Vendor Risk Management Solutions for Retail
Protect your brand with Prevalent third-party risk management
Retailers must not only protect their organizations against third-party cyberattacks targeting point-of-sale systems and personally identifiable information (PII), but also assess their suppliers for ethical sourcing and child labor concerns. With several regulations in place to enforce these requirements, how can organizations ensure they are assessing their third parties for the full scope of risks – both cyber and non-cyber?
Prevalent delivers a single solution that unifies the assessment, analysis and remediation of third-party IT security, privacy, reputational and regulatory risks. With Prevalent, retail organizations gain better risk visibility across their extended supply chains, reducing the risk of reputational damage and business disruptions.
How Prevalent Helps Retail Organizations
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Automates the collection and analysis of third-party due diligence, helping teams to instead focus on risk management
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Simplifies compliance audits, providing pre-built questionnaires and reports to satisfy multiple stakeholders
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Unifies third-party risk management with enterprise risk management, leveraging a library of pre-built connectors to GRC tools and reporting solutions
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Transforms third-party risk management from a static, point-in-time project to a continuous program leveraging real-time cyber, reputational and financial insights
Prevalent has automated and brought consistency to the initial onboarding of all third parties, which has allowed the team to focus on what matters.
— Global 500 Retail Company
Trusted by Leading Retail Organizations
Key Features
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Supplier Pre-Screening
Rapidly pre-screen vendors 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 third-party risk assessment.
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Risk Assessment Library
Leverage Prevalent's library of 200+ questionnaire templates, including for the UK Modern Slavery Act; environment, social and governance (ESG) regulations; PCI DSS, GDPR and CCPA 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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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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Relationship Mapping
Identify relationships between your organization and third, fourth and Nth parties to discover dependencies in your extended supplier ecosystem.
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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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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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Built-in Remediation Guidance
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
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Document & Evidence Management
Store and manage policy documents, evidence and more for dialog and attestation.
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Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to requirements.
Who Wins
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Procurement
Reduce the potential for business disruptions by ensuring that new supply chain partners adhere to sound security, data privacy and labor and ethical sourcing practices.
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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 supply chain partners have policies in place to reduce the risk of fines, non-compliance, business disruption and reputational damage.
Discover Best Practices for Supply Chain Resilience
Expand your knowledge of supplier risks and get prescriptive guidance for maturing your supplier risk management program.
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On-Demand WebinarLowe’s Knows Third-Party Risk Management
Join Jefferson Pike, Sr. Manager IT Security TPRM, for a webinar discussing lessons learned as Lowe's...
Blog PostModern Slavery Risk Assessments in the Extended Enterprise: A Quick...
New legislation aims to improve enforcement over modern slavery violations. How much visibility do you have...
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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Ready for a demo?
- Schedule a free personalized solution demonstration to see if Prevalent is a fit for you.
- Request a Demo