Who Benefits from Prevalent TPRM Solutions

Narrator: Organizations today are gaining a more holistic view of vendor and supplier risk by expanding their TPRM initiatives beyond information security, breaking down internal silos and involving multiple teams across the enterprise. Narrator: Who benefits from using Prevalent?. Narrator: Security and IT teams leverage the Prevalent platform to proactively identify third-party cybersecurity exposures while gaining remediation guidance to protect their organizations. Narrator: Prevalent accelerates vendor risk evaluations by replacing spreadsheet-driven processes with automated assessments that free security and IT experts to focus on actually reducing risk. Narrator: This is backed by continuous cyber risk monitoring capabilities that enable them to close visibility gaps, validate vendor reported controls, and proactively remediate exposures. Narrator: All vendor risk data is analyzed with machine learning to enable better decision-making with insights into risk trends, security status, and risk events. Narrator: Risk management teams use Prevalent to get ahead of business disruptions by gaining a 360-degree view of risk based on cyber, business, financial, and reputational intelligence. Narrator: This is driven by the automated collection and analysis of vendor surveys combined with continuous monitoring for news exposures and incidents signaling emerging vendor risks. Narrator: Prevalent’s risk scoring model ensures consistent evaluations throughout the vendor life cycle and its built-in templates simplify reporting for various stakeholders across the organization. Narrator: In addition, risk management professionals are able to integrate Prevalent with their GRC platforms to unify third-party intelligence with broader risk management initiatives. Narrator: Prevalent enables data privacy teams to protect data and meet regulatory requirements by automating data discovery, privacy impact assessments, remediation, and regulatory reporting. Narrator: With Prevalent, privacy managers can validate privacy controls and streamline compliance by identifying which third parties have access to PII, PHI, and other restricted data. Narrator: They also have access to powerful relationship mapping capabilities to reveal where sensitive data is transferred between the organization and its vendors and suppliers. Narrator: With Prevalent, procurement and sourcing teams have a centralized solution for automating vendor selection processes, streamlining the contract life cycle, and monitoring performance. Narrator: …to inform renewal decisions. Narrator: The Prevalent platform accelerates purchasing and saves time throughout the procure-to-pay life cycle by streamlining onboarding, due diligence, and offboarding. Narrator: At the same time, it delivers valuable insights on prospective suppliers, including security and privacy policies, financial performance, and ESG and business resilience practices. Narrator: Prevalent provides internal audit and governance teams with a single platform to collect vendor risk information, quantify risks, and recommend remediations. Narrator: They have access to regularly updated risk assessment questionnaires and guidance, ensuring that third-party assessments align with current regulatory requirements. Narrator: The platform also automatically maps assessment results to dozens of government regulations and industry frameworks for more consistent, repeatable, and streamlined reporting. Narrator: Legal teams use Prevalent to automate the negotiation, review, and management of vendor contracts by leveraging the platform’s centralized discussion, retention, and version control capabilities. Narrator: Eliminating manual processes improves the contracting experience, encourages business owner participation, and unifies internal vendor risk and contract management team. Narrator: Prevalent takes the pain out of third-party risk management and helps eliminate risk exposures by increasing efficiency and collaboration across the enterprise at every stage of the vendor life cycle. Narrator: For more tips on how to engage key stakeholders as you build out your TPRM program, visit prevalent.net today.