WARREN, N.J., Jan. 19, 2016 /PRNewswire/ -- Prevalent today announced the launch of the Legal Vendor Network (LVN) – a membership-based program designed specifically for law firms to assess and monitor third-party vendors for security and data risk. In addition to other benefits, members gain access to a vendor risk platform for the standardization of assessment, a centralized repository for access to previously provided vendor assessment information across the network of participating law firms, and continuous threat intelligence monitoring of their vendors.
The LVN utilizes Prevalent's Vendor Risk Manager (VRM) to standardize, manage, and automate the vendor risk assessment process and evaluate vendors based on their importance or potential risk to the firm. The LVN also includes Prevalent's Vendor Threat Monitor (VTM) to continuously monitor 24/7 key vendor relationship risk areas, including: Data Risk, Operational Risk, Financial Risk, Brand Risk, Regulatory Risk and Geographic Risk.
"I am really excited about the launch of this network and the many benefits it provides to participating law firms," said Jonathan Dambrot, CEO of Prevalent Inc. "The legal community has been looking for an industry-wide solution to help reduce risk and cost associated with third-parties. Members will clearly see benefits from being able to better align risk, cost, and client demands."
"This network is a great way for law firms to help build better security maturity and visibility across our industry with the goal to reduce risk, reduce cost, and improve our ability to support our clients," said Peter E. Lesser, Director of Global Technology at Skadden Arps.
Law firms can visit http://www.prevalent.net/legal-vendor-network/ to find out more about the program and to sign up for membership.
Prevalent is a vendor risk management and cyber threat intelligence analytics innovator with a reputation for developing cutting-edge technologies and highly-automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with 3rd & 4th party vendors.
SOURCE Prevalent Inc.