Assess and continuously monitor your supply chain for ethical risks
As supply chains become increasingly global, organizations must ensure that their third parties’ business practices align with laws against bribery, corruption and ethical violations. The US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act are two notable examples that require organizations to provide regular disclosures of violations.
The problem is, most third-party risk management approaches only evaluate anti-bribery and corruption (ABAC) and ethical policies when a new supplier is onboarded, without considering the fact that ethical risks can surface at any time.
The Prevalent Third-Party Risk Management Platform includes specific ABAC and ethics assessments and features built-in integration with continuous reputational, compliance and corruption insights. As a result, you gain a closed-loop pre- and post-contract view of vendor ABAC practices.
Key Benefits
- Gain visibility into corruption risks – before and during the lifetime of the contract
- Automate assessments with ABAC and ethics questionnaires that are backed by validation from continuous, real-world risk monitoring
- Get ahead of potential business disruptions by leveraging continuous, repeatable supplier reputation intelligence
- Speed ABAC and ethics disclosure reporting with built-in templates
Key Features
Supplier Pre-Screening
Rapidly pre-screen vendors using a library of continuously updated risk scores based on inherent/residual risk, assessment results and real-time reputational monitoring.
Contract Lifecycle Management
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate the contract lifecycle, ensuring enforcement of ABAC measures.
Comprehensive Supplier Profile
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights and maps 4th-party relationships.
Inherent Risk Scoring
Use a simple assessment with clear scoring to track and quantify inherent risks and determine the right assessment approach.
ABAC & Ethics Risk Assessment
Leverage Prevalent’s built-in Anti-Bribery and Ethics assessments to determine adherence to policies and identify potential areas of concern. Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
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.
Financial & Investment Monitoring
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.
Adverse Media Screening
Avoid working with corrupt businesses and individuals by screening them against an extensive database of profiles linked to illicit activities. By consolidating intelligence from 30,000 global news sources, Prevalent enables fast and comprehensive screening to protect your company and its reputation.
Global Sanctions Monitoring
Simultaneously screen against the world’s most important sanctions lists (including OFAC, EU, UN, BOE, FBI, BIS, etc.), over 1,000 global enforcement lists, and court filings (such as the FDA, US HHS, UK FSA, SEC and more) to proactively identify prohibited business relationships.
Politically Exposed Persons (PEP) Screening
Screen against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to instantly identify potential leadership risks.
Corruption Perception Index Scoring
Corruption Perception Index (CPI) scores of company head office countries add more business context to vendor risk analysis by delivering insights into a vendor’s viability and ethics.
State-Owned Enterprise Screening
Avoid conflicts of interest by checking companies against a proprietary list of government-owned and government-linked enterprises.
Document & Evidence Management
Store and manage ABAC policy documents, evidence and more for dialog and attestation. Leverage built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm key criteria are addressed.
Relationship Mapping
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies risks in your extended vendor ecosystem.
Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to ABAC requirements.
Central Risk Register
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
Virtual Third-Party Risk Advisor
Leverage a conversational AI trained on billions of events and more than 20 years of experience to deliver expert risk management insights in the context of industry guidelines such as NIST, ISO, SOC 2 and others.
Built-in Remediation Guidance
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
Risk Reporting
Identify, alert and communicate exceptions to common behavior with built-in report templates.
Schedule a free, personalized solution demonstration to see if Mitratech Prevalent is a fit for you.
Who Wins
Procurement
Centrally manage vendors and monitor their performance against contractually established SLAs and KPIs using a customizable survey with built-in workflows.
IT Security
Get unparalleled insights into risk trends, status and outliers with the latest machine learning analytics, leveraging from the most risk intelligence sources available.
Risk Management
See which vendors pose the most risks and in what areas, helping to align your overall enterprise risk management strategy.
