Prevalent

Fully featured, easy to use vendor risk management system

Kommentare: The Prevalent platform e-enables and automates key elements of the supply chain risk assessment and risk management process to ease workload and improve responses for the contract manager, and make it easier for suppliers to provide the risk management information we need.

Vorteile:

The platform is well laid out, intuitive to use, and provides quite a lot of information quickly, especially while reviews are in progress, showing useful information on survey completion, etc. It is also very easy to add and manage users and new suppliers which helps greatly with on-boarding.

Nachteile:

The only downside is when populating a complex survey schedule using multiple questionnaires, they each need to be added individually rather than in bulk, even when they all populate the same risk register. This could be improved.

Excellent supplier risk management tool for managing all risk types

Kommentare: Very good experience, rarely have I worked with an organisation which is very customer focussed with a willingness to help where needed. Overall the tool does exactly what we want it to do, identify and track supplier risks, but all in one place and not split across multiple tools

Vorteile:

The GUI is very clean and easy to use across our business, risk owners can log in for free which makes it easier when collaborating within the tool and articulating the risks in real-time Very easy to use, importing suppliers and updating can be done within excel, making it really easy for data integrity checks

Nachteile:

Lack of integration options for the moment

In Betracht gezogene Alternativen: ServiceNow und SureCloud

Warum Prevalent gewählt wurde: Tool wasn't implemented correctly, hard for users to navigate, quite costly for what it was

Gründe für den Wechsel zu Prevalent: Cost and ease of use, being able to make basic changes quickly

Great options for Questionnaire for 3rd Party Vendors

Vorteile:

I like the variety of questionnaires offered in their software as well as the ability to customize what you send to each vendor based on the type of service they will provide. I also like how you can use their automatic risk scores or modify or create your own.

Nachteile:

The dashboard could be improved to show a general overview of the vendors at least at a high level. The reports could be better to only include active vendors versus disabled vendors.

Effortless and Continuous Monitoring of Third Parties

Kommentare: Prevalent is providing continuous monitoring of our third parties from a business, financial, and cyber perspective, which helps us comply with NY DFS regulations and provide another layer of protection against risks.

Vorteile:

The platform is easy to navigate and intuitive. The ability to access monitoring data and reports is quick and easy. Highly value the ability to quickly view business, financial and cyber monitoring data on our vendors, and spot any risks that are scored high-risk. Appreciate that the monitoring data is clear, current, and relevant.

Nachteile:

Would like to see more details regarding identified risks within the cyber monitoring findings (but, I believe Prevalent is already working on this with their external party). The platform is clean looking, but it could use a cosmetic facelift, so it's more eye-appealing. Would appreciate the ability to do a quick peek on a vendor during an RFP process (without buying a full year license).

Excellent Risk Management Solution

Vorteile:

Prevalent have been a pleasure to work with form the moment we engaged them. The tech has delivered exactly what was promised and is very simple to use. We have all of our third parties out of Excel and into a system providing MI to the team and business. Using entities allows us to map our service ecosystem to a granular level including data mapping for GDPR. The digital risk register and exports allows us to quickly navigate what's important, focus in the right areas and report to the exec. We have reduced our operating costs especially on 2nd and 3rd tier suppliers. It's brought a level of consistency across all third parties and enables us to react and respond to industry threats rapidly. We understand our Supply Chain in great detail which simply wasn't possible before using the platform.

Nachteile:

Being a SaaS product, what we want as the next feature may not be coming until much further down the roadmap.

Prevalent Third Party Risk Management Platform - Great tool to assess vendor risk profiles

Kommentare: Overall, using this service has been a great experience. It helped us automate the administration of the vendors that allowed us to focus on assessments. While Reporting functionalities can still be improved, Prevalent is constantly releasing updates that addresses previously identified system limitations. And I believe that some of the areas that can be improved would eventually be addressed in due time. Additionally, the Prevalent team that we've worked with had been very dedicated and supportive throughout this process.

Vorteile:

Prevalent portal is a great vendor management tool that automates the risk identification process and allows customization on survey questions and risks which is usually not available in other platforms.

Nachteile:

Report functionalities are limited in the portal. There is not enough features in the portal to allow the the creation of reports that utilizes the information collected in the portal.

Easy GRC Platform

Kommentare: The main business problems being resolved are the ability to regularly and consistently assess supplier security with minimal overhead. The workflows in the system have enhanced this through automation and the ease in which assessments can be sent out and tracked has helped. Continual support and guidance from our key contacts has been key in improving my own knowledge of how best to utilise the system and all queries are answered within a timely and useful manner.

