Supplier Risk Monitoring Service
Gain continuous insights into potential supplier performance problems before they impact your business
Supplier risk is constantly evolving, so your supplier risk assessments shouldn’t end after onboarding. Your organization can be impacted by a vendor’s financial instability, regulatory violation, or ethics investigation at any time. However, most third-party risk management solutions fail to deliver important financial and reputational intelligence to their customers, leaving procurement teams to manually search for and collate data.
The Prevalent Supplier Risk Monitoring Service is a managed service that continuously monitors hundreds of thousands of public and private sources of reputational, sanctions and financial information, delivering consolidated risk insights to procurement teams that need to stay ahead of supplier disruptions.
Key Benefits
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Gain continuous updates into key supplier financial metrics, news updates, reputation issues, and more
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Reduce procurement costs by leveraging a single comprehensive source of financial, reputational, and business insights
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Gain holistic visibility into supplier risk by correlating supplier risk assessments with existing cybersecurity assessment activities
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Keep your team focused on risk analysis by outsourcing mundane and challenging data collection tasks
The 2023 Gartner Market Guide for Supplier Risk Management
Get the latest insights on the SRM market, what you can expect it to do in the short term, and which solution providers can enable your program.
Key Features
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Supplier Reputation Monitoring
Get real-time insights into negative news, regulatory and legal actions, adverse media, conflicts of interest, and other reputation risks gathered from over 550,000 sources.
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Financial & Credit Monitoring
Access financial information from a network of millions of businesses across 160+ countries, including 5 years of organizational changes and financial performance (e.g., turnover, profit and loss, shareholder funds transparency, and more).
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Global Sanctions Monitoring
Screen vendors 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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Politically Exposed Persons (PEP) Screening
Screen vendors against a global PEP database with access to over 1.8 million politically exposed person profiles, including families and associates, to identify potential leadership risks.
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Corruption Perception Index Scoring
Get contextual risk analysis with insights into vendor viability and ethics as measured by the Corruption Perception Index (CPI) scores of company head office countries.
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State-Owned Enterprise Screening
Validate companies against a proprietary list of government-owned and government-linked enterprises to avoid conflicts of interest.
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Central Risk Register
Gain access to unified risk and remediation reports based on correlated results from assessments and continuous monitoring.
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Workflow & Task Management
An extensible automation and rules engine automatically suggests triage actions based on risks.
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Risk Reporting
Get alerted to exceptions to common behavior.
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Built-in Remediation Guidance
Take actionable steps to reduce vendor risk with built-in remediation recommendations and guidance.
Procurement Due Diligence Service Adds Onboarding & Assessment
The Procurement Due Diligence Service leverages Prevalent’s Vendor Risk Assessment Services to onboard vendors, collect evidence, and make remediation recommendations to accelerate your third-party risk program.
Managed Services Deliverables
The Prevalent Supplier Risk Monitoring Managed Service handles up to 100 of your key suppliers – for $10,500. The managed service includes:
- Implementation & Onboarding: We set up the Prevalent Third-Party Risk Management (TPRM) Platform and onboard users and vendors.
- Platform Features: Gain access to key Platform features for reporting and management.
- Unlimited Platform Users: Enable teams from across the business to participate in supplier risk management.
- Comprehensive, In-Region Support: Receive ongoing assistance and training content from our U.S., Canada and UK-based teams.
- Continuous Monitoring: We monitor hundreds of thousands of sources of reputational and financial intelligence to keep you on top of potential supplier risks.
- Reporting: We provide detailed continuous monitoring results and trends to help you make risk-based supplier decisions.
Who Wins
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Procurement
Gain regular insights into key supplier financial metrics, updates and news.
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IT Security
Add context to cybersecurity assessments and manage vendor risks in a central platform.
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Risk Management
Continuously monitor for risks that could negatively impact your company’s ability to deliver its products and services.
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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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Template/Toolkit
The Supply Chain Resilience Toolkit
Get 9 essential resources for ensuring supply chain resilience during uncertain times.
White Paper6 Strategies to Reduce Supplier Reputational Risk
Discover which reputational risks to watch out for, what penalties to avoid, and how to automate...
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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