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Ready to ditch spreadsheets once and for all and automate your third-party risk management program? Eliminate the security and compliance exposures that come from working with vendors, suppliers and other third parties faster and with more risk intelligence than spreadsheets or other manual processes. With Mitratech Prevalent, customers can make more informed risk-based decisions about their third parties and can adapt and grow their TPRM programs over time.
Provider
Mitratech
Located In
United States
Foundation
1998
Open API
Unverified
Deployment
Cloud, SaaS, Web-Based
Training
Documentation, Live Online, In Person, Webinars
Support
Chat
Companies across all industries choose Mitratech Prevalent when they are ready to ditch spreadsheets once and for all, and automate their third-party risk management program.
Content Source: Prevalent
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A product’s price can vary greatly based on features needed, support or training required, and customization requests. Some vendors want a chance to talk to you before being ruled out for pricing. When you find a product that fits your needs, you should talk to the vendor to figure out what they can offer.
Prevalent Reviews
Pros
Very good experience, rarely have I worked with an organisation which is very customer focussed with a willingness to help where needed.
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.
Continual support and guidance from our key contacts has been key in improving my own knowledge of how best to utilise the system and all queries are answered within a timely and useful manner.
We have been customers since the very beginning and the team they have working for them is awesome and very customer success focused.
Cons
Report functionalities are limited in the portal.
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.
Lack of in depth reporting options, however this is in the pipeline.
If you do not have experience with vendor risk management, it could be overwhelming.
"Excellent supplier risk management tool for managing all risk types"
Overall: Very good experience, rarely have I worked with an organisation which is very customer focussed with a willingness to help where needed. Overall the tool does exactly what we want it to do, identify and track supplier risks, but all in one place and not split across multiple tools
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
"Prevalent Third Party Risk Management Platform - Great tool to assess vendor risk profiles"
Overall: Overall, using this service has been a great experience. It helped us automate the administration of the vendors that allowed us to focus on assessments. While Reporting functionalities can still be improved, Prevalent is constantly releasing updates that addresses previously identified system limitations. And I believe that some of the areas that can be improved would eventually be addressed in due time. Additionally, the Prevalent team that we've worked with had been very dedicated and supportive throughout this process.
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.
"Great options for Questionnaire for 3rd Party Vendors"
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.
"Excellent Risk Management Solution"
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.
"Easy GRC Platform "
Overall: The main business problems being resolved are the ability to regularly and consistently assess supplier security with minimal overhead. The workflows in the system have enhanced this through automation and the ease in which assessments can be sent out and tracked has helped. Continual support and guidance from our key contacts has been key in improving my own knowledge of how best to utilise the system and all queries are answered within a timely and useful manner.
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.
