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Professional Services

Design, implement & optimize your third-party risk management program

Prevalent™ Professional Services is here to help you build a comprehensive third-party risk management (TPRM) program that’s based on proven best practices and extensive real-world experience. Our experts can collaborate with your team on everything from defining your TPRM processes and implementing necessary solutions, to continually evaluating and optimizing your program to address the entire third-party risk lifecycle.

Key Benefits

  • Rely on a services framework designed to deliver benefits throughout the vendor lifecycle

  • Leverage best practices for maximizing TPRM adoption at all levels of program maturity

  • Implement a complete TPRM program with clear and measurable milestones

  • Maximize your ROI from Prevalent Third-Party Risk Management Platform solutions

  • Experience collaborative and partner-friendly customer care

  • Tap into our experience designing and deploying TPRM programs for hundreds of customers

Datasheet Advisory Consulting Services

We appreciate not only the platform, but also the willingness to stand behind it and enhance it with human interaction.

— Information Security Analyst, Financial Services Company

Program Design Services

Prevalent Program Design Services define and document your third-party risk management program. You’ll walk away with a clear plan that accounts for your specific needs while incorporating best practices for end-to-end TPRM.

  • Manage Steering & Working Groups: Identify participants and define agendas/structure, presentation formats, and notable metrics; manage minutes.
  • Scope Program & Business Requirements: Identify key vested parties and document their requirements, objectives, and expectations.
  • Define KRIs & KPIs: Work with stakeholders to define metrics for reporting on program KRIs/KPIs. Conduct reviews to interpret metrics and determine progress.
  • Review & Scope TPRM Policy: Analyze and review existing third-party management policy.
  • Review or Define the Process: Review or define end-to-end processes to migrate third parties into a single cohesive workflow.
  • Review Team Structure & Capacity: Assess internal capabilities, team skill sets, and workload levels to determine optimal resource allocation.
  • Educate the Business: Identify training and communication needs for sharing progress and metrics with executive leadership, board members, and other business stakeholders.
  • Implement a Program Improvement Plan: Document a project plan for communicating program improvements. Review, track, and resolve issues over the course of the program.

Implementation Services

Prevalent Implementation Services ensure that the Prevalent TPRM Platform is tuned according to your organization’s unique requirements, that your processes and resources are aligned for success, and that your team is fully trained.

  • Define Success Criteria & Manage the Implementation: Coordinate with internal teams to define project success criteria and manage the implementation to a successful conclusion.
  • Identify Content: Determine third-party contacts, attributes, and relationships. Select a survey template from the Prevalent library based on assessment goals.
  • Prepare the Platform: Build vendor email communications and leverage built-in ActiveRules, workflows, and automated risk recommendations to expedite risk mitigation.
  • Configure the System: Establish authentication rules; handle integration with the email system and website; and define system users and roles.
  • Prioritize & Tier Vendors: Identify and prioritize vendors for onboarding based on their service to your organization. Utilize key profile attributes and inherent risk scoring to logically tier vendors.
  • Create Operations Manual: Support Platform management with a manual customized for internal roles, resources, responsibilities, and processes.
  • Demonstrate & Debrief: Perform a walkthrough of all features and capabilities. Onboard and train users.
  • Customize: Create customized intake forms, surveys, risks, automations, workflows, and reporting. Onboard agreements and contracts, and define SLAs and performance metrics.

Program Optimization Services

Prevalent Program Optimization Services help you to continually improve your Prevalent Platform deployment, ensuring that your TPRM program maintains the flexibility and agility it needs to meet evolving business and regulatory requirements.

  • Operations Manual: Provide an annual health check of existing process material to ensure it is current and suitably maintained.
  • Maturity Assessment: Gauge the health of your third-party risk program and identify opportunities for development. Includes scoring against each pillar of the TPRM program, with supporting objectives and milestones.
  • Platform Functionality Review: Maximize return on your Prevalent Platform investment by ensuring your team is up-to-speed on the latest capabilities.
  • Achievable Milestone Definition: Identify and define acceptable vendor assessment volumes based on best practice and access to resources.
  • Optimization Plan Definition: Produce a live project plan for ongoing management and formal review with clear TPRM program objectives and ownership.
  • Ready to get started?
  • Schedule a personalized solution demonstration to see if Prevalent is a fit for you.
  • Request a Demo