Prevalent

Pros: 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.

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

Pros: 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

Cons: Lack of integration options for the moment

Pros: 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.

Cons: 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.

Pros: 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.

Cons: 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.

Pros: 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.

Cons: 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.

Pros: 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.

Cons: 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).

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

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

Pros: 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.

Cons: 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.

Pros: 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.

Cons: 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.

Pros: 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.

Cons: 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.

Pros: Compliance Score, Configurable Assessments. Overall Risk Posture of vendors

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

Pros: Centralized Management for vendor information and dashboards

Cons: Some exporting capabilities of the data and questionnaire

Pros: 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.

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

Pros: 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.

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

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

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

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

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

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

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