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Third-Party Vendor Risk Assessment

Streamline the vendor risk assessment process

The Prevalent Vendor Risk Assessment solution enables you to speed and simplify vendor security and compliance assessments, extending the visibility, efficiency and scale of your third-party risk management program.

With a library of 50+ standardized assessments, content customization capabilities, and built-in workflow, the solution automates everything from survey collection and analysis to vendor risk rating and reporting.

Part of the cloud-based Prevalent Third-Party Management Platform, Vendor Risk Assessment is integrated with outside-in Vendor 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

  • Integrate with ITSM and GRC solutions for centralized risk management

  • Scale your program with flexible platform configuration options​

  • Vendor Survey Selection & Creation

    Screenshot survey selection

    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 more with the Prevalent Compliance Framework (PCF). 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

    Screenshot scheduling

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

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  • Vendor Risk Ratings & Compliance Registers

    Screenshot risk register

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

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  • Vendor Risk Remediation Workflow

    Screenshot risk 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

    Screenshot compliance specific reporting

    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

    Screenshot vendor dashboard

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

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  • Document & Evidence Management

    Screenshot 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

    Screenshot 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

    Screenshot 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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Let us do the heavy lifting

From managing your risk assessment process to monitoring vendors for emerging risks, our Vendor Risk Assessment Service frees your team to focus on remediating risk and keeping your business moving forward.

Learn About Vendor Risk Assessment Services
Promo managed services

A Unified Third-Party Risk Solution

  • Vendor Assessment

    Measure compliance with data security and privacy requirements via automated vendor risk assessment, review, analysis, remediation and reporting.

  • Vendor Monitoring

    Gain an outside-in view of risk with continuous vendor risk monitoring, notification of critical issues, and remediation guidance.

  • Vendor Networks

    Access vendor risk networks of completed, standardized assessments to quickly check risk scores and augment 1:1 assessment activities.

  • Ready to get started?
  • Schedule a personalized solution demonstration to see if Prevalent is a fit for you.
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