Third-Party Vendor Risk Assessment

Leverage 750+ pre-defined assessment templates including SIG Core, SIG Lite and H-ISAC standardized vendor risk assessment questionnaires, as well as GDPR, FCA, PCI-DSS, ISO 27001, CMMC, NIST, Modern Slavery, Anti-Bribery, Health & Safety, Management & Ethics and more with the Prevalent Compliance Framework (PCF). Import offline assessments or build custom questionnaires with risk and control elements relevant to your business. Vendors can also update you on events with proactive assessments.

Use AI to transfer data from any completed assessment in an Excel spreadsheet or PDF document to a new assessment, regardless of formatting. After populating the new assessment, the Platform analyzes which questions were completed by AI, highlights any unanswered questions, and allows for a manual review to accept or reject the AI-generated answers.

Generate risk registers upon survey completion. Prevalent normalizes, correlates and analyzes information across inside-out risk assessments and outside-in cyber, business, reputational, and financial monitoring from Prevalent Vendor Threat Monitor and BitSight. This unified model provides context, quantification, management, and remediation support, while automating risk reviews, reporting and response.

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. Quickly navigate to risk registers, contracts, or survey submissions; change a vendor's status; or inquire about the services of a specific third party.

Leverage a pre-packaged library of ActiveRules to automate a range of tasks normally performed as part of the onboarding assessment and review processes – such as updating vendor profiles and risk attributes, sending notifications, or activating workflow – utilizing if-this, then-that logic.

Efficiently communicate with vendors and coordinate remediation efforts. Capture and audit conversations; record estimated completion dates; accept or reject submissions on an answer-by-answer basis; assign tasks based on risks, documents or entities; and match documentation and evidence to risks. Includes built-in remediation guidance to accelerate risk mitigation.

Reveal risk trends, status and exceptions to common behavior for individual vendors or groups with embedded machine learning insights. Quickly identify outliers across assessments, tasks, risks, etc. that could warrant further investigation.

Automatically map information gathered from control-based assessments to regulatory frameworks including ISO 27001, NIST, CMMC, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, SOX, NYDFS, and more to quickly visualize and address important compliance requirements.

Identify relationships between your organization and third parties to discover dependencies and visualize information paths.

Centralize agreements, contracts and supporting evidence. Includes built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm evidence suitability.

Simplify vendor management with custom dashboards that can include calendar views of actions, as well as survey schedules, tasks, audit trails, and requirements tracking. Build vendor profiles that include location, ownership, revenue, SIC code, fiscal year end, technologies in use, mapping of fourth parties, and other information for managing the full vendor lifecycle.