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Great tool for managing third party vendor risk
What do you like best about the product?
Plenty of standard questionnaires with the ability to create new or customize existing ones, customizable risk ratings to fit your organization and solid customer support.
What do you dislike about the product?
Complex platform with a bit of a learning curve, user interface could be more intuitive.
What problems is the product solving and how is that benefiting you?
Platform helps us meet our compliance requirements and effecvtively identify, mitigate, report and monitor risk related to the use of third party vendors.
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Third Party Risk Platform with create options for vendor questionnaires
What do you like best about the product?
I think the automation of setting up surveys to send to vendors which the vendors can access to complete upon their schedule. I also like the various questionnaires that are available to send vendors based on the service they will be providing.
What do you dislike about the product?
I wish the dashboard was customizable so I could see the data I want upon logging in. I also wish the reporting was more accurate to only show active vendors versus disabled ones.
What problems is the product solving and how is that benefiting you?
Started using Prevalent in order to develop questionnaires for vendors to answer which would be tied to risk. This has helped to solve having a risk score automatically deducted from the survey versus me having to score each item myself.
Intuitive and flexible risk management platform
What do you like best about the product?
The system is intuitive and easy to navigate. Plenty of detailed information is available at a glance, including when surveys are in progress, which is very useful.
What do you dislike about the product?
For larger or more complex surveys, the need to add individual questionnaire elements one-by-one, even when they all feed into the same risk register, is slightly clunky.
What problems is the product solving and how is that benefiting you?
Supplier risk assessment and supply chain risk management, from security and business continuity to regulatory and data compliance.
On-boarding and due diligence on new suppliers and annual risk reviews of key subcontractors.
The benefits are in the automation and ease of use of the platform, compared with a cumbersome spreadsheet-based process we previously used.
On-boarding and due diligence on new suppliers and annual risk reviews of key subcontractors.
The benefits are in the automation and ease of use of the platform, compared with a cumbersome spreadsheet-based process we previously used.
Recommendations to others considering the product:
This system is good at automating your risk management and supply chain risk assessment procedures. It will work best if you know what it is that you want to assess and monitor, and what your risk appetite is.
Enhanced Vendor Assessment Program
What do you like best about the product?
The continual work that the Prevalent team do to add additional functionality and capabilities to the system. This has meant we have been able to develop and streamline our assessment process further. Work with our key contacts has been invaluable as they look to see whether there is anything that we would benefit from in the future as well as solving any issues that come up
What do you dislike about the product?
Some initial reporting challenges as well as email generation issues however quickly resolved by support
What problems is the product solving and how is that benefiting you?
Business wide the supplier management process has been limited. We have been utilising the system for onboarding and annual reviews of supplier security. As the system continues to develop we are looking to see if it can be used for any other gaps in the supplier management process. It is also being utilised for internal assessments of our own security.
Vendor Assessments
What do you like best about the product?
System assessments highly configurable. Gives oversight into third party risk and makes the process simple
What do you dislike about the product?
Reporting could be better, however Prevalent listen and this is in the roadmap
What problems is the product solving and how is that benefiting you?
Lack ov oversight with third party risk. Prevalent gives a clear way to evaluate this
Recommendations to others considering the product:
Prevalent win by listening to your requirements and working with you to achieve them
Prevalent
What do you like best about the product?
Centralized management and the dashboard views
What do you dislike about the product?
Some limited export capabilities of data
What problems is the product solving and how is that benefiting you?
Solving the management of Vendors in one centralized and informative portal. Eliminates extensive communications and the use of spreadsheets, with workflows and questionnaires.
Prevalent Platform made reaching out to, collecting and assessing vendor risk simple.
What do you like best about the product?
Platform is easy to navigate and makes reviewing assessments simple.
What do you dislike about the product?
Nothing at this point, still in our first year using the tool.
What problems is the product solving and how is that benefiting you?
Assessing Vendor risk and reporting that data out to management.
Recommendations to others considering the product:
N/A
Prevalent Review
What do you like best about the product?
The customer success team that I work with on my account. They are very helpful in keeping things on track and moving forward. They provide meaningful status reports and also reach out if necessary.
What do you dislike about the product?
Nothing that I can think of at this time.
What problems is the product solving and how is that benefiting you?
Vendor risk management collection of questionnaires, ensuring documents are provided, and being able to check the box. Benefits are that it allows me to focus on other things.
Recommendations to others considering the product:
Know your process and what you want to accomplish in advance of starting to use.
3GRC & Prevalent excellent partnerships
What do you like best about the product?
3GRC & Prevalent have been excellent partners a young and energetic support team who helped us with our cyber risk assessments. The platform was easy and quick to implement.
What do you dislike about the product?
I would love to see them improve on the user interface to make it more intuitive.
What problems is the product solving and how is that benefiting you?
The Prevalent Third-Party Risk Management Platform allows us to capture vendor cyber risks to be compliant with the local regulations.
Recommendations to others considering the product:
If you are a global vendor review the different regulations and work with Prevalent to come up with overlapping risks to reduce overhead.
Prevalent's diligence in customer service
What do you like best about the product?
they are there to answer questions you might have
What do you dislike about the product?
prevalent is meeting our expectations at the moment
What problems is the product solving and how is that benefiting you?
we are able to recognize all the risks associated with a third party vendor
Recommendations to others considering the product:
ask all the right questions
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