Prevalent, a US third-party risk management (TPRM) company, has launched the latest versions of its TPRM Platform and Vendor Threat Monitor (VTM), introducing new capabilities to expand risk intelligence to include vendor financial and credit monitoring, integrate with additional cyber monitoring tools, and enrich vendor profiles to simplify vendor lifecycle management.
“Siloed information creates a huge problem within any organisation,” said Alastair Parr, senior vice president of global products for Prevalent.
“This is especially true when companies are managing third-party risk. It is extremely important that organisations have a full picture of potential vendor risk within their company. By extending and integrating more sources of vendor risk intelligence, customers now have the ability to make better informed risk decisions.
“We are excited to offer this new version of our platform and will continue to drive innovation, ensuring that Prevalent delivers the most comprehensive, easy to use TPRM solution available.”
The Prevalent TPRM Platform is a software-as-a-service (SaaS) solution that enables customers to automate the critical tasks required to manage, assess and monitor their third parties across the entire vendor lifecycle.
New feature highlights include continuous financial and credit monitoring to enable more informed sourcing decisions; enhanced entity profile simplifies vendor lifecycle management; and BitSight integration, which extends its sources of continuous cyber risk monitoring by introducing the ability to import summary risk data from cybersecurity ratings company BitSight into the Prevalent platform.
Prevalent, Risk Management, Insurance, Reinsurance, TPRM Platform and Vendor Threat Monitor, Cyber, Alastair Parr, North America