Vorteile:

The prevalent platform is easy to use with ever growing functionality. Some of the key benefits include enhanced monitoring capabilities, ease of onboarding new users and entities as well as ease of designing suitable surveys . The prevalent platform has enhanced our supplier management program and made it easier to share, track and report on supplier risks and give consistent updates to management.

Nachteile:

I have encountered few issues when using this software. As it develops the issues I had at the beginning have been resolved. One challenge is getting the responders to understand how best to answer survey and discussion points however guidance has been provided on this by the team internally.

3GRC & Prevalent have been excellent partners

Kommentare: 3GRC & Prevalent have been excellent partners with a very dedicated team who help us with our cyber risk assessments.

Vorteile:

The platform was easy to implement but I would love to see them improve on the user interface to make it more intuitive. This is our secound year running through the process and we plan to continuing to grow our engagement.

Nachteile:

I would love to see them improve on the user interface to make it more intuitive.

A robust third party vendor risk management platform for all size organizations

Vorteile:

Plenty of standard questionnaires and fully customizable. Risk ratings are fully customizable. Customer support is great.

Nachteile:

A bit of a learning curve to get the hang of the platform and they user interface could be improved.

Great vendor risk management solution

Vorteile:

The service and support have been unmatched by other vendors. They truly care about the product and your experience with it. They stay engaged after the sale.

Nachteile:

The user interface was good but could be more user friendly.

Prevalent - Excellent Vendor Risk Management Even for Beginners

Kommentare: We are using the product to increase our compliance with our compliance mandates. We are also using the risk results to help evaluate vendors, as well as increase our vendor's security, and reduce our risk from third parties to both ourselves and our clients.

Vorteile:

The best feature for us was the pre-defined survey templates for multiple categories, as well as the managed assessments and risk remediation. The continuous monitoring of our vendors helps us and our regulators to have confidence in their responses to our surveys.

Nachteile:

Because the product is so customizable, the initial onboarding process for us was overwhelming, as we were new to the Vendor Risk Management process. However, I feel that all the work we put in on the front end will really pay off as we continue to scale out our use of the product.

Highyly recommend Prevalent as a vendor risk assessment solution

Kommentare: Prevalent is helping facilitate or vendor risk program. We use them to assess, track and monitor hundreds of vendors. This is our first year suing the tool, nut we plan on opening op more too the rest of our business throughout the entire due diligence process.

Vorteile:

The automation is really easy for reaching out to Vendors. Leveraging other affiliates you work with to obtain their surveys to cut down on redundancy, reporting is simple and risk scores are easy to understand and modify as needed.

Nachteile:

The platform itself is pretty well laid out, but could have a better interface.

Effective Monitoring of Third Parties

Kommentare: Overall, my team and organization has been extremely pleased with our experience with Prevalent. Prevalent has been communicative, effective and efficient in monitoring our high risk third party vendors.

Vorteile:

How easy it is to maneuver the platform! The profile has a clean and organized look. The workflows are straightforward to navigate and user-friendly. It is quick to access the data recorded by Prevalent, which is presented in a clear and concise manner. Prevalent has exceptional customer service and support. Our representative has been communicative and quick to respond to any request or question my team has had.

Nachteile:

My team would appreciate the ability to customize the platform, choose the color scheme, etc. I believe our representative mentioned this ability is a part of an add on that is available for purchase. We would also like the ability to do a 'quick' review of a potential vendor, rather than having to devote a full license to a vendor we might decide not to pursue a relationship with.

Working with Prevalent

Kommentare: So far they have been available to answer questions and offer assistance.

Vorteile:

its easy to set up third party vendors and send out surveys and keep track of completed risk assesments

Nachteile:

The dashboard navigation requires some getting used to could be a little confusing at first.

Prevalent

Kommentare: We can manage the Third Parties information easily and centralized in one platform.

Vorteile:

Centralized Management for vendor information and dashboards

Nachteile:

Some exporting capabilities of the data and questionnaire

Great Platform

Kommentare: Great experience so far. The product does what I need without being too bulky. Also, their customer service has been beyond exellent.

Vorteile:

It is very intuitive and makes vendor management much more, "manageable".

Nachteile:

There are some reporting features that I wish they would implement.

Vendor Assessments

Kommentare: Great experience with the on boarding team, account managers and support. Extra mile is by default to make things work for you.

Vorteile:

Compliance Score, Configurable Assessments. Overall Risk Posture of vendors

Nachteile:

Lack of in depth reporting options, however this is in the pipeline

Review of Prevalent for Legal

Kommentare: Overall, I've had a positive experience with Prevalent and the whole vendor risk management process from the beginning. We have been customers since the very beginning and the team they have working for them is awesome and very customer success focused.

Vorteile:

It's easy to use and has several features available to the end users to implement a robust vender risk management program.

Nachteile:

If you do not have experience with vendor risk management, it could be overwhelming.