TechValidate Research on Prevalent

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Prevalent Case Study

Non-Profit

Introduction

This case study of a non-profit is based on an October 2019 survey of Prevalent customers by TechValidate, a 3rd-party research service. The profiled organization asked to have their name blinded to protect their confidentiality.

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“Security risk management for subcontractors has improved significantly; Prevalent has reduced manual analysis & improved visibility.”

Challenges

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

  • Top drivers for purchasing their Prevalent third-party risk management solution:
    • Compliance – reporting against specific regulatory or industry framework requirements
    • Stronger cybersecurity, to ensure that third parties do not introduce cyber risks that could negatively impact the business
    • Reduce operational burden (the process of assessing and evaluating vendors took too much time and resources)
    • Greater risk-based intelligence
  • Challenges that deploying Prevalent or 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
    • Having no centralization of TPRM functions
  • Vendor evaluated before choosing Prevalent:
    • AdaptiveGRC

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 organization achieved the following results with Prevalent:

  • The following Prevalent capabilities in terms of how differentiated they are compared to the competition:
    • 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
  • How long it took to complete an assessment:
    • Before deploying Prevalent: more than a month
    • After deploying Prevalent: 2-3 weeks
  • Saved more than 1 week per assessment on average by utilizing the Prevalent Platform.

Organization Profile

The organization 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.

Industry:
Non-profit

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 Non-Profit
Validated
  Published: Apr. 14, 2020   TVID: EF5-3D7-8C7




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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