Latest Analyst Report: The 2023 Gartner® Market Guide for Supplier Risk Management Solutions
Supplier Onboarding & Risk Monitoring
Gain critical risk insights and add assurance to supplier selection
Sourcing, selecting, and onboarding a supplier can be complicated, time-consuming, and risky – especially when you lack the right information about their operations, reputation, data breach history, and financial performance.
The Prevalent Risk Profiling Snapshot delivers centralized visibility into supplier demographic information, fourth-party technologies, ESG scores, and data breach history – as well as recent operational, reputational and financial performance insights – enabling you to make risk-based decisions from the earliest stages of the third-party lifecycle.
With the Risk Profiling Snapshot, you can replace scattered, siloed supplier information sources with a single supplier profile that’s backed by industry-standard risk scoring.
Key Benefits
-
Reduce risk by gaining insights prior to contracting with a new supplier
-
Reduce the time and cost required to investigate potential suppliers
-
Simplify risk assessments by effectively scoping further due diligence
-
Improve assurance by gaining a comprehensive and consistent view of all supplier risks in a single solution
The 2023 Gartner Market Guide for Supplier Risk Management
Get the latest insights on the SRM market, what you can expect it to do in the short term, and which solution providers can enable your program.
Key Features
-
Comprehensive Supplier Demographics Profile
Build a comprehensive supplier profile that taps into 500,000+ sources of supplier intelligence, including industry and business insights, geo-political concerns, and Corruption Perception Index (CPI) scores.
-
Fourth-Party Technology Mapping
Reveal fourth-party technologies through passive scanning and map them to third-party supplier profiles. Quickly identify potential concentration risk and uncover peripheral technologies.
-
Environment, Social & Governance (ESG) Scores
Identify ESG ratings for over 12,000 companies, including information on environmental crimes from the U.S. Environmental Protection Agency (EPA).
-
Operational Updates
Access qualitative insights from over 550,000 public and private sources of information, including M&A activity, business news, management and leadership changes, competitive news, new offerings, operational updates, and more.
-
Adverse Media Screening
View consolidated adverse media and negative news coverage sourced from 30,000 global news sources.
-
Global Sanctions Screening
Monitor global regulatory and legal sanctions from 1,000+ enforcement lists and court filings including OFAC, EU, UN, BOE, FBI, BIS, FDA, US HHS, UK FSA, SEC and more.
-
State-Owned Enterprise Screening
Avoid conflicts of interest by checking companies against a proprietary list of government-owned and government-linked enterprises.
-
Politically Exposed Persons (PEP) Screening
Screen against a global PEP database of over 1.8 million politically exposed person profiles, including their families and associates.
-
Breach Event Database
Gain a real-time view of risk for thousands of companies from a database with 10+ years of data breach history, including types and quantities of stolen data, compliance violations, and regulatory issues.
-
Financial Insights
Tap into financial information from a global network of millions of businesses across 160+ countries. Access 5 years of financial performance data, including turnover, profit and loss, shareholder funds, credit ratings, payment history, bankruptcies, investments, and more.
-
Exportable Reports
Generate consolidated PDF reports to share with internal or external stakeholders.
RFx Management Executive Brief
Learn about different vendor evaluation request documents, steps and challenges in typical RFx processes, and best practices for improving RFx automation and vendor risk visibility.
Who Wins
-
Procurement
Ensure that new suppliers do not introduce a risk of disruption by gaining a snapshot of recent reputational, operational, and financial performance.
-
IT Security
Reduce risk by monitoring for data breaches and seamlessly initiating new cybersecurity assessments.
-
Risk Management
Leverage the same solution to report on broader third-party vendor and supplier controls, unifying risk management efforts across the organization.
-
Blog PostSupplier Risk Management: The Definitive Guide
Supplier Risk Management (SRM) is increasingly raised as a board-level topic as business continuity concerns and...
-
Blog Post
RFx Management: How to Factor Risk into Sourcing & Selection
Leverage your RFP and RFI processes to reduce vendor risk from Day 1 of the third-party lifecycle.
-
Blog Post
Supplier Onboarding Strategies for Reducing Supply Chain Risk
Learn how a risk-aware approach to onboarding suppliers can enable you to stay ahead of data...
-
Ready for a demo?
- Schedule a free personalized solution demonstration to see if Prevalent is a fit for you.
- Request a Demo