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Prevalent Case Study

Large Enterprise Retail Company

Introduction

This case study of a large enterprise retail 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:
    • 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
    • Having no centralization of TPRM functions
    • An inconsistent methodology for vendor risk management
  • Vendors evaluated before choosing Prevalent:
    • OneTrust
    • Riskonnect

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 0-10%.

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
    • 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
    • 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

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:
Retail

About Prevalent

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

Learn More:

Prevalent

Source: TechValidate survey of a Large Enterprise Retail Company
Validated
  Published: Apr. 14, 2020   TVID: AAB-C5B-776




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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