Question 1

Who is Prevalent best for - their role(s) within what kind of companies.

Accepted Answer

The Prevalent Third-Party Risk Management Platform is ideal for organizations of all sizes that want to eliminate manual, spreadsheet-based methods of identifying, assessing, remediating and monitoring vendor risks. Many of our customers are in highly regulated industries (such as financial, healthcare, insurance, retail, pharmaceuticals, etc.) and must ensure supply chain security. Typical Prevalent customers are in IT security, audit, compliance, risk management, or on sourcing and procurement teams that are tasked with managing a vendor throughout its relationship lifecycle.

Question 2

How does Prevalent benefit them?

Accepted Answer

With the Prevalent TPRM Platform:
- Procurement teams gain greater pre-contract visibility into risks to help decide which vendor is the lower-risk alternative, as well as risk visibility throughout the vendor lifecycle from onboarding to offboarding.
- IT Security teams gain 360-degree visibility into vendor risks to be more proactive against potential threats.
- Risk Management and Audit teams gain unified reporting to make the most informed risk-based decisions.

Question 3

How technical do users need to be to use Prevalent's software?

Accepted Answer

Customers do not need to be technical at all to benefit from using the Prevalent Platform. The user interface (UI) is simple, clean and workflow-driven to ensure users can easily understand where in the assessment lifecycle they are and what comes next. Reporting is also simple and straightforward, delivering a clear score that explains where risks are and what to do about them.

Question 4

What makes Prevalent a leader in this space?

Accepted Answer

First, we focus on customer results. Customers report saving 50% less manual work, 44% faster risk identification, and 3 times greater productivity by using Prevalent.

Second, we are an innovation leader. We were the first company to introduce the concept of vendor networks, the first to integrate point-in-time assessments with continuous monitoring, and the first to offer vendors their own marketplace for proactively submitting their own assessments to their customers.

Next, scale. Our vendor risk exchange networks are growing by more than 100% each year, and the number of inputs to our risk analysis process is growing every year meaning our customers benefit from significant scale.

Trust. We’re trusted by the world’s most valuable brands to manage their extensive vendor ecosystems. Half of the largest healthcare organizations and law firm, nearly all pharmaceutical companies, and many of the largest global banks trust Prevalent.

Finally, industry leadership. Gartner recognizes Prevalent as a Leader in the IT VRM Magic Quadrant, due to Gartner’s recognition of Prevalent’s strengths in product/service, product strategy, and vertical/industry strategy. Gartner scored Prevalent highest in strategy among dedicated VRM companies in the Leader quadrant.

Question 5

Who are Prevalent's biggest competitors (3-5 companies)?

Accepted Answer

Prevalent competes with TPRM point tools, GRC/IRM platforms with TPRM modules, and security risk scoring tools that provide only a one-dimensional view of vendor risk.

Question 6

How/why is Prevalent better than those competitors (or most others in their market)? What about Prevalent is unique, stronger, easier, etc.?

Accepted Answer

Customers tell us that our approach to addressing TPRM challenges is:

- Smart. Our approach is data-driven, comprehensive, and contextual. We gather and correlate vendor intelligence from hundreds of thousands of public and private sources – and we present it in a quantifiable and contextual way that enables you to be better informed and make smarter decisions.
- Unified. Risk monitoring and assessment must go hand in hand. Our centralized solution breaks down silos between internal departments (IT, procurement, security, risk management) and enables better collaboration with vendors to prioritize and reduce risk.
- Prescriptive. We not only deliver centralized, prioritized and actionable risk data, but also provide remediation recommendations and playbooks that automate the remediation process. This is backed by customer success and services teams that can help you navigate every step.

Question 7

What kind of features can customers expect Prevalent to release in the near future? And longer term?

Accepted Answer

Please contact Prevalent (sales@prevalent.net) so we can learn more about your use cases.

Question 8

Which popular or common software does Prevalent integrate with?

Accepted Answer

Prevalent integrates with ServiceNow for ITSM, BitSight for security risk scoring, SecZetta for third-party identity risk management, and Source Defense for third-party web application vulnerability and vendor analysis. Prevalent also has an open API that enables integration with a host of other tools.

Question 9

Software pricing can often be complex. If it's pretty straightforward, list tiers, pricing (per year, seat, etc) and limits for Prevalent. If it's not simple, use broad estimates or ranges for typical setups.

Accepted Answer

Please contact Prevalent (sales@prevalent.net) for pricing information.

Question 10

Does Prevalent offer a trial or free download available?

Accepted Answer

Prevalent offers several free tools to help customers get started on their TPRM journeys. We offer:

- Free TPRM Maturity Assessment. Built on Prevalent’s proven model with more than 15 years of experience serving hundreds of customers. After completing a 45-question survey, you'll have a one-hour consulting session with Prevalent experts and walk away with an in-depth report on the state of your current TPRM program, plus practical recommendations for how to bring it to the next level.
- Free Vendor Risk Monitoring. Zero-in on a vendor with a free risk report that includes a consolidated numerical risk score, an A-F financial score, plus high/medium/low scores for cyber and business reputational risks, with all supporting events and information that inform your score.
- Free Business & Financial Monitoring for up to 20 vendors. Expand the scope of your third-party risk assessments with complimentary access to reputational and financial risk intelligence on 20 vendors. This is a free product to monitor vendors with no time limit, no credit card required, and no need to talk to a sales rep.

Visit www.prevalent.net/free-third-party-risk-management-tools/ for more information on how to get started.

Question 11

Does Prevalent offer any kind of training/education for their product?

Accepted Answer

Prevalent delivers:

• Product/feature training. Reviews key Platform functionality and explains how to perform specific tasks by role.
• Training on the detailed operational guide developed jointly with the team during the planning phase of implementation. Covers customer-specific roles and responsibilities, workflows, remediation processes and more, and is recorded for future reference.
• New release information and updated features.
• Access to specific training materials targeted at helping their vendors, including: Registering with Prevalent, Logging into the Platform, Navigating to Your Surveys, Responding to a Prevalent Survey.

Question 12

Describe the implementation process and timeline for Prevalent software.

Accepted Answer