Analyst Insight: The Gartner® Market Guide for IT Vendor Risk Management Solutions

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Vendor Inherent Risk Scoring

Improve risk visibility to prioritize vendors

Vendors come in all shapes and sizes. That’s why right-sizing your due diligence activities by profiling, tiering and categorizing vendors can be the secret to a sustainable TPRM program. And that starts with assessing inherent risk, which is a vendor’s risk level before accounting for any specific controls required by your organization

Prevalent builds comprehensive vendor profiles that include inherent risk scores based on the likelihood and potential impact of security, compliance and operational incidents. Our data-driven assessment process clearly scores and categorizes vendors, delivering prescriptive recommendations regarding the level and scope of due diligence for each type of vendor.

Key Benefits

  • Take a strategic, structured approach to assessment planning by tapping into inherent risk insights from across your third-party portfolio

  • Right-size due diligence activities by prioritizing and categorizing vendors according to their potential risk to your organization

  • Meet the vendor management needs of IT, security, procurement, legal and other departments with comprehensive risk profiles

  • Get the intelligence you need to identify potential cyber, financial, reputational and inherent business risks before contracting with suppliers

Key Features

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    Inherent Risk Scoring

    Use a simple assessment with clear scoring to capture, track and quantify inherent risks for all third parties.

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    Profiling & Tiering

    Automatically tier suppliers according to their inherent risk scores, set appropriate levels of diligence, and determine the scope of ongoing assessments.

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    Categorize vendors with rule-based logic based on a range of data interaction, financial, regulatory and reputational considerations.

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    Community Scoring

    Understand potential exposure from new vendors based on risks tagged to other vendors in similar categories or tiers.

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    Risk Scoring

    Quickly gauge third-party risk levels with consolidated views of risk ratings, counts, scores and flagged responses for each vendor.

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    Automated Response Actions

    Leverage a library of workflow rules to trigger automated playbooks that enable you to appropriately assess and monitor vendors based on their relationship and potential impact to the business.

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    Machine Learning Analytics

    Reveal risk trends, status and exceptions to common behavior with embedded machine learning insights. Identify outliers across assessments, tasks, risks, and other factors warranting further investigation or score changes.

Jump Start Your Inherent Risk Scoring

Jump Start Discover enables you to centrally manage vendors and calculate their inherent risk. With services included, Jump Start enables you to launch your TPRM program in about 30 days!

Learn More About Jump Start
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Who Wins

  • Procurement

    Gain an accurate picture of a vendor’s inherent risk to determine what level of further due diligence is required.

    > More procurement and sourcing benefits

  • IT Security

    Tier vendors according to the risk they pose to your business by scoring them across cyber, business, financial and other categories.

    > More IT security benefits

  • Risk Management

    Understand risks from potential vendor breaches, compliance violations, and supply chain disruptions with continuously updated threat intelligence and security ratings.

    > More risk management benefits

 Case study insurance

Prevalent allows us to manage third-party risk in an organized way.

— Medium Enterprise Insurance Company

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