Prevalent Expands Industry-Leading Third-Party Risk Management Platform to Further Increase Automation and Productivity

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Automated document analysis and custom dashboards simplify evidence review and vendor management

PHOENIX, August 4, 2022 /PRNewswire/ — Prevalent, Inc.the company that simplifies third-party risk management (TPRM), today announced the latest version of its Third-party risk management platform. Version 3.28 introduces automated document analysis and custom dashboards to speed up and simplify evidence review and vendor management across the third-party lifecycle.

“According to our 2022 Third Party Risk Management Studymore than 45% of organizations have experienced a third-party incident in the past year,” said Alastair Parrsenior vice president of global products and services for Prevalent, Inc. “As companies continue to rely on manual methods to assess their vendors and suppliers, it’s nearly impossible for them to control third-party risk. With our latest platform release, we continue to automate manual processes and provide organizations with the visibility required to combat today’s threats throughout the third-party lifecycle.”

The Popular third-party risk management platform is a SaaS solution that enables enterprises to automate the critical tasks needed to integrate, assess, manage, continuously monitor and remediate third-party security, privacy, compliance, operations and procurement risks at every stage of the process. supplier life cycle. Highlights of the new version include:

Automated document analysis saves time and improves evidence review accuracy

Documents and other artifacts are often uploaded as evidence when answering assessment questions, requiring third-party risk assessors to spend significant time manually reviewing documents to confirm their adequacy. These manual processes greatly increase the risk of missing important evidence and affect the visible audit trails of review processes.

The new version of Prevalent introduces automated document analysis, a method based on natural language processing (NLP) and machine learning (ML) to confirm whether a document contains the material and references necessary to answer a question without manual validation or review. Automated document analysis capability includes predefined profiles selected to support analysis of evidence in the Prevalent Compliance Framework (PCF) questionnaire, sets of common security policy documents, SOC2 artifact reviews, as well as as the ability to create custom document profiles.

Custom Dashboards Create a custom launch pad for TPRM activities

Each stakeholder has their own unique tasks to perform in a TPRM solution. Unlike most of today’s rigid one-size-fits-all tools where stakeholders only have one view of the vendor, Prevalent provides custom dashboards allowing users to define a unique dashboard at all times. using customizable widgets for calendars, scheduling, tasks and requirements. The My Dashboard enhancement allows users to tailor the homepage of the prevailing platform to a single view that meets their personal needs and improves their productivity.

For more information, please read At Alastair Parr Blog Where request a demo to find out how Prevalent can help simplify third-party risk analysis and review at every stage of the supplier lifecycle.

About prevalence

Prevalent simplifies third party risk management (TPRM). Companies use our software and services to eliminate security and compliance risks that arise from working with vendors and throughout the third-party risk management lifecycle. Our customers benefit from a flexible and hybrid approach to TPRM, where they not only get solutions tailored to their needs, but also realize a rapid return on investment. No matter where they start, we help our clients stop the pain, make informed decisions, and adapt and mature their TPRM programs over time.

Media Contact
Angelique FaulSilver Jacket Communications, 513-633-0897, [email protected]

SOURCE Prevalent, Inc.

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