Diversity Risk Assessment & Monitoring
Assess and continuously monitor your supply chain partners for diversity and hiring practices
Doing business with third parties in a more socially conscious world means ensuring that vendors not only adhere to national labor laws and standards, but also that their employee base accurately reflects society as a whole.
However, most third-party risk management products focus solely on cybersecurity risks and ignore diversity and inclusion issues, which can lead to customer losses and reputational damage.
The Prevalent Third-Party Risk Management Platform includes capabilities to assess third parties against diversity and inclusion-in-hiring practices. It also features built-in integration with continuous reputational, and compliance insights to validate assessment results.
Key Benefits
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Gain visibility into a supply chain partner’s hiring equity practices
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Get ahead of potential business disruptions by leveraging continuous supplier reputation intelligence
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Automate assessments with diversity questionnaires that are backed by validation from continuous, real-world monitoring
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Speed diversity reporting with built-in templates
The quality of our vendor risk management program has improved significantly by using Prevalent.
— Chief Information Officer, Large Enterprise Professional Services Company
Key Features
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Supplier Pre-Screening
Rapidly pre-screen vendors using a library of continuously updated risk scores based on inherent/residual risk, assessment results and real-time reputational monitoring.
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Contract Lifecycle Management
Centralize the onboarding, distribution, discussion, retention, and review of vendor contracts, and leverage workflow to automate the contract lifecycle, ensuring enforcement of diversity requirements.
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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.
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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 diversity assessment.
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Risk Assessment Library
Leverage 200+ assessment templates, including industry-standard questionnaires, the Prevalent Compliance Framework (PCF), and customizable questionnaires to assess against diversity criteria.
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Diversity Risk Review
Review and approve assessment responses to automatically register risks, or reject responses and request additional input.
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Operational Updates
Access qualitative insights from over 550,000 public and private sources of operational information, including M&A activity, business news, management and leadership changes, competitive news, new offerings, operational updates, and more.
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Adverse Media Screening
View consolidated adverse media and negative news coverage sourced from 30,000 global news sources.
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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 diversity, hiring and other related policy documents, evidence and more for dialog and attestation. Leverage built-in automated document analysis based on AWS natural language processing and machine learning analytics to confirm key criteria are addressed.
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Compliance Reporting
Visualize and address compliance requirements by automatically mapping assessment results to diversity requirements.
Who Wins
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Procurement
Reduce the potential for business disruptions by ensuring that new vendors adhere to sound diversity, hiring and inclusion practices.
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IT Security
Add context to cybersecurity assessments and automate the scheduling, collection, analysis, management, and remediation of vendor risks in a central platform.
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Risk Management
Ensure that supply chain partners have sound diversity policies in place to reduce the risk reputational damage.
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.
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Blog PostESG Compliance: Understanding the Patchwork of ESG Regulations
Discover key insights into ESG compliance, focusing on third-party risk management, adherence to regulations, and an...
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White Paper
Navigating ESG and Third-Party Risk Management
Leverage a best practices framework for incorporating ESG into your third-party risk management program.
Template/ToolkitRFP Toolkit for Third-Party Risk Management Solutions
This free Third-Party Risk Management RFP Kit includes a customizable questionnaire, solution comparison sheet, and scoring...
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Ready for a demo?
- Schedule a free personalized solution demonstration to see if Prevalent is a fit for you.
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