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

Hero reporting management

Vendor SLA & Performance Management

Centrally monitor, manage and report on vendor performance

Effectively reducing vendor risk requires an understanding of how vendors are performing against expectations. However, traditional vendor risk management products are unable to deliver the visibility necessary to manage and track performance across the vendor lifecycle.

Prevalent 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.

Key Benefits

  • Determine whether vendors are meeting SLAs, applying remediations, and adhering to compliance mandates

  • Get clear reporting and analysis for better-informed negotiations, contract updates and renewals

  • Centralize security, vendor performance, SLA monitoring, and compliance reporting across multiple teams through a single reporting and analytics dashboard

  • Reduce risks from gaps in vendor oversight by automating contract and performance assessments

  • Spot potential and actual disruptions with proactive supplier performance and SLA monitoring

  • Speed reporting on regulatory, legal and industry compliance with templates tailored to multiple internal stakeholders

Key Features

  • Icon contract flexible license

    Contract Lifecycle Management

    Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate the contract lifecycle – including performance and SLA monitoring.

  • Icon form checkboxes gold

    Contract Assessment

    Dedicated and custom contract assessment questionnaires enable comprehensive reviews by identifying potential breaches of contract and other risks.

  • Icon survey 2 gold

    Custom Performance Surveys

    Customizable surveys make it easy to gather and analyze necessary performance and contract data in a single risk register.

  • Icon document management file cabinet gold

    Document Management

    Collaborate on documents and certifications, such as NDAs, SLAs, SOWs and contracts, with built-in NLP and ML-based automated document analysis, version control, task assignment and auto-review cadences. Manage all documents throughout the vendor lifecycle in centralized vendor profiles.

  • Icon performance gold

    Performance & SLA Reporting

    Gain visibility into vendor contract status, contact information, risk and compliance status, performance metrics, and more via centralized dashboards, and leverage PowerBI integration for custom reporting.

  • Icon risk score gold

    Risk Scoring & Analysis

    Quickly gauge the health of each of your vendors with consolidated views of risk ratings, counts, scores, and flagged responses.

  • Icon news newspaper

    Business Risk Event Monitoring

    Leverage Prevalent's business and financial monitoring service to flag potential risks related to financial disclosures, legal actions, compliance issues, data breaches and other events.

  • Icon analyze flag gold

    Event Reporting

    Enable vendors to submit proactive event assessments – or issue assessments related to data breaches, notifications and other events – and dynamically adjust vendor risk scores based on the results.

  • Icon stakeholder report

    Risk Reporting

    Identify, alert and communicate exceptions to common behavior with built-in report templates.

  • Icon compliance gold

    Compliance Reporting

    Visualize and address compliance requirements by automatically mapping assessment results to regulatory and industry frameworks.

  • Icon dashboard gold

    KPI Reporting

    Track resolution of issues throughout the remediation process to show risk reduction progress over time and report against KPIs.

 Case study finance

We have risk reporting on time when we need to report to the authorities. Consistent reporting metrics is another key benefit.

— S&P 500 Financial Services Company

Who Wins

  • Procurement

    Centrally manage vendors and monitor their performance against contractually established SLAs and KPIs using a customizable survey with built-in workflows.

    > More procurement and sourcing benefits

  • IT Security

    Get unparalleled insights into risk trends, status and outliers with the latest machine learning analytics, leveraging from the most risk intelligence sources available.

    > More IT security benefits

  • Risk Management

    See which vendors pose the most risks and in what areas, helping to align your overall enterprise risk management strategy.

    > More risk management benefits

  • Ready for a demo?
  • Schedule a free personalized solution demonstration to see if Prevalent is a fit for you.
  • Request a Demo