Analyst Insight: The Gartner® Market Guide for IT Vendor Risk Management Solutions
Gain continuous insights into potential supplier performance problems before they impact your business
Supplier risk is constantly evolving, so your supplier risk assessments shouldn’t end after onboarding. Your organization can be impacted by a vendor’s financial instability, regulatory violation, or ethics investigation at any time. However, most third-party risk management solutions fail to deliver important financial and reputational intelligence to their customers, leaving procurement teams to manually search for and collate data.
The Prevalent Supplier Risk Monitoring Service is a managed service that continuously monitors hundreds of thousands of public and private sources of reputational, sanctions and financial information, delivering consolidated risk insights to procurement teams that need to stay ahead of supplier disruptions.
Gain continuous updates into key supplier financial metrics, news updates, reputation issues, and more
Reduce procurement costs by leveraging a single comprehensive source of financial, reputational, and business insights
Gain holistic visibility into supplier risk by correlating supplier risk assessments with existing cybersecurity assessment activities
Keep your team focused on risk analysis by outsourcing mundane and challenging data collection tasks
Get real-time insights into negative news, regulatory and legal actions, adverse media, conflicts of interest, and other reputation risks gathered from over 550,000 sources.
Access financial information from a network of millions of businesses across 160+ countries, including 5 years of organizational changes and financial performance (e.g., turnover, profit and loss, shareholder funds transparency, and more).
Screen vendors against the world’s most important sanctions lists (including OFAC, EU, UN, BOE, FBI, BIS, etc.), over 1,000 global enforcement lists, and court filings (such as the FDA, US HHS, UK FSA, SEC and more) to proactively identify prohibited business relationships.
Screen vendors against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to identify potential leadership risks.
Get contextual risk analysis with insights into vendor viability and ethics as measured by the Corruption Perception Index (CPI) scores of company head office countries.
Validate companies against a proprietary list of government-owned and government-linked enterprises to avoid conflicts of interest.
Gain access to unified risk and remediation reports based on correlated results from assessments and continuous monitoring.
An extensible automation and rules engine automatically suggests triage actions based on risks.
Get alerted to exceptions to common behavior.
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
Procurement Due Diligence Service Adds Onboarding & Assessment
The Procurement Due Diligence Service leverages Prevalent’s Vendor Risk Assessment Services to onboard vendors, collect evidence, and make remediation recommendations to accelerate your third-party risk program.
Managed Services Deliverables
The Prevalent Supplier Risk Monitoring Managed Service handles up to 100 of your key suppliers – for $9,995. The managed service includes:
Gain regular insights into key supplier financial metrics, updates and news.
Add context to cybersecurity assessments and manage vendor risks in a central platform.
Continuously monitor for risks that could negatively impact your company’s ability to deliver its products and services.
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