Securely wind down business relationships
All vendor relationships eventually come to an end, but your risk exposure doesn’t disappear when the contract is terminated. There are final obligations to meet, data destruction procedures to follow, ongoing service agreements to consider, vendor access and credentials to remove, and final payment terms to confirm.
Despite this, 60% of companies say they are not actively assessing third-party risks during offboarding. How can you ensure all critical offboarding tasks are complete in order to minimize your company’s risk exposure?
The Prevalent Third-Party Risk Management Platform automates contract assessments and offboarding procedures to reduce your organization’s risk of post-contract exposure.
Key Benefits
- Streamline the complex task of determining post-contract risk exposure
- Gain visibility into the entire vendor risk lifecycle – from onboarding to offboarding
-
Reduce the risk of a post-contract business disruption
Key Features
Contract Assessment & Review
Schedule tasks to review contracts to ensure all obligations have been met. Issue customizable contract assessments to evaluate status.
Automated Offboarding
Leverage customizable surveys and workflows report on system access, data destruction, access management, compliance with all relevant laws, final payments, and more.
Workflow
Increase efficiency with an automation and rules engine that automatically suggests actions based on answers to offboarding assessments and routes tasks to additional reviewers.
Document Management
Centrally store and manage documents and certifications, such as NDAs, SLAs, SOWs and contracts. Leverage built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm key criteria are addressed.
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.
Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to regulatory and industry frameworks.
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.
