New Report: The 2022 Gartner® Market Guide for IT Vendor Risk Management Solutions

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Vendor Intake & Onboarding

Centralize vendor onboarding and management

Siloes can be a problem for many organizations – especially those where line-of-business owners manage vendors, but procurement teams own key vendor information and processes. These siloes make it difficult to identify and manage third-party risks, which can open the door to data breaches and other business disruptions.

With 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.

Key Benefits

  • Accelerate vendor onboarding and offboarding with seamless vendor management solution integrations

  • Simplify supplier management with offline updates and role-based access for all employees

  • Automate cumbersome processes to easily maintain vendor profiles

  • Reduce risk by gaining demographic, 4th-party, ESG, business, reputational, data breach and financial insights prior to onboarding a new vendor

Key Features

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    Automated Onboarding & Offboarding

    Import vendors via a spreadsheet template or through an API connection to an existing procurement solution, eliminating error-prone, manual processes.

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    Risk Profiling Snapshot

    Gain insight into a vendor’s demographic information, 4th-party technologies, ESG scores, recent business and reputational insights, data breach history, and recent financial performance for risk-based vendor selection decisions.

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    Offline Profile Updates

    Download your vendor repository, make changes, add context, and re-import profiles for speed and consistency.

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    Centralized Intake & Process Enforcement

    Populate key supplier details with a centralized and customizable intake form and associated workflow. This is available to everyone via email invitation, without requiring any training or solution expertise.

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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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    Workflow Rules

    An extensible automation and rules engine automatically suggests triage actions based on vendor attributes to inform profiling and tiering decisions.

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    Role-Based Access

    Invite other employees to contribute to vendor onboarding initiatives, controlling who can onboard different categories of third parties and defining who can manage and report on activities.

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

Who Wins

  • Procurement

    Speed vendor intake and onboarding with automated rules for building and maintaining accurate and comprehensive vendor profiles that anyone in the organization can contribute to.

    > More procurement and sourcing benefits

  • IT Security

    Make the process of working with vendors much easier for everyone involved by taking advantage of built-in playbooks and workflows that automate vendor response actions.

    > More IT security benefits

  • Risk Management

    Gain risk visibility into more than just cybersecurity risks. Business, reputational, financial, ESG and other types of risk intelligence help ensure that vendors won’t negatively impact the bottom line.

    > More risk management benefits

Gain Critical Risk Insights at Vendor Onboarding

Prevalent Platform Essentials is a SaaS solution for centralized onboarding, profiling, tiering and scoring of inherent risks across all third parties.

Read the Data Sheet
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