Original Research on Prevalent

Prevalent Customer Research

Using Prevalent Accelerates Assessment Completion by 8 Days on Average

What is/was the typical turnaround time from assessment submission to receiving an adequately completed assessment?

	1 day or less per assessment	2-5 days per assessment	6-10 days per assessment	11-20 days per assessment	More than 20 days per assessment
Prior to using Prevalent	0%	0%	0%	25%	75%
Since using Prevalent	0%	8%	54%	38%	0%

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

Small Business Professional Services Company

Introduction

This case study of a small business professional services company is based on a June 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.

Challenges

Their primary vendor risk assessment pain points were:

Too much time spent scouring through disconnected sources of information to make good risk-based vendor selection decisions
Too much time spent manually onboarding new vendors

Estimated time spent on vendor sourcing and selection:

Before Prevalent: 1 week+
Since Prevalent: 2-4 hours

Estimated time spent on vendor intake and onboarding:

Before Prevalent: 1 week+
Since Prevalent: 1 day+

Use Case

Currently assessing their vendors for the following:

Cybersecurity
Data Privacy
Financial & Credit

Results

Prevalent’s level of importance on the following vendor lifecycle stages:

Critical for sourcing and selection of vendors
Essential for intake and vendor onboarding
Important for scoring inherent risks
Important for assessing vendors and remediating risks
Critical for continuously monitoring for vendor cybersecurity, reputational and financial risks

Agrees with Prevalent’s abilities and results:

Prevalent allows us to do our job more effectively
Prevalent’s vendor risk assessment process is invaluable to our group
Prevalent reduced the time and complexity required to perform vendor risk assessments
They have realized major cost savings with Prevalent’s vendor risk management process
Prevalent provides the inherent risk visibility they need to focus on specific areas of their vendors’ risks
Prevalent provides the real-time cybersecurity, reputational and financial intelligence they need
Prevalent provides the inherent risk visibility they need to focus on specific areas of their vendors’ risks

Prevalent Customer Statistic

Prevalent Improves Efficiency Through Automation

65% of surveyed organizations have saved several days or more per assessment on average by utilizing the Prevalent Platform.

65%

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 Customer Testimonial

Prevalent reduced time

— Chief Security Officer, Large Enterprise Professional Services Company

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 »

About TechValidate Research

Featured Research Collections for Prevalent

Selected Research Highlights

Using Prevalent Accelerates Assessment Completion by 8 Days on Average

Small Business Professional Services Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Prevalent Improves Efficiency Through Automation

Global 500 Retail Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

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.