Third-party risk management software and services provider Prevalent announced today that it has enhanced its Platform Essentials third-party risk assessment solution, adding capabilities enabling organizations to perform ESG assessments for their entire vendor population, and to determine if a ransomware vulnerability affects their supply chain.
Prevalent’s solutions aim to enable companies to eliminate risks including the security and compliance exposures that come from working with vendors, suppliers and other third parties. Features included in its Platform Essentials SaaS solution include topical assessments to determine ransomware risk and ESG policy adherence with standardized assessment templates, document management supporting profiling and tiering, ESG and ransomware assessment answers, ESG scores from 12,000+ publicly-listed entities, and risk reporting showing inherent and residual risk, ESG risk, ransomware risk.
Alastair Parr, Senior Vice President of Global Products and Risk for Prevalent, said:
“Third-party risk management professionals don’t have to look far to read about two of the most prominent risks facing their organizations today – ransomware and environmental, social and governance (ESG). Although different, each risk can result in significant business disruption or reputational damage if not properly managed. Once it became evident that these threats could affect organizations of all sizes, we quickly dedicated resources to enhance Platform Essentials, ensuring our customers could proactively protect against these risks while informing tiering decisions.”