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Third-Party Risk Management (TPRM)
The only purpose-built, unified platform for third-party risk management
With cyber attacks originating from third parties on the rise, and privacy concerns driving new regulations, it’s critical to ensure that your suppliers can securely manage sensitive systems and data. However, manually collecting, maintaining and analyzing risk status is inefficient, error-prone and costly. Prevalent simplifies and speeds compliance and risk reduction with our unified, automated Third-Party Risk Management (TPRM) platform.
The Prevalent TPRM platform is a cloud-based solution that combines automated, standardized vendor risk assessment with vendor risk monitoring, assessment workflow, and remediation management across the entire vendor life cycle. The platform is complemented by vendor intelligence networks offering on-demand access to completed, standardized risk reports on thousands of companies. Our solutions are backed by expert professional services and managed services to help you optimize and mature your TPRM program.
Get to Know the Prevalent Platform
See how the Prevalent Third-Party Risk Management platform can help you gain unmatched visibility into vendor, supplier and partner risk with this 2-minute video introduction.
3rd-Party Risk Management Benefits
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Increases visibility into cybersecurity risks and business exposures from vendors, suppliers and other third parties
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Unifies and centralizes inside-out vendor risk assessment and outside-in vendor risk monitoring
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Streamlines vendor assessment, compliance, due diligence and remediation initiatives
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Informs risk-based decisions to prioritize remediation and verify compliance
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Provides role-based reports for monitoring compliance and third-party risk mitigation
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Integrates with other best-of-breed risk and security solutions via an extensible vendor risk management framework
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Strengthens vendor relationships by providing a collaborative platform for identifying and mitigating shared risks
We are now able to properly conduct risk assessments, both internal and external, leveraging this fantastic platform. It gives us a level of confidence previously lacking in vendor onboarding and contracting.
— VP, Technology & Security, First Protocol Inc., d/b/a FIRST
Address the Entire Third-Party Risk Lifecycle
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Sourcing & Selection
Learn more about sourcing and selectionPrevalent helps procurement teams reduce cost, complexity and risk exposure when sourcing vendors. Our Vendor Risk Intelligence Networks provide instant access to thousands of completed, industry-standard vendor risk profiles offering real-time security, reputational and financial information. With these insights in hand, procurement teams can contract with confidence by issuing automated qualification assessments to grade selected vendors.
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Intake & Onboarding
Learn more about intake and onboardingWith the Prevalent Third-Party Risk Management Platform, procurement, security and risk management teams have a single source of supplier risk profiles, intake processes, and onboarding and offboarding workflows. The result is centralized vendor management and reduced third-party risk.
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Prioritization & Scoring
Learn more about prioritization and scoringPrevalent builds comprehensive vendor risk profiles that include inherent risk scores to indicate the likelihood and potential impact of security and compliance risks. Our workflow-driven assessment process clearly scores and categorizes vendors, delivering prescriptive guidance on the activities and level of due diligence required for each of your third parties.
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Assessment & Monitoring
Learn more about assessment and monitoringPrevalent streamlines third-party risk management by evaluating vendors against security, compliance, performance, contractual, business continuity, financial, reputational, ethics, and diversity requirements – and validating the results with continuous cyber security, business and financial insights for 360-degree risk identification and mitigation.
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Reporting & Management
Learn more about reporting and managementPrevalent bridges the gap between procurement, risk and vendor management teams by centrally measuring program effectiveness and analyzing SLAs. This enables you to determine compliance, verify adherence to contract terms, and strengthen vendor negotiations.
Allianz Achieves 50% Time Savings with Prevalent
Allianz saved 50% of their time performing assessments and onboarding vendors, enabling them to meet their PRA and FCA compliance and risk management objectives ahead of schedule.
Key Capabilities for Third-Party Risk Management
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A Proven TPRM Maturity Process
Speed time to value and mature your TPRM program with our expert planning and advisory services. We’ll help you prioritize your vendors, define assessment strategies, and accommodate compliance requirements.
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Automated Assessments
Measure internal controls and gain meaningful risk data with a library of 50+ assessments covering SIG Core, SIG Lite, CCPA, GDPR, ISO27001, HIPAA, PCI-DSS, and other regulations – or build custom assessments to meet specific needs.
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Continuous Monitoring
Validate vendor controls by correlating assessments with monitoring for cyber threats (e.g., website vulnerabilities, leaked credentials on the dark web, etc.) and potential business threats (e.g., brand, financial, operational, regulatory, legal, etc.) for a more complete risk score.
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Shared Vendor Networks
Scale your TPRM program with shared networks of completed vendor risk reports. The Prevalent Exchange, Legal Vendor Network and Healthcare Vendor Network enable you to quickly check risk status and augment your own risk assessment initiatives.
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Prioritized Remediation
Streamline remediation with built-in workflows, document management and audit trails. Categorize vendors and prioritize communications based on risk levels and business criticality.
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Stakeholder-Specific Reporting
Enable enterprise-wide vendor risk and compliance awareness with tailored stakeholder reports. Provide executives with broad visibility for strategic decision making and board reporting, while enabling assessors to drill-down on specific risks and control failures.
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APIs and Connectors
Share data between the Prevalent's extensible TPRM framework and other best-of-breed business, risk and security solutions to ensure your program doesn’t operate in a silo.
A Unified Third-Party Risk Solution
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Vendor Assessment
Measure compliance with data security and privacy requirements via automated vendor risk assessment, review, analysis, remediation and reporting.
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Vendor Monitoring
Gain an outside-in view of risk with continuous vendor risk monitoring, notification of critical issues, and remediation guidance.
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Vendor Networks
Access vendor risk networks of completed, standardized assessments to quickly check risk scores and augment 1:1 assessment activities.
How mature is your third-party risk management program?
Answer 10 multiple-choice questions to get an instant "gut check" of your third-party risk readiness!
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Blog PostWhat Is Third-Party Risk Management: A Definitive Guide
Third-Party Risk Management (TPRM) has advanced from being an annual checklist exercise to a critical daily...
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Blog Post
Third-Party Risk Management Frameworks: An Overview
There is no single approach to TPRM, but some commonly used frameworks serve as a solid...
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White Paper
The 2021 Third-Party Risk Management Study
Are you ready to navigate the dangerous waters of third-party risk management? Use this report to...
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Ready to get started?
- Schedule a personalized solution demonstration to see if Prevalent is a fit for you.
- Request a Demo