Forrester Names Prevalent a Leader.
Outsourced Collection, Analysis, and Identification of Third-Party Risks
Every organization must meet compliance and risk obligations stemming from their use of third parties, vendors, or partners. However, processes can be taxing on under-resourced teams and the ever-shifting regulatory landscape requires expertise to understand compliance reporting obligations.
How can organizations achieve compliance and vendor risk management requirements while maximizing their team’s skillsets?
The Prevalent Risk Operations Centers are teams of third-party risk management experts who collect vendor evidence, review for completeness, and provide remediation guidance for top risks.
Define initial scope requirements and map to Managed Service options.
Implement entitles and key Platform data while documenting operations manuals.
Issue assessments and manage responders to ensure visibility is provided in a timely manner.
Conduct follow-up assessments where necessary to deliver business outcomes.
Maintain visibility and accuracy through health checks and conduct program reviews to plan next steps.
Connect with online or telephone support at the Risk Operations Center closest to you. We have experts on hand to address Platform issues, assist with assessment queries, and provide remediation guidance for top risks
Full configuration and maintenance of the Platform to maintain health and accuracy.
Onboarding, review and maintenance of entities within the Platform, ensuring points of contact, hierarchy, and attributes remain correct.
First and second line support for assessments, addressing queries directly relating to Platform usage and content issued/required.
Proactive management of assessments, chasing responses and issuing guidance content to improve response rates.
Detailed analysis of assessment results and progress, providing simple management information and trends.
Depending on your organization’s resourcing and priorities, you can choose between three options.
Manages the collection of completed assessments from vendors and second parties.
Builds on the Collect license by including reviews of captured content, confirming document evidence is accurate, and identifying potential issues.
Manages elements of the risk management process. This is provided for the top 10 risks identified unless otherwise scoped.
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.
Prevalent, “leads the pack with a third party risk management platform… best for companies that want one TPRM tool with integrated cyber-risk ratings.” The Forrester New Wave™: Cybersecurity Risk Rating Solutions, Q4 2018. Nick Hayes and Trevor Lyness. November 13, 2018
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