Assess vendor and supplier business resilience and continuity
Data breaches, cybersecurity events, pandemics, natural disasters, resource constraints, and other challenges can make it difficult for third-party vendors and suppliers to meet contractual obligations. That’s why it is essential to proactively and continually assess vendor and supplier business continuity and resilience plans.
Too many organizations rely on spreadsheets and manual processes to assess third-party business resilience practices. This approach makes document management, risk scoring, and remediation overly complex and time consuming.
The Prevalent Third-Party Risk Management Platform automates the assessment, continuous monitoring, analysis, and remediation of third-party business resilience and continuity – while automatically mapping results to NIST, ISO, and other control frameworks. This proactive approach enables our customers to minimize the impact of third-party disruptions and stay on top of compliance requirements.
Key Benefits
- Automate due diligence and evidence collection with a centralized, workflow-driven platform
- Identify new and emerging vendor and supplier risks with continuous cyber, business, reputational, and financial monitoring
- Benchmark vendor business resilience procedures against industry-standard best practices with automatic control framework mapping and reporting
- Streamline risk reduction and mitigation with built-in remediation guidance
Key Features
Vendor Pre-Screening
Rapidly pre-screen vendors using a library of continuously updated risk scores based on inherent/residual risk and standardized IT security assessment results.
Automated Onboarding & Offboarding
Import vendors via a spreadsheet template or through an API connection to an existing solution, eliminating error-prone, manual processes.
Centralized Intake
Populate key supplier details with a centralized and customizable intake form and associated workflow. This is available to everyone via email invitation, without requiring any training or solution expertise.
Comprehensive Supplier Profile
Tap into 550,000+ sources of vendor intelligence to build a comprehensive vendor profile that includes industry and business insights and maps potentially risky 4th-party relationships.
Inherent Risk Scoring
Use a simple assessment with clear scoring to track and quantify inherent risks, tier vendors, and chart the right path for a complete information security assessment.
Business Resilience Assessment
Leverage Prevalent’s built-in business resilience assessment questionnaire to understand supplier incident response, disaster recovery and communications plans.
Continuous Cybersecurity Monitoring
Automate the monitoring of criminal forums; onion pages; dark web special access forums; threat feeds; and paste sites for leaked credentials — as well as several security communities, code repositories, and vulnerability databases.
Data Breach Event Notification Monitoring
Access a database containing 10+ years of data breach history for thousands of companies around the world. Includes types and quantities of stolen data; compliance and regulatory issues; and real-time vendor data breach notifications.
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 & Credit 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.
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.
Automated Risk Review & Response
Leverage a library of workflow rules to trigger automated playbooks that enable you to review and approve assessment responses to automatically register risks, or reject responses and request additional input.
Machine Learning Analytics
Reveal risk trends, status and exceptions to common behavior with embedded machine learning insights. Identify outliers across assessments, tasks, risks, and other factors warranting further investigation or score changes.
Compliance & Risk Reporting
Visualize and address compliance requirements by automatically mapping assessment results to regulatory requirements and IT controls frameworks.
Built-in Remediation Guidance
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
Automated Incident Response
Rapidly identify and mitigate the impact of vendor breaches by centrally managing vendors, conducting event assessments, scoring identified risks, and accessing remediation guidance.
Document & Evidence Management
Store and manage 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 and risks in your extended vendor ecosystem.
Schedule a free, personalized solution demonstration to see if Mitratech Prevalent is a fit for you.
Who Wins
Procurement
Speed purchasing cycles and improve the consistency and fairness of reviews by automating the evaluation of vendor solutions.
IT Security
Gain an early view of vendor risks to accurately scope further due diligence and better prepare for future audits.
Risk Management
Reduce the risk of a business disruption by ensuring the viability of both the vendor and their solutions.
