Hero priortization scoring

Vendor Inherent Risk Scoring

Improve risk visibility to prioritize vendors

Vendors come in all shapes and sizes. That’s why right-sizing your due diligence activities by profiling, tiering and categorizing vendors can be the secret to a sustainable TPRM program. And that starts with assessing inherent risk, which is a vendor’s risk level before accounting for any specific controls required by your organization.

Prevalent builds comprehensive vendor profiles that include inherent risk scores based on the likelihood and potential impact of security, compliance and operational incidents. Our data-driven assessment process clearly scores and categorizes vendors, delivering prescriptive recommendations regarding the level and scope of due diligence for each type of vendor.

Key Benefits

  • Take a strategic, structured approach to assessment planning by tapping into inherent risk insights from across your third-party portfolio

  • Right-size due diligence activities by prioritizing and categorizing vendors according to their potential risk to your organization

  • Meet the vendor management needs of IT, security, procurement, legal and other departments with comprehensive risk profiles

  • Get the intelligence you need to identify potential cyber, financial, reputational and inherent business risks before contracting with suppliers

Key Features

  • Icon industry risk

    Inherent Risk Scoring

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

  • Icon tiering gold

    Profiling & Tiering

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

  • Icon tiering categorization gold

    Categorization

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

  • Icon community scoring gold

    Community Scoring

    Understand potential exposure from new vendors based on risks tagged to other vendors in similar categories or tiers.

  • Icon risk score gold

    Risk Scoring

    Quickly gauge third-party risk levels with consolidated views of risk ratings, counts, scores and flagged responses for each vendor.

  • Icon arrows actions gold

    Automated Response Actions

    Leverage a library of workflow rules to trigger automated playbooks that enable you to appropriately assess and monitor vendors based on their relationship and potential impact to the business.

  • Icon analytics graph bar

    Machine Learning Analytics

    Reveal risk trends, status and exceptions to common behavior with embedded machine learning insights. Identify outliers across assessments, tasks, risks, and other factors warranting further investigation or score changes.

Navigating the Vendor Risk Lifecycle: Keys to Success

This complimentary guide details best practices for successfully managing risk throughout the vendor lifecycle. See what we've learned in our 20+ years of experience working with hundreds of customers.

Read Now
Feature navigating vendor risk lifecycle

Who Wins

  • Procurement

    Gain an accurate picture of a vendor’s inherent risk to determine what level of further due diligence is required.

    > More procurement and sourcing benefits

  • IT Security

    Tier vendors according to the risk they pose to your business by scoring them across cyber, business, financial and other categories.

    > More IT security benefits

  • Risk Management

    Understand risks from potential vendor breaches, compliance violations, and supply chain disruptions with continuously updated threat intelligence and security ratings.

    > More risk management benefits

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Prevalent has enabled us to streamline and speed up our risk assessment processes, to assess more suppliers, and to identify and focus on more key risks.

— Risk Manager, XPS Pensions Consulting Limited

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