RFP Toolkit for Third-Party Risk Management Solutions: Free Customizable Template and Scoring Sheet!

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Vendor Sourcing & Selection

Access a central repository of risk insights for thousands of potential vendors

Sourcing and selecting low-risk vendors can be complicated, especially when you lack information about their cybersecurity practices, reputation and sanctions records, and financial histories.

Prevalent helps procurement teams reduce cost, complexity and risk exposure when sourcing vendors. Our Vendor Risk Intelligence Networks provide instant access to thousands of completed, industry-standard vendor risk profiles offering real-time security, reputational and financial information. With these insights in hand, procurement teams can contract with confidence by issuing automated qualification assessments to grade selected vendors.

Key Benefits

  • Accelerate pre-contract due diligence with instant access to hundreds of thousands of vendor risk profiles

  • Collaborate across internal departments to speed third-party procurement processes

  • Unify vendor comparison and grading with a central platform

  • Find lower-risk alternatives and negotiate better contracts

  • Make informed procurement decisions with extensive cybersecurity, reputational, and financial intelligence

  • Monitor supplier performance and risks, and make more informed renewal decisions

Key Features

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    Vendor Pre-Screening

    Rapidly pre-screen vendors using a library of continuously updated risk scores based on inherent/residual risk, assessment results and real-time monitoring.

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    Secure Third-Party Sourcing

    Tap into the Prevalent Vendor Intelligence Network for hundreds of thousands of completed assessments and profiles with cyber, business and financial risk scores.

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    Comprehensive Supplier Evaluation

    Qualify suppliers for the next stage of evaluation with insights from more than 500,000 sources of cyber, business and financial risk information.

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    Auto-Grading for Vendor Selection

    Consistently question all vendors using an automated qualification assessment, and generate grades and ratings based on their responses.

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    Breach Event Database

    Access a database containing 10+ years of data breach history for thousands of companies around the world. Includes types and quantities of stolen data, compliance violations and regulatory issues, providing a real-time view of potential vendor risks.

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    Global Sanctions Lists

    Screen potential vendors against sanctions lists (e.g., OFAC, EU, UN, BOE, FBI, BIS, etc.), plus over 1,000 global enforcement lists and court filings (e.g., FDA, US HHS, UK FSA, SEC, etc.), to proactively identify prohibited relationships.

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    State-Owned Enterprise Screening

    Check companies against a proprietary list of government-owned and government-linked enterprises to avoid conflicts of interest.

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    Politically Exposed Persons (PEP) Screening

    Screening against a global PEP database with access to over 1.8 million politically exposed person profiles, including their families and associates.

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Security risk management for subcontractors has improved significantly. Prevalent has reduced manual analysis and improved visibility.

— Non-Profit Organization

Who Wins

  • Procurement

    Make faster, more informed supplier evaluation and selection decisions with instant access to hundreds of thousands of vendor risk profiles containing cybersecurity, reputational, and financial information.

  • IT Security

    Provide procurement with a list of suitable and secure alternatives for selection by leveraging a library of completed standardized vendor risk assessments.

  • Risk Management

    Quickly determine compliance status and head-off problems prior to vendor selection with easy-to-use reporting against dozens of regulations.

The Procurement Risk Playbook

This 10-page paper shares actionable steps for coordinating your team to reduce risk throughout every stage of the third-party lifecycle.

Read Now
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