Supplier Risk Management Solutions for Manufacturing
Mitigate third-party risk in your supply chain
Manufacturers rely on suppliers and original equipment manufacturers (OEMs) to provide essential inputs for their final products. But with every third-party relationship comes risk – from unwanted cyber intrusions and ransomware, to sourcing and labor violations – which can lead to supply chain failures that halt production. How can manufacturers assess the full scope of risks across their supplier bases to ensure supply chain resilience without overburdening their IT security, procurement and risk management teams?
Prevalent delivers a single solution that unifies the assessment, analysis, monitoring and remediation of third-party IT security and reputational risks across the supply chain. With Prevalent, manufacturers gain better risk visibility across their extended supply chains, reducing the risk of production downtime and reputational damage.
How Prevalent Helps Manufacturers
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Automates the collection and analysis of supplier due diligence, helping teams to instead focus on risk management
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Reduces risk by delivering visibility into 4th- and Nth-party suppliers
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Simplifies assessments, incorporating IT security, reputational, regulatory, financial and other types of supplier data into a holistic view of risk
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Transforms supplier risk management from a static, point-in-time project to a continuous program leveraging real-time cyber, reputational and financial insights
On-Demand Webinar: Best Practices for 3rd-Party Risk Remediation
Jeff Kramer of Ford Motor Company shares best practices for building and sustaining good supplier relationships.
Trusted by Leading Manufacturers
Key Features
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Supplier Pre-Screening
Rapidly pre-screen suppliers using a library of continuously updated risk profiles based on inherent/residual risk, assessment results and real-time reputational monitoring.
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Comprehensive Supplier Profile
Tap into 550,000+ sources of vendor intelligence to build a comprehensive supplier profile that includes industry and business insights, beneficial ownership, and maps potentially risky 4th-party relationships.
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Inherent Risk Scoring
Use a simple assessment with clear scoring to track and quantify inherent risks and chart the right path for a complete supplier risk assessment.
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Risk Assessment Library
Leverage Prevalent's library of 200+ questionnaire templates, including cybersecurity, Modern Slavery and supply chain resilience, to determine adherence to policies and flag potential areas of concern.
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Risk Review & Analysis
Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
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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.
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Supplier Reputation Monitoring
Access qualitative insights from over 550,000 public and private sources of reputational information, including negative news, regulatory and legal actions, adverse media, conflicts of interest and more.
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Financial Governance & Transparency Monitoring
Tap into financial information from a network of millions of businesses across 160+ countries. Access 5 years of organizational changes and financial performance, including turnover, profit and loss, shareholder funds transparency, and more.
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Global Sanctions Monitoring
Simultaneously screen against the world’s most important sanctions lists (including OFAC, EU, UN, BOE, FBI, BIS, etc.), over 1,000 global enforcement lists, and court filings (such as the FDA, US HHS, UK FSA, SEC and more) to proactively identify prohibited business relationships.
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Corruption Perception Index Scoring
Corruption Perception Index (CPI) scores of company head office countries add more business context to vendor risk analysis by delivering insights into a vendor’s viability and ethics.
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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.
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Central Risk Register
Normalize, correlate and analyze assessment results and continuous monitoring intelligence for unified reporting and remediation.
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Built-in Remediation Guidance
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
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Relationship Mapping
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies risks in your extended vendor ecosystem.
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Document & Evidence Management
Store and manage policy documents, evidence and more for dialog and attestation.
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Risk Reporting
Identify, alert and communicate exceptions to common behavior with built-in report templates.
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Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to requirements.
Partnering with Prevalent has brought third-party management expertise, allowing our organizations to simplify our risk assessment process, better manage our vendors, and have more visibility into our risks without having to scale up resources.
— Risk Manager, Large Enterprise Consumer Products Company
Who Wins
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Procurement
Reduce the potential for business disruptions by ensuring that new supply chain partners adhere to sound security, labor and ethical sourcing practices, and can demonstrate resilience.
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IT Security
Automate the scheduling, collection, analysis, management, and remediation of supply chain risks in a central platform available to multiple internal stakeholders.
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Risk Management
Ensure that suppliers have policies in place to reduce the risk of fines, non-compliance, business disruption and reputational damage.
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Blog PostSupplier Risk Management: The Definitive Guide
Supplier Risk Management (SRM) is increasingly raised as a board-level topic as business continuity concerns and...
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Blog Post
Top Supplier Risks and What to Do About Them
Your organization likely faces an abundance of supplier risks that it may not have even considered...
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On-Demand Webinar
Supply Chain Risk: Fourth Parties and Beyond
Brenda Ferraro, VP of Third-Party Risk at Prevalent, discusses best practices on gaining deeper risk visibility...
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Ready for a demo?
- Schedule a free personalized solution demonstration to see if Prevalent is a fit for you.
- Request a Demo