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Third-Party Vendor Risk Assessment

Automate and accelerate the vendor risk assessment process

The Prevalent Vendor Risk Assessment solution enables you to automate and accelerate vendor security and compliance risk 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, GRC and security scoring solutions for centralized risk management

  • Scale your program with flexible platform configuration options​

 Quote pharma healthcare

Prevalent have provided us with a scalable, repeatable approach both in terms of efficiency and cost which really addresses the issues we were facing around our supplier risk management.

— Information Security & Assurance Specialist, Cancer Research UK

  • Vendor Profiling, Tiering & Inherent Risk Scoring

    Screenshot tprm platform inherent risk

    Schedule, track and automatically quantify inherent risks for all vendors with a clear score using a simplified assessment. Profiling and tiering enables accurate categorization to ensure that vendors are assessed according to their importance to the business.

  • Vendor Assessment Library

    Screenshot survey selection

    Leverage 50+ pre-defined assessment templates including SIG Core, SIG Lite and H-ISAC standardized questionnaires, as well as GDPR, FCA, PCI-DSS, ISO 27001, CMMC, 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 Assessment Scheduling & Management

    Screenshot scheduling

    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, integrating real-time cyber and business monitoring insights to automate risk reviews, reporting and response. Generate reports to document status by regulation.

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  • Unified Risk Register for Assessment & Monitoring

    Screenshot unified risk register

    Prevalent normalizes, correlates and analyzes information across inside-out risk assessments and outside-in monitoring from Prevalent Vendor Threat Monitor and BitSight. This unified model provides context, quantification, management and remediation support.

  • Automated Actions with Playbooks

    Screenshot activerules playbook

    Leverage a pre-packaged library of ActiveRules to automate a range of tasks normally performed as part of the onboarding, assessment and review processes – such as updating vendor profiles and risk attributes, sending notifications, or activating workflow – utilizing if-this, then-that logic.

  • Vendor Risk Remediation Workflow

    Screenshot risk remediation workflow

    Efficiently communicate with vendors and coordinate remediation efforts. Capture and audit conversations; record estimated completion dates; accept or reject submissions on an answer-by-answer basis; assign tasks based on risks, documents or entities; and match documentation and evidence to risks. Includes built-in remediation guidance to accelerate risk mitigation.

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  • Reporting & Analytics with Machine Learning

    Screenshot tprm platform report machine learning

    Reveal risk trends, status and exceptions to common behavior for individual vendors or groups with embedded machine learning insights. Quickly identify outliers across assessments, tasks, risks, etc. that could warrant further investigation.

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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, CMMC, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, SOX, NYDFS, and more to quickly visualize and address important compliance requirements.

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  • Data & Relationship Mapping

    Data Mapping Relationships

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

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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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  • Vendor & 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; key entity information such as location, ownership, revenue, SIC code, fiscal year end, mapping of fourth parties; and other functions for managing the full vendor lifecycle.

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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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