Intake and Onboarding

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.

Inherent Risk Scoring

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.

Third-Party Risk Management

Unify vendor and supplier risk management and compliance throughout the 3rd-party lifecycle.

With cyber-attacks increasingly traced to third parties, privacy concerns driving new regulations, and disruptions impacting global supply chains, it’s critical to ensure that your vendors and suppliers have the controls and processes in place to protect your organization.

However, manually collecting, maintaining and analyzing data across an ever-expanding risk landscape is inefficient, error-prone and costly.

Prevalent simplifies and speeds risk reduction and compliance with our unified, automated Third-Party Risk Management (TPRM) platform. The Prevalent TPRM platform is a SaaS solution that combines automated, standardized risk assessment with continuous risk monitoring, assessment workflow, and remediation management across the entire third-party lifecycle.

The platform is complemented by vendor intelligence networks offering on-demand access to complete, standardized risk reports on thousands of companies. Our solutions are backed by expert professional services and managed services to help you optimize and mature your TPRM program.

IT Vendor Risk Management

Identify, assess, analyse, remediate, and continuously monitor vendor information security, operational, and data privacy risks

Major network, data and privacy breaches are traced to IT solution vendors and service providers on an almost daily basis. However, many organizations still rely on manual, spreadsheet-based methods for their IT vendor risk assessment and compliance initiatives. This leaves critical gaps in risk visibility, complicates reporting, and increases costs.

The Prevalent Third-Party Risk Management Platform enables organizations to stay ahead of information security and cybersecurity risks. Our customers centralize and automate IT vendor risk assessment, continuous monitoring, analysis and remediation – while efficiently mapping the results to common IT security control frameworks and compliance requirements.

Backed by expert managed services and a vendor intelligence network, the Prevalent platform delivers the automation, visibility, and scale required to effectively reduce risk and meet compliance requirements at every stage of the IT vendor lifecycle.

Supplier Risk Management

Assess, analyse, track and continuously monitor risks across the supplier lifecycle

A supplier’s ability to fulfill orders and deliver services can be disrupted by everything from cybersecurity failures and regulatory violations to geopolitical events and health crises. However, many organizations attempt to manage supplier risks using a complicated web of disparate tools. This approach leaves blind spots in risk visibility, slows onboarding, and complicates ongoing supplier risk management (SRM) activities.

The Prevalent Third-Party Risk Management Platform enables procurement, IT and supplier management teams to streamline risk assessments and continuously monitor for new risks at every stage of the supplier relationship. The solution centralizes, correlates and analyzes supplier data on several topics, including:

• Cybersecurity
• Financial and reputational health
• Corporate social responsibility, like a supplier’s environmental, social and governance (ESG) findings or modern slavery statements
• Performance and SLAs
• Compliance with regulatory requirements such as anti-bribery and corruption (ABAC) regulations
• Presence on government watch lists such as OFAC

As a result, your organization benefits from accelerated supplier onboarding, increased efficiency, and a more secure supply chain.

Compliance

Meet third-party compliance mandates and regulatory guidelines with speed, efficiency and scale

In light of growing threats, many regulations and frameworks now require organizations to assess and monitor suppliers and service providers for potential risks.

As businesses continue to diversify and globalize, organizations looking to focus squarely on core business functions are turning to third parties to fulfill specialized services, such as web hosting, payments processing and cloud services.

In the face of growing cyber threats in this extended ecosystem, many organizations are now required to develop effective third-party risk management programs to meet regulatory compliance and deepen IT security controls.

Only Prevalent enables you to meet compliance mandates for both assessing and monitoring the risk of your organization’s vendors, suppliers and other third parties using a single, unified platform.

Talk to one of our experts and discover the benefits of Halodata for your company.