Centralize vendor onboarding and management
Siloes can be a problem for many organizations – especially those where line-of-business owners manage vendors, but procurement teams own key vendor information and processes. These siloes make it difficult to identify and manage third-party risks, which can open the door to data breaches and other business disruptions.
With the Prevalent Third-Party Risk Management Platform, procurement, security and risk management teams have a single source of supplier risk profiles, intake processes, and onboarding and offboarding workflows. The result is centralized vendor management and reduced third-party risk.
Key Benefits
- Accelerate vendor onboarding and offboarding with seamless vendor management solution integrations
- Automate cumbersome processes to easily maintain vendor profiles
- Simplify supplier management with offline updates and role-based access for all employees
- Reduce risk by gaining demographic, 4th-party, ESG, business, reputational, data breach and financial insights prior to onboarding a new vendor
Key Features
Automated Onboarding & Offboarding
Import vendors via a spreadsheet template or through an API connection to an existing procurement solution, eliminating error-prone, manual processes.
Risk Profiling Snapshot
Gain insight into a vendor’s demographic information, 4th-party technologies, ESG scores, recent business and reputational insights, data breach history, and recent financial performance for risk-based vendor selection decisions.
Offline Profile Updates
Download your vendor repository, make changes, add context, and re-import profiles for speed and consistency.
Centralized Intake & Process Enforcement
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.
Workflow Rules
An extensible automation and rules engine automatically suggests triage actions based on vendor attributes to inform profiling and tiering decisions.
Role-Based Access
Invite other employees to contribute to vendor onboarding initiatives, controlling who can onboard different categories of third parties and defining who can manage and report on activities.
Contract Lifecycle Management
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate contract lifecycle management.
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.
