Leverage proactive supplier intelligence to automate and scale your procurement program
Sourcing low-risk solutions for your organization can be complicated when you use spreadsheets to manually onboard, assess and manage suppliers and other third parties. Prevalent helps procurement teams reduce supplier risks and automate the third-party lifecycle.
The Prevalent Third-Party Risk Management Platform streamlines the risk assessment process, provides continuous visibility into potential threats, and accelerates the compliance and SLA reporting process. With Prevalent, you can be more proactive in assessing risk while scaling your procurement program.
Contract with confidence: Proactively evaluate suppliers to identify financial, reputational or inherent risk across the portfolio.
Collaborate with security teams: Use a single solution across the organization to source lower risk alternatives, negotiate better contracts, monitor supplier performance and risks, and make more informed renewal decisions.
Accelerate due diligence: Reduce the time and costs associated with assessing suppliers to enable faster onboarding and due diligence.
Hold vendors accountable: Spot potential and actual disruptions with proactive supplier performance and SLA monitoring.
Comply without the burden: Report against any regulatory, legal or industry frameworks with pre-built templates.
Scale with quality: Save time throughout the procure-to-pay lifecycle. Quickly gain risk and supplier visibility without adding resources.
Prevalent has automated and brought consistency to the initial onboarding of all third parties, which has allowed the team to focus on what matters.
— Global 500 retail company
Tap into the Prevalent Vendor Intelligence Network for thousands of completed assessments and profiles with cyber, business and financial risk scores.
Communicate with suppliers and coordinate remediation efforts. Capture and audit conversations, record estimated completion dates, and assign tasks.
Gain insights from more than 500,000 sources of cyber, business and financial risk information to qualify suppliers for the next stage of evaluation.
Built-in remediation recommendations provide guidance to reduce residual risk.
Ask a consistent set of questions across all vendors using an automated qualification assessment, and generate grades and ratings based on their responses.
Track resolution of issues throughout the remediation process to show risk reduction progress over time and report against KPIs.
Import vendors via a spreadsheet or through an API connection to an existing solution. Centralize key supplier information using expansive intake capabilities. Role-based access enables you to invite other employees to contribute to vendor onboarding initiatives.
Leverage machine learning analytics to correlate hard-to-track metrics.
Use a simple assessment to track and automatically quantify inherent risks for all suppliers with a clear score.
Visualize and address compliance requirements by automatically mapping assessment results to regulatory and industry frameworks.
Proactively conduct assessments, on a fixed schedule, or both; monitor real-time questionnaire completion progress; and set automated chasing reminders.
Store and distribute documents for dialog and attestation during the sourcing process – for example NDAs, SLAs, statements of work, and agreements and contracts – with version control, built-in tasks, and an auto-review cadence.
Leverage 50+ pre-defined assessment templates, including industry-standard questionnaires, the Prevalent Compliance Framework (PCF), and customizable questionnaires.
Provide a dedicated contract assessment questionnaire to identify potential breaches of contract and other risks.
Inform performance reviews and negotiations with a single repository for contracts; terms and conditions; key dates; and SLA and KPI data. Customizable surveys gather and analyze necessary performance and contract data in a single register.
Customizable surveys and workflows report on system access, data destruction, final payments, and more.
See why Prevalent is named a Leader among 23 IT VRM providers
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