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.
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
Import vendors via a spreadsheet template or through an API connection to an existing procurement solution, eliminating error-prone, manual processes.
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.
Download your vendor repository, make changes, add context, and re-import profiles for speed and consistency.
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.
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate contract lifecycle management.
An extensible automation and rules engine automatically suggests triage actions based on vendor attributes to inform profiling and tiering decisions.
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.
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
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.
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.
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.
Minimize Vendor Risk from the Start
Use these best practices and checklist template to build a vendor onboarding process designed to avoid third-party business disruptions.
Vendor risk doesn’t suddenly appear once goods and services are being exchanged for payment; it’s there...