Assess and mitigate supply chain partner business resilience risks
Supply chain resilience assessments enable you to understand how prepared your suppliers are to handle disruptions that could negatively impact your business. This includes evaluations of their incident response, business continuity, and disaster recovery plans. However, assessing supply chain resilience can be complex and time-consuming – especially if you’re relying on spreadsheets to manage the process.
The Prevalent Third-Party Risk Management Platform includes unified capabilities for assessing, analyzing and addressing weaknesses in supplier business resilience plans. This enables you to proactively work with your supplier community to prepare for pandemics, environmental disasters, and other potential crises.
Key Benefits
- Centralize visibility into supply chain risk management, including business continuity plans and related risks
- Save critical time in a crisis by automating supplier assessment collection, analysis and risk remediation
- Meet auditor and board requirements for business resilience planning
- Make it easy for your team to tackle the most critical issues first with clear risk scores for each supplier
- Be better prepared for pandemics, environmental disasters, and other supply chain disruptions with centralized visibility into your entire supplier base
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 vendors comply with business resilience and continuity requirements.
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 scope of subsequent supplier risk assessments.
Business Resilience Assessment
Leverage Prevalent’s built-in business resilience assessment questionnaire to understand supplier incident response, disaster recovery and communications plans. Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
Central Risk Register
Normalize, correlate and analyze results from multiple assessments for unified supply chain risk 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.
Document & Evidence Management
Store and manage supply chain partner business continuity, disaster recovery and communications plan 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 any regulation or framework. Demonstrate to auditors and the board that you have a plan to address vendor supply chain disruptions.
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.
