Third-Party Risk Management Leader Unveils Industry's First Third-Party Incident Response Service

Unique offering accelerates discovery and remediation of critical third-party security incidents

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Apr 21, 2021, 09:00 ET

PHOENIX., April 21, 2021 /PRNewswire/ -- Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today unveiled the industry's first Third-Party Incident Response Service. As supply chain breaches have continued to dominate the news, many organizations still struggle to get timely notifications from vendors. The Prevalent Third-Party Incident Response Service delivers a solution that automates discovery, provides a contextual scoring model and offers built-in remediation guidance to accelerate Time-to-Remediation.

Delays between a vendor incident and a company's risk identification, analysis and mitigation leave organizations exposed to operational disruptions, fines and customer losses. However, manual event notification processes only slow risk assessment and remediation at a time when speed is essential. The Prevalent Third-Party Incident Response Service enables organizations to rapidly identify and mitigate the impact of supply chain breaches by:

Automating the collection and analysis of vendor incident information using a contextual questionnaire, empowering organizations to focus on risk mitigation instead of data collection
Enabling third parties to proactively submit event notifications and updates, speeding incident discovery
Providing pre-built reporting to help security teams be better prepared for board and executive questions regarding the impact of supply chain incidents
Demonstrating proof of a third-party breach response plan to satisfy auditors and regulators

"Prevalent's goal is to enhance third-party risk management across every stage of the vendor lifecycle – from onboarding and ongoing management to offboarding - to minimize third-party security incidents," stated Alastair Parr, senior vice president of global products and delivery operations for Prevalent, Inc. "After working closely with our customers, specifically through the SolarWinds, Accellion and Microsoft Exchange Server breaches, we realized a need to provide companies with more automation to accelerate both Time-to-Detect and Time-to-Remediate."

The Prevalent Third-Party Incident Response Service is available in both self-service and managed service options. For more information, please visit the latest blog post.

About Prevalent

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 entire vendor risk 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.

Media Contact:
Angelique Faul, Silver Jacket Communications, 513-633-0897, [email protected]

SOURCE Prevalent, Inc.