Third-Party Risk Management Leader Launches Industry’s First Vendor Marketplace

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Risk Management Leader

Prevalent Gives Vendors the Power to Take Control of Annual Security Assessments, Significantly Reducing Cost and Saving Time.

Prevalent, Inc., the company that takes the pain out of third-party risk management, today announced the Prevalent Third-Party Marketplace, a first-of-its-kind self-service portal that enables vendors to proactively complete, update and share standardized security assessments with their customers. Now instead of filling out hundreds of assessments, vendors can complete just one and share it broadly.

In an effort to identify security and compliance risks, today’s enterprises require their supply chain partners to complete annual security assessments, which are manual and labor-intensive.

The Prevalent Third-Party Marketplace provides vendors with the ability to self-assess against industry-standard security questionnaires, including SIG-Lite, CMMC, the Prevalent Compliance Framework, and Business Resilience, proactively share the completed assessments with customers and update as needed.

The Marketplace also includes both cyber and business event scorecards. This provides continuous insights into an organization’s cyber footprint from criminal forums, the Dark Web, threat feeds, and paste sites for leaked credentials, as well as insight into events relating to the organization in the public lens.

The scorecard delivers information into how the organization is perceived in the industry based on analysis from over 200,000 sources of company-related data. The cyber scorecard and configurable event notification rules provide customers with the confidence that their supply chain is quickly responding to security threats.

“Companies are under tremendous pressure to meet security and compliance protocols for their customers,” stated Brad Hibbert, chief strategy officer for Prevalent, Inc. “With more than 15 years of experience, Prevalent understands the amount of time and pain that goes into these assessments.

With today’s announcement, we are enabling companies to easily and automatically share standardized assessments with their customers, saving a tremendous amount of time, minimizing frustration and ultimately, reducing their risk exposure.”

The Third-Party Marketplace is available as an annual subscription, enabling security and procurement teams to be more proactive, improving risk visibility, reducing costs, and saving time.  With the Prevalent Third-Party Marketplace, vendors can:

  • Address compliance and security requirements by completing any survey in the Marketplace during the subscription period.
  • Speed responses by delegating questions, repurposing answers, and centrally tracking team progress.
  • Understand potential cyber and business threats with detailed risk scorecards.
  • Set monitoring thresholds and proactive notification of business and cyber event findings.
  • Leverage built-in best-practice guidance for prioritizing and remediating identified risks.
  • Report against multiple security and compliance frameworks and regulations in an easy-to-use dashboard.