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Procurement

Leverage proactive supplier intelligence to automate and scale your procurement program

Sourcing low-risk solutions for your organization can be complicated and risky 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.

Key Benefits

  • 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.

 Quote retail

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

Key Capabilities

  • Icon share network

    Secure Sourcing

    Tap into the Prevalent Vendor Intelligence Network for thousands of completed assessments and profiles with cyber, business and financial risk scores.

  • Icon workflow gold

    Workflow & Task Management

    Communicate with suppliers and coordinate remediation efforts. Capture and audit conversations, record estimated completion dates, and assign tasks.

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    Comprehensive Evaluation

    Gain insights from more than 500,000 sources of cyber, business and financial risk information to qualify suppliers for the next stage of evaluation.

  • Icon remediate health

    Built-in Remediation Guidance

    Built-in remediation recommendations provide guidance to reduce residual risk.

  • Icon survey 2 gold

    Auto-Grading for Vendor Selection

    Ask a consistent set of questions across all vendors using an automated qualification assessment, and generate grades and ratings based on their responses.

  • Icon performance gold

    KPI Reporting

    Track resolution of issues throughout the remediation process to show risk reduction progress over time and report against KPIs.

  • Icon onboarding gold

    Automated Onboarding & Vendor Management

    Import vendors via a spreadsheet or through an API connection to an existing solution. Centralize key supplier information. Role-based access enables you to invite other employees to contribute to vendor onboarding initiatives.

  • Icon risk assessment gold

    Risk Reporting

    Leverage machine learning analytics to correlate hard-to-track metrics.

  • Icon tiering categorization gold

    Profiling, Tiering & Inherent Risk Scoring

    Use a simple assessment to track and automatically quantify inherent risks for all suppliers with a clear score.

  • Icon compliance gold

    Compliance Reporting

    Visualize and address compliance requirements by automatically mapping assessment results to regulatory and industry frameworks.

  • Icon survey gold

    Assessment Scheduling & Management

    Proactively conduct assessments, on a fixed schedule, or both; monitor real-time questionnaire completion progress; and set automated chasing reminders.

  • Icon contract flexible license

    Document & Evidence Management for Negotiation

    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.

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    Assessment Library

    Leverage 50+ pre-defined assessment templates, including industry-standard questionnaires, the Prevalent Compliance Framework (PCF), and customizable questionnaires.

  • Icon check box

    Contract Assessment

    Provide a dedicated contract assessment questionnaire to identify potential breaches of contract and other risks.

  • Icon dashboard gold

    Performance & SLA Management

    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.

  • Icon offboarding exit gold

    Automated Offboarding

    Customizable surveys and workflows report on system access, data destruction, final payments, and more.

  • Ready to get started?
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