Prevalent Vendor Risk Management Platform

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Additional Info

Company (that provides the nominated product / solution / service)Prevalent
Websitehttps://www.prevalent.net/
Company size (employees)50 to 99
Type of solutionCloud/SaaS

In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:

• The Only Comprehensive Solution for Managing Vendor Risk
Prevalent's Vendor Risk Management platform is the industry's only purpose-built, unified platform that integrates a powerful combination of automated assessments, continuous monitoring, and evidence sharing for collaboration between enterprises and vendors. It is the only solution available today that brings all this data together in a single view to make better business decisions. Prevalent is also the only solution provider to be recognized by both Forrester and Gartner as leaders in this space.

• The Only Solution to Offer Insight into Both Cyber and Business Risk
Prevalent Vendor Threat Monitor offers a continuous view of potential vendor risks. It goes beyond the technical monitoring of cyber threats and network health to provide a strategic view of the business drivers of information security risk. Prevalent has the only solution that offers insight into an organization’s vendor ecosystem across the critical areas of data, brand, financial, operational, and regulatory – all mandatory to satisfy regulatory obligations.

• The First Company to Establish Evidence-Sharing Networks
Prevalent’s revolutionary vendor networks for the healthcare and legal industries were the first to take a collaborative approach to risk management. These networks help sectors and organizations with common vendors and security issues work together to share information and build stronger risk management programs. Prevalent’s evidence sharing portal offers enterprises and vendors an economical and collaborative platform to “collect once and share with many” the critical information needed to reduce risk.

Brief Overview

Prevalent’s platform provides organizations the ability to understand the full scope of vendor risk with a view across key data risk elements such as assessment due-diligence, cyber threats, and business risk intelligence.

Its customers hail from Fortune 500 and Global 2000 companies, including top healthcare, financial services, legal, and consumer products organizations worldwide.

Prevalent’s comprehensive solution reduces the cost, risk, and complexity that comes with vendor management, specifically by:

• Reducing Cost with Automated, Scalable Vendor Risk Assessments
Manual data-gathering and sharing efforts, coupled with individual emails and spreadsheets are not scalable, and give rise to inefficient, error-prone processes. Prevalent dramatically reduces data collection timeframes, offering security, privacy, and risk management professionals a platform to manage and automate the vendor risk assessment process. It employs both standard and custom questionnaires to help collect evidence and provides key features such as vendor tiering, risk scoring flexibility, and built-in workflows.

• Reducing Risk with Continuous Threat Monitoring
Prevalent’s platform offers continuous monitoring software to fill the gap between assessments, providing the industry’s only holistic view of potential risks across five key areas: Data, Brand, Financial, Operational and Regulatory. Events such as lawsuits and phishing attacks are continuously captured, scored and delivered to users via dashboards and email notifications. Prevalent uses a self-service agent to remotely inspect a vendor’s ability to detect and isolate cyber attackers behind the firewall.

• Reducing Complexity with Immediate Access to Shared Data
Prevalent’s Vendor Evidence Sharing Networks are repositories of completed, validated vendor questionnaires and supporting evidence available to organizations without the tedious time and resource consuming process of collecting data from scratch. Prevalent offers both horizontal and vertical networks for speed of assessment and collaboration among the vendor community.