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Prevalent Automotive & Transport Customers

Learn how customers in the automotive and transport industries are benefiting from using Prevalent's third-party risk management platform.

Prevalent Customer Testimonial

Prevalent Helps Get Results Faster

Helps enable quicker conversation between us and the vendor. Helps quantify the risk.

— Risk Manager, Large Enterprise Automotive & Transport Company

Prevalent Case Study

Large Enterprise Automotive & Transport Company

Introduction

This case study of a large enterprise automotive & transport company is based on an October 2019 survey of Prevalent customers by TechValidate, a 3rd-party research service. The profiled company asked to have their name blinded to protect their confidentiality.

“Helps enable quicker conversation between us and the vendor. Helps quantify the risk.”

Challenges

The business challenges that led the profiled company to evaluate and ultimately select Prevalent:

Challenges that deploying Prevalent or 3GRC solved for their organization:
- A lack of automation in collecting and analyzing vendor surveys
- A limited ability to continuously monitor vendors
- A lack of insights to make risk-based decisions
- A lack of guidance in addressing industry standards or third-party regulatory compliance requirements for cyber risk, InfoSec, or data privacy
- An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities
- Having no centralization of TPRM functions
- An inconsistent methodology for vendor risk management

Use Case

Regulations or industry frameworks they must regularly report against:
- GDPR
Looking to grow the number of vendors they assess in the next 12 months by 11-25%.

Results

The surveyed company achieved the following results with Prevalent:

Top drivers for purchasing their Prevalent third-party risk management solution:
- Reduce operational burden (the process of assessing and evaluating vendors took too much time and resources)
- Greater risk-based intelligence

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