Solutions for Risk Management Teams

Key Capabilities

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  Automated Onboarding

  Import vendors via a spreadsheet template or through an API connection to your existing procurement solution, eliminating error-prone, manual processes.

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  Inherent Risk Scoring

  Use a simple assessment with clear scoring to capture, track and quantify inherent risks for all third parties.

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  Profiling & Tiering

  Automatically tier suppliers according to their inherent risk scores, set appropriate levels of diligence, and determine the scope and frequency of assessments.

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  Categorization

  Categorize vendors with rule-based logic based on a range of data interaction, financial, regulatory and reputational considerations.

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  Risk Assessment Library

  Leverage 200+ standardized risk assessment surveys, a custom survey creation wizard, and a questionnaire that maps responses to compliance regulations and frameworks.

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  Continuous Monitoring

  Monitor the Internet and dark web for cyber threats and vulnerabilities, as well as public and private sources of reputational, sanctions and financial information to fill gaps between periodic risk assessments.

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  Automated Risk & Compliance Registers

  Automatically generate a risk register for each vendor upon survey completion. View centralized risk profiles in a real-time reporting dashboard and download or export reports to support compliance efforts.

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  Risk Scoring & Analysis

  Quickly gauge the impact of vendor risks with consolidated views of risk ratings, counts, scores and flagged responses for each vendor.

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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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  Workflow

  Built-in discussion tools facilitate communication with suppliers on remediating risk register issues. Capture and audit conversations, records, and estimated completion dates. Assign tasks based on risks, documents, or entities and match documentation or evidence against risks.

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  Document & Evidence Management

  Collaborate on supporting evidence, documents and certifications, such as NDAs, SLAs, SOWs and contracts, with built-in version control, task assignment and auto-review cadences. Manage all documents throughout the vendor lifecycle in centralized vendor profiles.

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  Integrate with GRC Solutions

  Maximize the value of your organization's GRC solution by connecting it to the Prevalent TPRM Platform using a built-in API connector.

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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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  Report Template Library

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

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  Data & Relationship Mapping

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

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  Offboarding & Termination

  Leverage customizable offboarding surveys and workflows report on system access, data destruction, access management, compliance with all relevant laws, final payments, and more.