Prevalent Crown Equipment Corporation

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Prevalent Case Study

Crown Equipment Corporation

Introduction

This case study of Crown Equipment Corporation is based on a June 2021 survey of Prevalent customers by TechValidate, a 3rd-party research service.

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

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)

Use Case

Currently assessing their vendors for the following:

Cybersecurity

Results

Prevalent’s level of importance within Crown Equipment Corporation lifecycle stages:

Essential to sourcing and selection of vendors
Essential for intake and vendor onboarding
Essential for scoring inherent risks
Critical in assessing vendors and remediating risks
Important to continuously monitoring for vendor cybersecurity, reputational and financial risks
Very important in managing ongoing vendor performance and SLAs
Important in offboarding and termination of vendors

Strongly 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
We 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 provides a programmatic process to offboard vendors that reduces risk

TechValidate Research on Prevalent

Crown Equipment Corporation

Introduction

Challenges

Use Case

Results

Company Profile

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