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 »



410 Data Points Collected

32 Published TechFacts

11 Published Charts

25 Published Case Studies



Featured Research Collections for Prevalent

Curated collections and slideshows of TechValidate research data on Prevalent.



Selected Research Highlights


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 Statistic

57% of organizations agreed with the following statement:

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

Prevalent Case Study

State & Local Government

Introduction

This case study of a state & local government is based on an October 2019 survey of Prevalent customers by TechValidate, a 3rd-party research service. The profiled organization asked to have their name blinded to protect their confidentiality.

“Prevalent enables us to know what risks there are with vendors hosting our data.”

Challenges

The business challenges that led the profiled organization 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
    • Greater risk-based intelligence
  • Challenges that deploying Prevalent solved for their organization:
    • 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
  • Vendors evaluated before choosing Prevalent:
    • CyberGRX

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 0-10%.

Results

The surveyed organization 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: differentiated
    • Automated risk and compliance register: very differentiated
    • Centralized document/evidence management: 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
    • User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: differentiated
  • Saved about 1 week per assessment on average by utilizing the Prevalent Platform.

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 Research

By how much are you looking to grow the number of vendors you assess in the next 12 months?

0-10%: 38%
11-25%: 29%
More than 25%+: 25%
We are not planning to grow the number of vendors we are assessing in the next 12 months.: 8%

Prevalent Case Study

Wright Express Corporation

Introduction

This case study of Wright Express Corporation is based on a June 2020 survey of Prevalent customers by TechValidate, a 3rd-party research service.

“Prevalent made things a lot easier to manage. Taking over the program they had in place quickly boosted organization and productivity.”

Challenges

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

  • Time on average devoted to sending assessments, finding and interacting with contacts, and verifying that questions were adequately answered:
    • Prior to using Prevalent: 2-3 hours per vendor
  • Reasons they were not able to complete more assessments prior to utilizing Prevalent:
    • Not enough time
  • Turnaround time from assessment submission to receiving an adequately completed assessment:
    • Prior to using Prevalent: 11-20 days per assessment

Use Case

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

  • Prior to utilizing Prevalent, they were able to complete 21-50 assessments per year.
  • Able to complete 50 or more assessments per year since they began utilizing Prevalent for managed collection and analysis services.

Results

The surveyed company achieved the following results with Prevalent:

  • Time on average devoted to sending assessments, finding and interacting with contacts, and verifying that questions were adequately answered:
    • Since using Prevalent: 1 hour or less per vendor
  • Turnaround time from assessment submission to receiving an adequately completed assessment:
    • Since using Prevalent: 6-10 days per assessment
  • Now that they are utilizing Prevalent:
    • They have been able to redirect resources previously dedicated to collecting and analyzing vendor-submitted questionnaires and evidence to other activities
  • Prevalent capabilities in terms of how differentiated they are compared to the competition:
    • Vendor Onboarding: very differentiated
    • Vendor Assessment & Evidence Collection: differentiated
    • Vendor Evidence Review & Analysis: very differentiated
    • Vendor Remediation & Recommendations: differentiated
    • Program & Actionable Reporting: differentiated
  • They are looking to grow the number of vendors they assess in the next year by 11-25%.


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