TechValidate Research on Prevalent


Prevalent Case Study

Large Enterprise Media & Entertainment Company

Introduction

This case study of a large enterprise media & entertainment 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.

Challenges

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

  • Top driver 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
    • A lack of insights to make risk-based decisions
    • An inability to share completed assessment content and supporting evidence to more quickly identify risks and vulnerabilities
  • Vendors evaluated before choosing Prevalent:
    • BitSight
    • SecurityScorecard

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
    • Centralized document/evidence management: differentiated
    • Create tasks, flags, and risks based on results of assessment responses in risk register: differentiated
    • Identify key controls and apply reporting to the most critical relevant risks: differentiated
    • In-solution communication with suppliers on remediating risks: differentiated
    • scan third-party networks and apply business intelligence to provide and “outside-in” weighted score of 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
    • Identify and visualize relationships between entities to demonstrate dependencies and flows of information: differentiated
    • User dashboard of tasks, schedules, risk activities, survey completion status, agreements, and documents: differentiated
  • Saved 1 day per assessment on average by utilizing the Prevalent Platform.




About This Data

This data was sourced directly from verified users of Prevalent by TechValidate.

TechValidate verifies the identity and organizational affiliation of all participants that contribute to published research data. When research participants so desire, we also guarantee their anonymity so that they may share information honestly and freely.


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