
- Simple-to-use Vendor Analytics dashboards
- Control over adjusting third party vendor risk scores
- Ability to create findings
- Open communication with vendors and customers
You know that assessing your vendors is a critical aspect of your third party risk management program. But you also know it’s expensive, time-consuming, and often painful - for both your organization as well as your vendors. Not anymore.
The Prevalent Exchange™ is a cost-effective and time-reducing way to assess third party vendor risk. Vendor evidence (questionnaires, surveys, certifications, etc.) is either collected for you by Prevalent, or contributed to the Exchange by the vendor. Exchange participants simply request access to the evidence, and after a quick vendor approval, it’s available for review.
Organizations joining the Exchange will have immediate access to the evidence provided by vendors and vendors can contribute their completed questionnaires directly to the Exchange. The platform architecture is built on the reality that all organizations are both customers that need to assess their vendors, and vendors that need to share their evidence with their customers. Companies can leverage the Exchange to share their evidence with their customers, greatly reducing the ever-expanding burden of responding to customer security controls requests.
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