Original Research on Prevalent

Prevalent Customer Satisfaction Rating

An IT Specialist at a Global 500 pharmaceuticals company would be very likely to recommend Prevalent for this reason:

Prevalent Case Study

Large Enterprise Automotive & Transport Company

Introduction

This case study of a large enterprise automotive & transport 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.

“Helps enable quicker conversation between us and the vendor. Helps quantify the risk.”

Challenges

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

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
- 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
- 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
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:

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)
- Greater risk-based intelligence

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 Testimonial

Prevalent has made assessing vendors infinitely easier than any manual method. Additionally, having a well-developed platform has given credibility to the program.

— Aaron Morford, IT Security Administrator, Crown Equipment Corporation

Prevalent Case Study

Large Enterprise Professional Services Company

Introduction

This case study of a large enterprise 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 sending reminders/getting responses to risk assessments

Estimated time spent on vendor intake and onboarding:

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

Use Case

Currently assessing their vendors for the following:

Business Resilience
Cybersecurity
Data Privacy
Financial & Credit
Reputation

Results

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

Very important for sourcing and selection of vendors
Critical for intake and vendor onboarding
Essential for scoring inherent risks
Essential 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 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%

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

Large Enterprise Automotive & Transport Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Large Enterprise Professional Services Company

Introduction

Challenges

Use Case

Results

Company Profile

About Prevalent

Using Prevalent Accelerates Assessment Completion by 8 Days on Average

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.