Prevalent: Prevelant Medium Enterprise Customers

Prevalent Customer Testimonial

Prevalent Delivers Visibility into Vendor Risks

Prevalent will make it easier to visually see how vendors stack up in a single place.

— Security Manager, Medium Enterprise Energy & Utilities Company

Prevalent Customer Testimonial

Prevalent Delivers a Proven Process

Prevalent allows us to manage third-party risk in an organized way.

— Security Officer, Medium Enterprise Insurance Company

Prevalent Customer Testimonial

Prevalent Delivers Automation

Prevalent is providing a more automated and interactive feature set that allows me to analyze the most important areas.

— IT Specialist, Medium Enterprise Financial Services Company

Prevalent Customer Testimonial

Prevalent Simplifies and Brings Risk Focus to Vendor Onboarding

We’ve built Prevalent into our internal processes as it pertains to vendor on-boarding. If the new vendor meets certain criteria, then they will undergo Prevalent assessment.

— IT Systems Analyst, Medium Enterprise Professional Services Company

Prevalent Case Study

Medium Enterprise Energy & Utilities Company

Introduction

This case study of a medium enterprise energy & utilities 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.

“Prevalent will make it easier to visually see how vendors stack up in a single place.”

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 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
- An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities
- An inconsistent methodology for vendor risk management
Vendors evaluated before choosing Prevalent:
- BitSight
- CyberGRX

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: very differentiated
- Assessment scheduling and automated chasing reminders: very differentiated
- Automated risk and compliance register: very differentiated
- Centralized document/evidence management: very differentiated
- Create tasks, flags, and risks based on results of assessment responses in risk register: very differentiated
- Identify key controls and apply reporting to the most critical relevant risks: very differentiated
- In-solution communication with suppliers on remediating risks: very differentiated
- User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: very differentiated
How long it took to complete an assessment:
- Before deploying Prevalent: 3-4 weeks
- After deploying Prevalent: 2-3 weeks
Saved several days per assessment on average by utilizing the Prevalent Platform.

Prevalent Case Study

Medium Enterprise Insurance Company

Introduction

This case study of a medium enterprise insurance 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.

“Prevalent allows us to manage third-party risk in an organized way.”

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:
- Compliance – reporting against specific regulatory or industry framework requirements
- 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)
Challenges that deploying Prevalent solved for their organization:
- A limited ability to continuously monitor vendors
- An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities
- Having no centralization of TPRM functions
Vendors evaluated before choosing Prevalent:
- BitSight
- OneTrust
- RiskRecon

Use Case

Regulations or industry frameworks they must regularly report against:
- GDPR
- NIST 800-53
- NYDFS and CCPA
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:
- Automated risk and compliance register: differentiated
- Map results to regulatory and industry frameworks like ISO, NIST, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, NYDFS for reporting purposes: differentiated
- User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: differentiated
How long it took to complete an assessment:
- After deploying Prevalent: 3-4 weeks
Saved several days per assessment on average by utilizing the Prevalent Platform.

Prevalent Case Study

Medium Enterprise Financial Services Company

Introduction

This case study of a medium enterprise financial services 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.

“Prevalent is providing a more automated and interactive feature set that allows me to analyze the most important areas.”

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:
- Compliance – reporting against specific regulatory or industry framework requirements
- 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
- 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
- HIPAA
- ISO 27001
- NIST 800-53
- PCI
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: differentiated
- Automated risk and compliance register: differentiated
- Create tasks, flags, and risks based on results of assessment responses in risk register: very differentiated
- Identify key controls and apply reporting to the most critical relevant risks: very differentiated
- Map results to regulatory and industry frameworks like ISO, NIST, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, NYDFS for reporting purposes: very differentiated
- Identify and visualize relationships between entities to demonstrate dependencies and flows of information: very differentiated
How long it took to complete an assessment:
- Before deploying Prevalent: more than a month
- After deploying Prevalent: 3-4 weeks
Saved several days per assessment on average by utilizing the Prevalent Platform.

Prevalent Case Study

Medium Enterprise Professional Services Company

Introduction

This case study of a medium enterprise professional services 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.

“We’ve built Prevalent into our internal processes as it pertains to vendor on-boarding. If the new vendor meets certain criteria, then they will undergo Prevalent assessment.”

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
- An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities
- An inconsistent methodology for vendor risk management

Use Case

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

Saved more than 1 week per assessment on average by utilizing the Prevalent Platform.

Prevalent Case Study

Medium Enterprise Professional Services Company

Introduction

This case study of a medium enterprise professional services 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:
- Compliance – reporting against specific regulatory or industry framework requirements
- 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 solved for their organization:
- A limited ability to continuously monitor vendors
- A lack of guidance in addressing industry standards or third-party regulatory compliance requirements for cyber risk, InfoSec, or data privacy
- Having no centralization of TPRM functions

Use Case

The key features and functionalities of Prevalent that the surveyed company uses:

Regulations or industry frameworks they must regularly report against:
- GDPR
- ISO 27001
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:
- Assessment scheduling and automated chasing reminders: differentiated
- Automated risk and compliance register: differentiated
- Centralized document/evidence management: very differentiated
- Create tasks, flags, and risks based on results of assessment responses in risk register: very differentiated
- Identify key controls and apply reporting to the most critical relevant risks: differentiated
- In-solution communication with suppliers on remediating risks: very differentiated
- Scan third-party networks and apply business intelligence to provide and “outside-in” weighted score of risks: very differentiated
- Map results to regulatory and industry frameworks like ISO, NIST, GDPR, CoBiT 5, SSAE 18, SIG, SIG Lite, NYDFS for reporting purposes: very differentiated
- Identify and visualize relationships between entities to demonstrate dependencies and flows of information: very differentiated
- User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: very differentiated
How long it took to complete an assessment:
- Before deploying Prevalent: 2-3 weeks
- After deploying Prevalent: 1-2 weeks
Saved about 1 week per assessment on average by utilizing the Prevalent Platform.

Prevelant Medium Enterprise Customers

Read how medium-sized organizations are benefiting from the Prevalent third-party risk management platform.

Prevalent Delivers Visibility into Vendor Risks

Prevalent Delivers a Proven Process

Prevalent Delivers Automation

Prevalent Simplifies and Brings Risk Focus to Vendor Onboarding

Medium Enterprise Energy & Utilities Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Medium Enterprise Insurance Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Medium Enterprise Financial Services Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Medium Enterprise Professional Services Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Medium Enterprise Professional Services Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent