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 »



109 Customers Surveyed

802 Data Points Collected

78 Published TechFacts

15 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 Satisfaction Rating

Tracey Gernon, an IT Governance and Cyber Risk Manager at Utmost Limited, would be likely to recommend Prevalent for this reason:

Easy to roll out and use.

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%

Prevalent Customer Testimonial

Prevalent has allowed us to initiate this program – It’s invaluable for that.

Security Manager, Fortune 500 Automotive & Transport Company

Prevalent Case Study

Large Enterprise Professional Services Company

Introduction

This case study of a large enterprise professional services company is based on a June 2020 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

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

  • Turnaround time from assessment submission to receiving an adequately completed assessment:
    • Prior to using Prevalent: 11-20 days per assessment
  • Reasons they were not able to complete more assessments prior to utilizing Prevalent:
    • A lack of staffing

Use Case

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

  • Prior to utilizing Prevalent, they were able to complete 1-10 assessments per year.
  • Able to complete 21-50 assessments per year since they began utilizing Prevalent for managed collection and analysis services.

Results

The surveyed company achieved the following results with Prevalent:

  • 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:
    • Confirmed that with the same resources, they are now able to spend time mitigating risks as opposed to validating information. They are focused on the right things
  • Prevalent capabilities in terms of how differentiated they are compared to the competition:
    • Vendor Onboarding: differentiated
    • Vendor Assessment & Evidence Collection: very differentiated
    • Vendor Evidence Review & Analysis: very differentiated
    • Vendor Remediation & Recommendations: very differentiated
    • Program & Actionable Reporting: highly differentiated
  • They are looking to grow the number of vendors they assess in the next year by 1-10%.

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 Research

What were your primary vendor risk assessment pain points before working with Prevalent?

Complex, manual assessment processes (e.g., using spreadsheets)
68%
Too much time spent manually onboarding new vendors
56%
Too much time spent scouring through disconnected sources of information to make good risk-based vendor selection decisions
53%
Lack of visibility into the baseline risks with a new vendor
41%
No real-time insight into vendor cyber, reputational and/or financial risks
38%
Lack of insight into vendor success (e.g., measuring whether they live up to their contractual commitments)
6%
No defined vendor offboarding process
3%


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About Prevalent

Prevalent is helping global organizations manage and monitor the security threats and risks associated with third and fourth-party vendors.

  Prevalent Website