Hero sourcing selection

Vendor Sourcing & Selection

Automate and add risk intelligence to vendor comparisons

Sourcing and selecting low-risk vendors can be complicated, especially when you rely on manual processes and lack information about their business practices, reputation, past data breaches, sanctions records, and financial histories.

Prevalent helps procurement teams reduce cost, complexity and risk exposure during vendor selection. Our RFx Essentials solution provides centralized distribution, comparison, and management of RFPs and RFIs. It also helps you get ahead of potential supplier risks with demographic, 4th-party, and ESG scores – plus optional business, reputational, and financial risk insights. As a result, you’re able to take an important first step toward tackling risk in the third-party lifecycle.

Key Benefits

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

  • Unify vendor comparison and grading with a central platform

  • Make informed procurement decisions with extensive business, reputational, data breach, and financial intelligence

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

Key Features

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    RFx Management

    Centralize the distribution, comparison, and management of RFPs and RFIs. Migrate the selected vendor to established contract workflows or third-party due diligence at the end of the RFx process.

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    Risk Profiling Snapshot

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

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    Operational Updates

    Access qualitative insights from over 550,000 public and private sources of operational information, including M&A activity, business news, management and leadership changes, competitive news, new offerings, operational updates, and more.

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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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    Adverse Media Screening

    View consolidated adverse media and negative news coverage sourced from 30,000 global news sources.

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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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    Financial Insights

    Tap into financial information from a global network of millions of businesses across 160+ countries. Access 5 years of financial performance data, including turnover, profit and loss, shareholder funds, credit ratings, payment history, bankruptcies, investments, and more. Screen new vendors and monitor existing vendors for informed sourcing decisions.

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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.

 Quote pharma healthcare

We rely on Prevalent’s expertise to help us create vendor short lists. They are providing tons of intelligence on the risks of vendors and suppliers during the RFP process, and helping us create a short list full of secure and trustworthy companies.

— VP, Large Pharmaceuticals Company

Who Wins

  • Procurement

    Speed purchasing cycles and improve the consistency and fairness of reviews by automating the evaluation of vendor solutions.

    > More procurement and sourcing benefits

  • IT Security

    Gain an early view of vendor risks to accurately scope further due diligence and better prepare for future audits.

    > More IT security benefits

  • Risk Management

    Reduce the risk of a business disruption by ensuring the viability of both the vendor and their solutions.

    > More risk management benefits

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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