Improve risk visibility to prioritize vendors
Different types of vendors bring different levels of risk. That’s why right-sizing your vendor due diligence through tiering and categorization can be the secret to a sustainable TPRM program.
Prevalent 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.
Build comprehensive vendor risk profiles that meet the needs of multiple internal teams
Inform risk-based decisions to prioritize remediation and verify compliance
Proactively evaluate suppliers to identify financial, reputational and inherent risk across the portfolio
Validate the presence of compensating controls to accelerate risk response
Use a simple assessment with clear scoring to track and quantify inherent risks for all suppliers.
Tier suppliers according to their inherent risk scores, set appropriate levels of diligence, and determine the scope of ongoing assessments.
Categorize vendors with rule-based logic based on a range of data interaction, financial, regulatory and reputational considerations.
Understand potential exposure from new vendors based on risks tagged to other vendors in similar categories or tiers.
Quickly gauge third-party risk levels with consolidated views of risk ratings, counts, scores, and flagged responses for each vendor.
Keep vendor risk scores updated with a continuous threat intelligence feed. Combine information on breaches, regulatory violations and other business risks with cyber risk data from threat feeds, paste sites, forums and dark web pages using Prevalent Vendor Threat Monitor or BitSight.
Reveal risk trends, status and exceptions to common behavior with embedded machine learning insights. Quickly identify outliers across assessments, tasks, risks, and other factors warranting further investigation or score changes.
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.
Prevalent allows us to manage third-party risk in an organized way.
— Medium Enterprise Insurance Company
Gain an accurate picture of a vendor’s inherent risk to determine what level of further due diligence is required.
Enable accurate tiering according to the risk a vendor brings to the business by scoring vendors on multiple dimensions, including cyber, business, financial and more.
Stay on top of risks from potential vendor breaches, compliance violations, and supply chain disruptions by leveraging continuously updated threat intelligence and security ratings.
See why Prevalent is named a Leader among 23 IT VRM providers
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