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Vendor Risk Management Consulting

Build, Grow, And Optimize Your Third-Party Risk Management Program

The expanding number of breaches and increasingly complex compliance regulations are driving more organizations to formalize their third-party risk management functions. What were once short-term tactical projects delivered in organizational silos have now become strategic enterprise-wide programs with extended lifecycles.

Since an incomplete vendor risk management program can end up costing more in time and services, it’s clear that organizations must have the right partner to ensure a mature program.

A Clear Path to a Successful Business Outcome

Prevalent’s Professional Services teams work with you and your partners to deliver best practices and a cost-effective path to a successful Prevalent Third-Party Risk Management Platform implementation. Professional Services engineers deliver advisory, installation and configuration, knowledge transfer, and ongoing optimization to meet your architectural and business requirements, with multiple professional services package options available to fit your project scope.

Key Benefits

  • Delivers a cohesive services framework that can be used at all stages of program maturity
  • Provides proven expertise to ensure a best practices deployment and optimized usage
  • Ensures a complete solution, with agreed-upon milestones for ongoing success
  • Maximizes the value of your investment in the Prevalent platform
  • Delivers a unified customer care experience via collaborative, partner-friendly approach

Proven VRM Methodology

Prevalent utilizes a proven, 8-step program customized to your program maturity level.

  • Vendor Prioritization

    Vendor Prioritization

    Logically prioritize vendors for onboarding based on known service attributes.

  • Remediation Definition

    Remediation Definition

    Define a standardized and repeatable remediation approach using built-in survey risk recommendations.

  • Vendor Tiering Approach

    Vendor Tiering Approach

    Understand key profile attributes and the impact to the organization should a vendor fail in performance or service delivery.

  • Achievable Milestone Definition

    Achievable Milestone Definition

    Recommend phased program management and forecast expected usage of internal resources.

  • Platform Implementation

    Platform Implementation

    Configure the Platform to reflect your own use cases based on scoping, identified success criteria, and reporting requirements.

  • Operation Manual

    Operation Manual

    Create a manual to support Platform management, customized to reflect internal roles, responsibilities and processes.

  • Assessment Translation

    Assessment Translation

    Create optimized questionnaires from scratch, leveraging your own existing content, or utilizing the Platform survey library.

  • Program Health Check

    Program Health Check

    Assess and monitor program health based on agreed objectives, recommendations and success criteria.

Advisory Services

Prevalent Third-Party Risk Management Advisory Services help organizations establish new TPRM programs or mature their existing programs based on industry best practices. By baselining the essential components of a comprehensive TPRM program Prevalent partners with customers to ensure that objectives and milestones are achievable and operational processes are documented.

Standard Program Development

Development of a basic Third-Party Risk Management Program, designed to meet industry best practices and enable customers to leverage the Prevalent software platform.

Enterprise Program Development

Development of an enhanced Third-Party Risk Management Program, designed to meet industry best practices and enable customers to leverage the Prevalent software platform supporting vendor classification processes and the increased timeframe

Advisory Services Table

Implementation Services

Prevalent TPRM Implementation Services includes deliverables such as onboarding, training, an operation manual, survey creation and risk remediation recommendations. We work with our customer, their partners and systems integrators to ensure a mature and complete TPRM program.

Standard Platform Implementation

Implementation and configuration of the platform using an 'Out of the Box' Assessment.

Enterprise Platform Implementation

Implementation and configuration of the platform using an 'Out of the Box' Assessment, inclusive of a Supporting Operational Manual for Third Party Process (Single Use Case).

Implementation Services Table

Program Health & Optimization Services

Prevalent Program Health Check & Optimization Services measure the health of your third-party risk management program, identifying opportunities for development and optimization. With quarterly check-ins to review program milestones, Prevalent ensures customers are continuing to progress their TPRM programs.

Program Health Check


Vendor Prioritization


The Prevalent Third-Party Risk Management Platform

The Prevalent Third-Party Risk Management Platform is a unified solution that provides a 360-degree view of vendor risks. From automating vendor assessments to continuously monitoring vendors, the Prevalent Platform enables organizations to simplify compliance, reduce vendor-based risks, and improve efficiency to better scale their third-party risk management programs.