Prevalent: Prevalent Retail Customers

Prevalent Customer Testimonial

Prevalent Delivers Consistency & Focus

It has automated and brought consistency to the initial onboarding of all Third Parties, which has allowed the team to focus on what matters.

— Chief Security Officer, Global 500 Retail Company

Prevalent Case Study

Large Enterprise Retail Company

Introduction

This case study of a large enterprise retail 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.

Challenges

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

Top driver 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)
Challenges that deploying Prevalent solved for their organization:
- A lack of automation in collecting and analyzing vendor surveys
- Having no centralization of TPRM functions
- An inconsistent methodology for vendor risk management
Vendors evaluated before choosing Prevalent:
- OneTrust
- Riskonnect

Use Case

Regulations or industry frameworks they must regularly report against:
- GDPR
- PCI
- CIS CSC Top 20
Looking to grow the number of vendors they assess in the next 12 months by 0-10%.

Results

The surveyed company achieved the following results with Prevalent:

The following Prevalent capabilities in terms of how differentiated they are compared to the competition:
- Breadth of available surveys: differentiated
- Centralized document/evidence management: differentiated
- Create tasks, flags, and risks based on results of assessment responses in risk register: differentiated
- Identify key controls and apply reporting to the most critical relevant risks: differentiated
- In-solution communication with suppliers on remediating risks: differentiated
- Map results to regulatory and industry frameworks like ISO, NIST, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, NYDFS for reporting purposes: differentiated
- Identify and visualize relationships between entities to demonstrate dependencies and flows of information: differentiated
- User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: differentiated

Prevalent Case Study

Large Enterprise Retail Company

Introduction

This case study of a large enterprise retail 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.

“With Prevalent, my organization has been able to redirect resources previously dedicated to collecting and analyzing vendor-submitted questionnaires and evidence to other activities.”

Challenges

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

Top drivers for purchasing their Prevalent third-party risk management solution:
- Stronger cybersecurity, to ensure that third parties do not introduce cyber risks that could negatively impact the business
- Reduce operational burden (the process of assessing and evaluating vendors took too much time and resources)
- Greater risk-based intelligence
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

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 more than 25%+.

Results

The surveyed company achieved the following results with Prevalent:

The following Prevalent capabilities in terms of how differentiated they are compared to the competition:
- Breadth of available surveys: differentiated
- Assessment scheduling and automated chasing reminders: very differentiated
- Automated risk and compliance register: very differentiated
- Centralized document/evidence management: very highly differentiated
- Create tasks, flags, and risks based on results of assessment responses in risk register: differentiated
- In-solution communication with suppliers on remediating risks: differentiated
- Scan third-party networks and apply business intelligence to provide and “outside-in” weighted score of risks: differentiated
- User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: differentiated
How long it took to complete an assessment:
- Before deploying Prevalent: 1-2 weeks
- After deploying Prevalent: less than 1 week
Saved more than 1 week per assessment on average by utilizing the Prevalent Platform.

Prevalent Case Study

Global 500 Retail Company

Introduction

This case study of a Global 500 retail 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.

“It has automated and brought consistency to the initial onboarding of all Third Parties, which has allowed the team to focus on what matters.”

Challenges

The business challenges that led the profiled company to evaluate and ultimately select 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)
Challenges that deploying Prevalent solved for their organization:
- A lack of automation in collecting and analyzing vendor surveys
- A limited ability to continuously monitor vendors
- An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities
- An inconsistent methodology for vendor risk management
Vendor evaluated before choosing Prevalent:
- Synergi

Use Case

Regulations or industry frameworks they must regularly report against:
- GDPR
- ISO 27001
- PCI
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:

The following Prevalent capabilities in terms of how differentiated they are compared to the competition:
- Breadth of available surveys: differentiated
- Centralized document/evidence management: differentiated
- Create tasks, flags, and risks based on results of assessment responses in risk register: differentiated
- In-solution communication with suppliers on remediating risks: differentiated
- Identify and visualize relationships between entities to demonstrate dependencies and flows of information: differentiated
How long it took to complete an assessment:
- Before deploying Prevalent: 1-2 weeks
- After deploying Prevalent: less than 1 week
Saved about 1 week per assessment on average by utilizing the Prevalent Platform.

Prevalent Retail Customers

Read how Prevalent's retail industry customers are benefiting from our third-party risk management platform.

Prevalent Delivers Consistency & Focus

Large Enterprise Retail Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Large Enterprise Retail Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Global 500 Retail Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent