Free TPRM tools: Get a free maturity assessment, a free risk report, or business & financial monitoring for 20 vendors!

Hero third party incident response

Solutions for Risk Management Teams

Unify third-party risk management with operational risk management

Chief Risk Officers (CROs), risk managers and risk analysts are tasked with managing risks to a level acceptable to the business. To achieve this goal, risk management teams must assess multiple types of risk across the organization – including from third parties. However, most organizations treat risk management in silos and use insufficient, manual processes to collect, collate and score risks. This results in third-party risk scoring and management practices that are inconsistent with other operational risk management initiatives.

Prevalent automates the collection and analysis of vendor risk information and applies a consistent scoring model that can be leveraged across the organization. With a built-in API to integrate with GRC solutions, the Prevalent TPRM Platform enables risk management teams to unify disparate practices for centralized risk mitigation and remediation.

Key Benefits

  • Unify vendor risk with other organizational risk management initiatives by integrating Prevalent TPRM with your GRC platform

  • Improve efficiency by automating risk assessments and eliminating cumbersome, spreadsheet-based processes

  • Gain real-time visibility into third-party risks to fill gaps between regular assessments

  • Simplify risk management reporting across the organization with built-in templates

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.

  • Icon industry risk

    Inherent Risk Scoring

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

  • Icon tiering gold

    Profiling & Tiering

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

  • Icon tiering categorization gold

    Categorization

    Categorize vendors with rule-based logic based on a range of data interaction, financial, regulatory and reputational considerations.

  • Icon survey 2 gold

    Risk Assessment Library

    Leverage 60+ standardized risk assessment surveys, a custom survey creation wizard, and a questionnaire that maps responses to compliance regulations and frameworks.

  • Icon monitor magnifying glass

    Continuous Monitoring

    Monitor the Internet and dark web for cyber threats and vulnerabilities, as well as public and private sources of reputational, sanctions and financial information to fill gaps between periodic risk assessments.

  • Icon consolidate

    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.

  • Icon risk score gold

    Risk Scoring & Analysis

    Quickly gauge the impact of vendor risks with consolidated views of risk ratings, counts, scores and flagged responses for each vendor.

  • Icon workflow gold

    Workflow

    Built-in discussion tools facilitate communication with suppliers on remediating risk register issues. Capture and audit conversations, records, and estimated completion dates. Assign tasks based on risks, documents, or entities and match documentation or evidence against risks.

  • Icon document management file cabinet gold

    Document & Evidence Management

    Collaborate on supporting evidence, documents and certifications, such as NDAs, SLAs, SOWs and contracts, with built-in version control, task assignment and auto-review cadences. Manage all documents throughout the vendor lifecycle in centralized vendor profiles.

  • Icon api connector gear

    Integrate with GRC Solutions

    Maximize the value of your organization's GRC solution by connecting it to the Prevalent TPRM Platform using a built-in API connector.

  • Icon remediate health

    Built-in Remediation Guidance

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

  • Icon library gold

    Report Template Library

    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 relationship mapping gold

    Data & Relationship Mapping

    Identify relationships between your organization and third parties to discover dependencies and visualize information paths.

  • Icon offboarding exit gold

    Offboarding & Termination

    Leverage customizable surveys and workflows report on system access, data destruction, access management, compliance with all relevant laws, final payments, and more.

Related Solutions

  • Prevalent Third-Party Risk Management Platform

    Automate the identification, analysis and remediation of vendor security risks with a centralized solution.

  • Prevalent Vendor Risk Assessment Services

    Outsource risk assessment, analysis and remediation to our managed services team.

  • Prevalent Vendor Risk Networks

    Access a vast library of completed and standardized vendor risk assessments.

  • Ready to get started?
  • Schedule a personalized solution demonstration to see if Prevalent is a fit for you.
  • Request a Demo