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 »



157 Customers Surveyed

1,130 Data Points Collected

96 Published TechFacts

16 Published Charts

50 Published Case Studies



Featured Research Collections for Prevalent

Curated collections and slideshows of TechValidate research data on Prevalent.



Selected Research Highlights


Prevalent Customer Research

87% of Customers Reduce Time Spent per Assessment with Prevalent – With Most Saving More than 26% of Their Time

By what percentage have you been able to reduce time spent per assessment since using Prevalent?

0-10%: 13%
11-25%: 19%
26-50%: 29%
51% or more: 26%
Other: 13%

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:
  • 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 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 Case Study

Large Enterprise Insurance Company

Introduction

This case study of a large enterprise insurance 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.

“Significant reduction in effort reviewing and analyzing vendor due diligence surveys.”

Challenges

  • Their primary vendor risk assessment pain points were:
    • Too much time spent manually onboarding new vendors
    • Lack of visibility into the baseline risks with a new vendor
    • Complex, manual assessment processes (e.g., using spreadsheets)
  • Estimated time spent on vendor intake and onboarding:
    • Before Prevalent: 1 week+
    • Since Prevalent: 4+ hours

Use Case

  • Currently assessing their vendors for the following:
    • Business Resilience
    • Cybersecurity
    • Data Privacy
    • Financial & Credit

Results

  • Level of agreement:
    • Prevalent provides the inherent risk visibility they need to focus on specific areas of their vendors’ risks: strongly agree
    • Prevalent provides the real-time cybersecurity, reputational and financial intelligence they need: agree
  • Prevelant is critical on the following vendor lifecycle stages:
    • Scoring inherent risks: critical
    • Assessing vendors and remediating risks: critical
    • Continuously monitoring for vendor cybersecurity, reputational and financial risks: very Important
  • Level of agreement:
    • Prevalent allows us to do our job more effectively: agree
    • Prevalent reduced the time and complexity required to perform vendor risk assessments: strongly agree
    • We have realized major cost savings with Prevalent’s vendor risk management process.: agree

Prevalent Customer Satisfaction Rating

An Engineer at a large enterprise professional services company would be very likely to recommend Prevalent for this reason:

Great platform.

Prevalent Customer Research

66% of Customers Report Saving at Least Several Days on Assessments Using the Prevalent Platform

How much time per assessment has your team saved on average by utilizing the Prevalent Platform?

More than 1 week: 22%
About 1 week: 22%
Several days: 22%
1 day: 9%
Other: 26%


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.

  Prevalent Website