Latest Report: The 2022 Gartner® Market Guide for IT Vendor Risk Management Solutions
Assess, analyze, track and continuously monitor risks across the supplier lifecycle
A supplier's ability to fulfill orders and deliver services can be disrupted by everything from cybersecurity failures and regulatory violations to geopolitical events and health crises. However, many organizations attempt to manage supplier risks using a complicated web of disparate tools. This approach leaves blind spots in risk visibility, slows onboarding, and complicates ongoing suppler risk management (SRM) activities.
The Prevalent Third-Party Risk Management Platform enables procurement, IT and supplier management teams to streamline risk assessments and continuously monitor for new risks at every stage the supplier relationship. The solution centralizes, correlates and analyzes supplier data on several topics, including:
As a result, your organization benefits from accelerated supplier onboarding, increased efficiency, and a more secure supply chain.
9 Best Practices for Your SRM Strategy
Discover Prevalent's approach to building business resilience against supply chain disruptions.
Make faster and more informed onboarding decisions with automated evaluations backed by external risk intelligence
Improve visibility across teams by unifying data from multiple sources into a single source of the truth
Stay on top of emerging supplier risks with continuous cyber, business, reputational and financial monitoring
Strengthen resilience by centralizing risk visibility and speeding workflows across the supplier lifecycle
Prevalent has supported our journey to evolve and adapt a monitoring process around a global pandemic.
— Large Automotive Manufacturer
Centralize RFPs and RFIdistribution, comparison and management. Automatically migrate selected suppliers to contracting or pre-contract due diligence workflows..
Centralize supplier contract onboarding, distribution, discussion, retention and review. Leverage workflow to ensure that contracts include and enforce supplier resilience measures.
Build a comprehensive supplier profile that includes beneficial ownership, financial performance, CPI scores, Modern Slavery statements, industry and business insights, and maps potentially risky 4th-party relationships.
Leverage the largest library of assessments available, with 200+ templates covering topics from IT security and data privacy, to ESG, ABAC and more. Or build and customize your own assessments with a simple drag-and-drop wizard.
Validate business controls by normalizing, correlating and analyzing assessment results with intelligence from continuous risk monitoring.
Take actionable steps to reduce supplier risk with built-in remediation recommendations and guidance.
Visualize and address compliance requirements by automatically mapping assessment results to regulatory requirements and IT controls frameworks.
Gain visibility into vendor contract status, attributes, performance metrics and more with a centralized, customizable dashboard.
Add intelligence to supplier pre-contract due diligence with insights into demographics, 4th-party technologies, ESG and CPI scores, business and reputational events, data breach history, and financial performance.
Accelerate onboarding and eliminate error-prone manual processes by importing suppliers through an intake form, spreadsheet template, or API connection to your existing procurement solution.
Leverage a simple questionnaire with clear scoring to track and quantify inherent risks, tier suppliers, and inform the scope and frequency of subsequent assessments.
Score supplier risk based on data aggregated from multiple sources of cyber, financial, reputational, ESG, business event, sanctions, PEP, CPI, and state-owned enterprise intelligence.
Leverage an automation and rules engine that can suggest actions or adjust risk scores based on assessment results and external data feeds. Automatically create tasks and assign owners to track issues to conclusion.
Reveal risk trends, statuses, and exceptions to common behavior with embedded machine learning insights.
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and risks in your extended supplier ecosystem.
Leverage customizable surveys and workflows to report on system access, data destruction, access management, compliance with relevant laws, final payments and more.
The Supply Chain Resilience Toolkit
Based on ISO 22301 standard practices, the Supply Chain Resilience Toolkit provides instant access to expert guidance, customizable templates, and structured worksheets.
Reduce the potential for business disruptions and reputational damage by ensuring that new vendors adhere to acceptable policies and performance thresholds.
Automate cyber supply chain risk management (C-SCRM), and gain context into non-IT risks that can signal potential future security problems.
Benefit from a holistic view of a supplier’s risks – IT and non-IT related – in a single solution featuring built-in compliance reporting templates.
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