Prevalent Launches First-of-its-Kind Third-Party Risk Management Solution to Help Organizations of Any Size Rapidly Ensure Supply Chain Resilience

With Prevalent TPRM Jump Start organizations can discover and quantify the risk of their most critical vendors in 30 days or less

Prevalent, Inc., the company that transforms how you manage third-party risk, announced Prevalent TPRM Jump Start, a new solution to help risk teams of any size accelerate their third-party risk management programs with a focus on providing insights and value in 30 days or less. As supply chain security and business resilience have become more important amid COVID-19, companies must ensure that their vendors are secure and can withstand the pressures of today’s economic environment.

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Prevalent TPRM Jump Start includes two solutions offered as a SaaS service – Discover and Assess – with fixed-price packages of specific capabilities to help organizations quickly automate the processes necessary to assess supply chain resilience.

• Prevalent TPRM Jump Start Discover enables organizations to centrally manage vendors and quickly determine inherent risk to optimize planning, resource allocation and remediation decision-making. With unlimited vendors, unlimited users, and unlimited profiling and tiering, Jump Start Discover provides enterprise flexibility at scale and is the ideal solution for organizations looking to plan, grow, or optimize their third-party risk management programs.
• Prevalent TPRM Jump Start Assess enables organizations to embrace a centralized, automated platform to discover and quantify the residual risk of their top vendors in 30 days or less. Organizations can automate and optimize their third-party risk activities using a single, dynamic questionnaire that is mapped to multiple security and compliance frameworks such as ISO, NIST, CMMC, PCI, HIPAA, GDPR, CCPA, NYDFS, CAIQ and more or leverage a custom survey creation wizard to meet unique requirements. With unlimited users and powerful assessment capabilities, Jump Start Assess gives organizations the ability to eliminate spreadsheets and manual processes. This solution is ideal for gaining quick results and for those who have to adhere to multiple security, compliance and privacy requirements.

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“Today’s unprecedented economic landscape has brought broken supply chains to the forefront. Companies can no longer endanger their own business by not having the right processes in place to manage risk,” said Brenda Ferraro, vice president of third-party risk at Prevalent, Inc. “We developed this solution to enable companies – regardless of size or maturity – to accelerate time to value.”

Prevalent TPRM Jump Start delivers:

• Automated onboarding and central management of an unlimited number of vendors
• Inherent risk scoring for an unlimited number of vendors
• Unlimited number of users to access the SaaS service for management, reporting or auditing
• Standardized assessments, risk scoring and remediation guidance to reduce residual risk
• Built-in reporting against common compliance and security frameworks
• Programmatic best practices processes to build a foundation for a more mature TPRM program

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