PHOENIX, Sept. 2, 2021 /PRNewswire/ — Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced it has been named a Leader in the 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools. This is the second straight year Prevalent has been recognized as a Leader in the Magic Quadrant.
The Prevalent Third-Party Risk Management Platform is a SaaS solution that enables companies to automate the critical tasks required to assess, manage, continuously monitor and remediate third-party security, privacy, compliance and procurement-related risks across every stage of the vendor lifecycle.
Prevalent believes its Magic Quadrant recognition validates its key differentiators including:
- The most complete solution: Prevalent delivers unmatched flexibility and expertise by equipping you with a platform that automates vendor assessments, the largest network of completed, standardized vendor surveys and intelligence for accelerating risk identification and management and the ability to outsource your vendor risk management activities to our team of experts, which is supported by a fully integrated continuous monitoring solution to complement vendor assessments.
- Proven return on investment (ROI): Prevalent customers have reported identifying risks 44% faster, reducing manual work by 50%, and increasing productivity by a factor of 3 by leveraging our solutions.
- Comprehensive use case coverage: Prevalent not only assesses vendor cybersecurity and data privacy risks, but also addresses non-cybersecurity concerns such as ESG, anti-bribery, modern slavery, supply chain resilience and more, integrating findings into a single solution for comprehensive risk review and analysis.
“We believe being positioned in the Leaders quadrant, due to our Ability to Execute and Completeness of Vision, further validates the strength of our vendor risk management approach,” said Kevin Hickey, CEO of Prevalent. “To us, being named a Leader in the Magic Quadrant for IT Vendor Risk Management Tools clearly illustrates not only the hard work of our team, but also the dedication to delivering innovative solutions to our customers. With constant third-party data breaches, supply chain disruptions and new regulatory requirements to meet, it’s more important than ever for companies to implement a vendor risk management program that combines execution against today’s threats and a strong vision for the future. Prevalent delivers the intelligence and programmatic process to help companies mitigate today’s risks.”
Gartner Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Magic Quadrant for IT Vendor Risk Management Tools, Joanne Spencer, Edward Weinstein and Luke Ellery, August 2021
Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved
Prevalent takes the pain out of third-party risk management (TPRM). Companies use our software and services to eliminate the security and compliance exposures that come from working with vendors, suppliers and other third parties across the vendor risk management lifecycle. Our customers benefit from a flexible, hybrid approach to TPRM, where they not only gain solutions tailored to their needs, but also realize a rapid return on investment. Regardless of where they start, we help our customers stop the pain, make informed decisions, and adapt and mature their TPRM programs over time.
Silver Jacket Communications
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SOURCE Prevalent, Inc.