Analyst Insight: The Gartner® Market Guide for IT Vendor Risk Management Solutions

Hero it security team

Solutions for Security & IT Teams

Automate the identification, analysis and remediation of third-party risks to close security gaps

Recent third-party data breaches have shown that CISOs, IT security managers, and security analysts must be diligent about assessing and monitoring vendors, suppliers and partners for security risks.

However, most third-party risk assessment practices leave security leaders to track everything in spreadsheets and correlate data between disparate tools. This time-consuming, manual approach opens security gaps that expose your organization to breaches and other headline-grabbing incidents.

The Prevalent Third-Party Risk Management (TPRM) Platform enables IT security teams to stay ahead of vendor risk by automating risk assessments, analyzing results for potential exposures, continuously monitoring for cybersecurity weaknesses, and streamlining remediation activities.

As a result, IT security leaders gain the centralized, clear and actionable insights they need to better protect your organization against third-party data breaches.

Key Benefits

  • Eliminate spreadsheets by automating and centralizing risk identification, analysis, management and remediation

  • Make better decisions with machine learning analytics that deliver unparalleled insights into vendor risk trends, security status, and outlier events

  • Close security gaps by validating point-in-time controls assessments with continuous cyber monitoring insights

  • Knock down silos and gain a unified view of vendor risk by integrating Prevalent TPRM with existing security and GRC tools and frameworks

Key Capabilities

  • Icon onboarding gold

    Automated Onboarding

    Import vendors via a spreadsheet template or through an API connection to your existing procurement solution, eliminating error-prone, manual processes.

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    Library of Reusable Content

    Rapidly pre-screen vendors using a library of completed risk assessments with inherent/residual risk scores, assessment results and real-time monitoring.

  • Icon industry risk

    Inherent Risk Scoring

    Use a simple assessment with clear scoring to capture, track and quantify inherent risks for all third parties.

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    Profiling & Tiering

    Automatically tier suppliers according to their inherent risk scores, set appropriate levels of diligence, and determine the scope and frequency of assessments.

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    Risk Assessment Library

    Leverage 125+ standardized risk assessment surveys, a custom survey creation wizard, and a questionnaire that maps responses to compliance regulations and frameworks.

  • Icon vendor risk scale

    Rapid Incident Response

    Use Prevalent's continuously updated, customizable event and incident management assessment questionnaire to determine the impact of security incidents affecting your vendors.

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    Automated Risk & Compliance Registers

    Automatically generate a risk register for each vendor upon survey completion. View centralized risk profiles in a real-time reporting dashboard and download or export reports to support compliance efforts.

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    Automated Response Actions

    Act on risks according to their potential business impact with automated risk response playbooks that can be triggered by a library of workflow rules.

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    Cyber Threat Intelligence

    Reveal third-party cyber incidents and prioritize vendor assessments with insights from 1,500+ criminal forums; thousands of onion pages, 80+ dark web special access forums; 65+ threat feeds; and 50+ paste sites for leaked credentials — as well as several security communities, code repositories, and vulnerability databases.

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    Single Risk Register for Assessments & Monitoring

    Prevalent normalizes, correlates and analyzes information across risk assessments and monitoring. This unified model provides context, quantification, management and remediation support.

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    Risk Scoring & Analysis

    Quickly gauge the impact of vendor risks with scores that are adjustable according to your organization’s risk tolerance.

  • Icon database warning alert gold

    Breach Event Notification Monitoring

    Access a database containing 10+ years of data breach history for thousands of companies around the world. Includes types and quantities of stolen data; compliance and regulatory issues; and real-time vendor data breach notifications.

  • Icon remediate health

    Built-in Remediation Guidance

    Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.

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    Reporting & Dashboards

    Gain visibility into risk and compliance status, performance metrics, and other data via centralized dashboards; leverage PowerBI or QuickSight integration for custom reporting.

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    Machine Learning Reporting & Analytics

    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, and other factors that could warrant further investigation.

  • Icon compliance gold

    Compliance-Specific Reporting

    Automatically map information gathered from control-based assessments to ISO 27001, NIST, CMMC, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, SOX, NYDFS, and other regulatory frameworks to quickly visualize and address important compliance requirements.

  • Icon analyze flag gold

    Event Reporting

    Enable vendors to submit proactive event assessments – or issue assessments related to data breaches, notifications and other events – and dynamically adjust vendor risk scores based on the results.

  • Icon offboarding exit gold

    Automated Offboarding

    Leverage customizable assessment surveys and workflows to track system access, data destruction, access management, compliance controls, and other termination criteria.

Who Benefits from Prevalent TPRM Solutions

Learn how Prevalent helps security, risk management, privacy, procurement, audit and legal teams reduce vendor and supplier risk in their organizations.

Related Solutions

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