Best Practices for Reducing Third Party Risk
WARREN, NJ – Prevalent, Inc. today announced that it has been named a Leader in The Forrester New Wave™: Cybersecurity Risk Rating Solutions, Q4 2018 evaluation. The report recognizes Prevalent as a Leader that received a differentiated rating, the highest possible score, in five criteria including risk analysis and attribution, internal and enterprise risk context, risk assessments and review portal, vision and execution, and global reach.
According to Forrester, Prevalent “leads the pack with a third-party risk management platform” and “is best for companies that want one [Third-Party Risk Management] tool with integrated cyber-risk ratings.”
Customers surveyed for the report “commend Prevalent for its wide range of capabilities,” with one customer reference stating that “no other tool matched the breadth and depth of its data and risk domain coverage.”
Forrester evaluated nine vendors across three categories: current offering, strategy, and market presence. After evaluating where Prevalent stood in relation to other solutions, Forrester gave Prevalent the highest possible rating, termed differentiated, in the following criteria:
Prevalent helps enterprises identify and manage risk in third party business relationships. It is the industry’s only unified platform that integrates a powerful combination of automated assessments, continuous monitoring of both cyber and business risks, and evidence sharing for collaboration between enterprises and vendors. Delivered as a cloud-based SaaS model, Prevalent targets enterprise customers looking for a complete, automated vendor risk management solution in one convenient platform.
“Being recognized as a Leader in the Forrester Wave is, in our opinion, a critical validator of Prevalent’s technology leadership when it comes to protecting organizations from risks posed by third party vendors,” said Jonathan Dambrot, co-found and CEO of Prevalent. “We believe Forrester’s independent assessment demonstrates the need for continuous monitoring as a supplement to assessment due diligence.”
The full Forrester New Wave™ report is available for download here.
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About Prevalent Prevalent helps enterprises manage risk in third party business relationships. It is the industry’s only purpose-built, unified platform that integrates a powerful combination of automated assessments, continuous monitoring, and evidence sharing for collaboration between enterprises and vendors. No other product on the market combines all three components, providing the best solution for a highly-functioning, effective third party risk program.
Contact Information Sara Muckstadt Product Marketing Manager Prevalent, Inc. 617-966-0067
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