RFP Toolkit for Third-Party Risk Management Solutions: Free Customizable Template and Scoring Sheet!

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Supplier Risk Management

Assess, analyze, track, and monitor supplier risks

A supplier's ability to fulfill orders can be impacted by everything from poor financial performance and regulatory findings to geo-political events and pandemic disruptions – not to mention cybersecurity failures.

However, many organizations use a complicated web of disparate tools to to track and manage supplier risks. The result? Gaps in visibility that leave them unprepared for supply chain disruptions.

The Prevalent Third-Party Risk Management Platform enables procurement and sourcing teams to centrally assess, analyze, track, and continuously monitor supplier risks across categories including:

Prevalent unifies supplier risk management with IT vendor risk management for a holistic view of your third-party ecosystem.

Key Benefits

  • Automate the collection of supplier controls data and supporting evidence with a centralized, workflow-driven platform

  • Benchmark supplier data against industry-standard best practices with mapping and reporting against control frameworks and regulations

  • Identify new and emerging supplier risks with continuous cyber, business, reputational, and financial monitoring

Case study automotive

Prevalent has supported our journey to evolve and adapt a monitoring process around a global pandemic.

— Large Automotive Manufacturer

Key Features

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    RFx Management

    Centralize the distribution, comparison, and management of RFPs and RFIs, providing automation and risk intelligence to vendor selection decisions. Migrate the selected vendor to established contract workflows or third-party due diligence at the end of the RFx process.

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    Contract Lifecycle Management

    Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate contract lifecycle management.

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    Supplier Pre-Screening

    Rapidly pre-screen suppliers using a library of continuously updated risk scores based on inherent/residual risk and standardized IT security assessment results.

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    Detailed Supplier Profiles

    Tap into 550,000+ sources of supplier intelligence to build a comprehensive supplier profile that includes ownership, financial performance, CPI scores, industry and business insights, and maps potentially risky 4th-party relationships.

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    Inherent Risk Scoring

    Use a simple assessment with clear scoring to track and quantify inherent risks, tier suppliers, and chart the right path for a complete assessment.

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    Comprehensive Assessment Library

    Leverage Prevalent's library of 125+ assessment templates aligned with IT controls frameworks and regulatory mandates, or build your own using a drag-and-drop wizard.

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    Supplier Reputation Monitoring

    Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, adverse media, conflicts of interest and more.

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    Financial & Investment Monitoring

    Tap into financial information from a network of millions of businesses across 160+ countries. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.

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    Global Sanctions Monitoring

    Simultaneously screen against the world’s most important sanctions lists (including OFAC, EU, UN, BOE, FBI, BIS, etc.), over 1,000 global enforcement lists, and court filings (such as the FDA, US HHS, UK FSA, SEC and more) to proactively identify prohibited business relationships.

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    Politically Exposed Persons (PEP) Screening

    Screen against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to instantly identify potential leadership risks.

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    Corruption Perception Index Scoring

    Corruption Perception Index (CPI) scores of company head office countries add more business context to vendor risk analysis by delivering insights into a vendor’s viability and ethics.

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    State-Owned Enterprise Screening

    Avoid conflicts of interest by checking companies against a proprietary list of government-owned and government-linked enterprises.

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    Central Risk Register

    Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.

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    Built-in Remediation Guidance

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

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    Compliance and Reporting

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

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    Document & Evidence Management

    Store and manage policy documents, evidence and more for dialog and attestation. Leverage built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm key criteria are addressed.

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    Relationship Mapping

    Identify relationships between your organization and third, fourth and Nth parties to discover dependencies and risks in your extended vendor ecosystem.

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    Performance & SLA Reporting

    Gain visibility into vendor contract status, contact information, risk and compliance status, performance metrics, and more via centralized dashboards, and leverage PowerBI integration for custom reporting.

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.

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Who Wins

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