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Prevalent Case Study

Large Enterprise Professional Services Company

Introduction

This case study of a large enterprise professional services 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.

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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:
    • Compliance – reporting against specific regulatory or industry framework requirements
  • Challenge that deploying Prevalent solved for their organization:
    • A limited ability to continuously monitor vendors

Use Case

  • Regulation or industry framework they must regularly report against:
  • 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:
    • 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
  • How long it took to complete an assessment:
    • Before deploying Prevalent: more than a month
    • After deploying Prevalent: 2-3 weeks
  • Saved several days per assessment on average by utilizing the Prevalent Platform.

Company Profile

The company featured in this case study asked to have its name publicly blinded because publicly endorsing vendors is against their policies.

TechValidate stands behind the authenticity of this data.

Company Size:
Large Enterprise

Industry:
Professional Services

About Prevalent

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

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Prevalent

Source: TechValidate survey of a Large Enterprise Professional Services Company
Validated
  Published: Apr. 14, 2020   TVID: 640-E4D-FBA




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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