Original Research on Prevalent

Prevalent Customer Research

What challenges did deploying Prevalent solve for your organization?

A lack of automation in collecting and analyzing vendor surveys	61%
A limited ability to continuously monitor vendors	58%
An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities	48%
An inconsistent methodology for vendor risk management	39%
A lack of insights to make risk-based decisions	33%
Having no centralization of TPRM functions	33%
A lack of guidance in addressing industry standards or third-party regulatory compliance requirements for cyber risk, InfoSec, or data privacy	21%

Prevalent Customer Research

Customers Reduce the Hours Required to Manage Vendors Assessments by 50%

On average, how much time was/is devoted – per vendor – to sending assessments, finding and interacting with contacts, and verifying that questions were adequately answered?

	1 hour or less per vendor	2-3 hours per vendor	4-5 hours per vendor	6-8 hours per vendor	More than 8 hours per vendor
Prior to using Prevalent	12%	22%	22%	22%	22%
Since using Prevalent	38%	31%	31%	0%	0%

Prevalent Case Study

Utmost Limited

Introduction

This case study of Utmost Limited is based on a June 2021 survey of Prevalent customers by TechValidate, a 3rd-party research service.

“Streamlined the vendor questionnaire process.”

Challenges

Their primary vendor risk assessment pain points were:
- Too much time spent scouring through disconnected sources of information to make good risk-based vendor selection decisions
- Too much time spent manually onboarding new vendors
- Complex, manual assessment processes (e.g., using spreadsheets)

Use Case

Currently assessing their vendors for the following:
- Business Resilience
- Cybersecurity
- Financial & Credit
- Modern Slavery
- Reputation

Results

Level of agreement:
- Prevalent provides the inherent risk visibility they need to focus on specific areas of their vendors’ risks: agree
- Prevalent provides the real-time cybersecurity, reputational and financial intelligence they need: agree
- Prevalent provides the inherent risk visibility they need to focus on specific areas of their vendors’ risks: agree
- Prevalent provides a programmatic process to offboard vendors that reduces risk: agree
Prevalent is critical on the following vendor lifecycle stages:
- Sourcing and selection of vendors: important
- Intake and vendor onboarding: important
- Scoring inherent risks: important
- Assessing vendors and remediating risks: important
- Continuously monitoring for vendor cybersecurity, reputational and financial risks: important
- Managing ongoing vendor performance and SLAs: important
- Offboarding and termination of vendors: important
Level of agreement:
- Prevalent allows us to do our job more effectively: agree
- Prevalent’s vendor risk assessment process is invaluable to our group: agree
- Prevalent reduced the time and complexity required to perform vendor risk assessments: agree
- We have realized major cost savings with Prevalent’s vendor risk management process.: agree

Prevalent Customer Review

4.5/5 Stars

How our organization uses Prevalent:

Review the cyber, legal, and finance information needed to complete due diligence and onboarding.

Would you recommend Prevalent?

Prevalent Customer Testimonial

Partnering with Prevalent has brought third party management expertise allowing our organizations to simplify our risk assessment process, better manage our vendors, and have more visibility into our risks without having to scale up resources.

— Risk Manager, Large Enterprise Consumer Products Company

Prevalent Case Study

Large Enterprise Professional Services Company

Introduction

This case study of a large enterprise professional services company is based on a July 2021 survey of Prevalent customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“It helps us to validate the vendor risks.”

Challenges

Their primary vendor risk assessment pain points were:
- Lack of visibility into the baseline risks with a new vendor
- No real-time insight into vendor cyber, reputational and/or financial risks
Estimated time spent on vendor sourcing and selection:
- Before Prevalent: 1 week or more
- Since Prevalent: 1 day+
Estimated time spent on vendor intake and onboarding:
- Before Prevalent: 1 week+
- Since Prevalent: 1 day+

Use Case

Currently assessing their vendors for the following:
- Business Resilience
- Cybersecurity
- Data Privacy

Results

Level of agreement:
- Prevalent provides the inherent risk visibility they need to focus on specific areas of their vendors’ risks: agree
- Prevalent provides the real-time cybersecurity, reputational and financial intelligence they need: agree
- Prevalent provides a programmatic process to offboard vendors that reduces risk: agree
Prevalent is critical on the following vendor lifecycle stages:
- Sourcing and selection of vendors: important
- Intake and vendor onboarding: important
- Scoring inherent risks: important
- Assessing vendors and remediating risks: important
- Continuously monitoring for vendor cybersecurity, reputational and financial risks: important
- Managing ongoing vendor performance and SLAs: important
- Offboarding and termination of vendors: important
Level of agreement:
- Prevalent allows us to do our job more effectively: agree
- Prevalent’s vendor risk assessment process is invaluable to our group: strongly agree
- Prevalent reduced the time and complexity required to perform vendor risk assessments: agree
- We have realized major cost savings with Prevalent’s vendor risk management process.: agree

TechValidate Research on Prevalent

These pages present data that TechValidate has sourced via direct research with verified customers and users of Prevalent. TechValidate stands behind the authenticity of all published data. Learn more »

About TechValidate Research

Featured Research Collections for Prevalent

Selected Research Highlights

Customers Reduce the Hours Required to Manage Vendors Assessments by 50%

Utmost Limited

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

How our organization uses Prevalent:

Would you recommend Prevalent?

Large Enterprise Professional Services Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

More to Explore

About Prevalent

Prevalent is helping global organizations manage and monitor the security threats and risks associated with third and fourth-party vendors.