Managing third-party risk is imperative for every business that uses a computer for any part of the job. Since many businesses depend on several suppliers and partners, businesses are exposed to threats that might affect their security, compliance, and general operations.
Overcoming this obstacle calls for a comprehensive strategy that blends modern technology with expert insights.
The Growing Importance of Third-Party Risk Management
Leading provider of third-party risk management (TPRM) solutions Prevalent, Inc. has partnered with cybersecurity management consulting firm TBDCyber to provide a powerful solution for businesses seeking to fortify their TPRM initiatives. Intending to give companies more of an efficient and scalable method of managing third-party risks, the strategic alliance combines TBDCyber’s vast experience in cybersecurity advising with Prevalent’s top-tier TPRM platform.
A Strategic Partnership to Strengthen TPRM Programs
Prevalent and TBDCyber’s partnership provides a comprehensive solution that aims to increase corporate resilience against external attacks, optimize compliance, and improve risk visibility. Through the integration of Prevalent’s modern technology with TBDCyber’s practical advising services, companies may more effectively recognize, evaluate, and reduce the risks associated with their vendors and partners.
The advantages of this collaboration are outlined by Founding Partner Ernie Anderson, who says, “By combining Prevalent’s top-notch risk assessment products with our cybersecurity expertise, we can offer our clients better protection and peace of mind, keeping their digital environments safe from potential threats.”
Key Services and Benefits of the Collaboration
As part of this collaboration, TBDCyber’s job is to support customers in the development and maturation of their programs by meeting them where they are in their TPRM journey. Among the services provided are:
- Program Assessment: Assessing the effectiveness of the present TPRM initiatives and offering practical suggestions for enhancement
- Program Design or Redesign: Tailoring TPRM initiatives to certain customer requirements
- Program Implementation: For best results, match the Prevalent Platform with the recently created program design
- Streamlining the procedure for obtaining and evaluating vendor data through the automation of vendor data collection
- Third-Party Risk as a Service: Skillfully and economically overseeing every facet of a TPRM program
Prevalent’s Vice President of Strategic Alliances and Corporate Business Development Brett Whiteman spoke on the partnership, saying, “This partnership will enable our joint customers with a world-class third-party risk management program that combines years of TBDCyber expertise and the leading TPRM solution in the marketplace.” Whiteman was very optimistic about the partnership, continuing, “With Prevalent and TBDCyber, our clients will see faster ROI and a more efficient and scalable TPRM program.”
Continuous Improvement
In addition to providing basic services, Prevalent and TBDCyber’s relationship is centered on the TPRM program adaptation and ongoing improvement. The tactics and resources employed to control third-party risks must also change along with the threat landscape. Prevalent’s platform is flexible, enabling companies to expand and modify their TPRM initiatives as necessary.
About Prevalent
Prevalent is a leading supplier of TPRM solutions, and they are committed to helping businesses identify, evaluate, and reduce risks associated with third parties. Prevalent uses a versatile, hybrid approach to create TPRM solutions that are customized to each client’s specific needs by mixing modern technology with knowledgeable services.
About TBDCyber
TBDCyber is a cybersecurity management consulting firm that specializes in providing advice services to businesses of all sizes, whether it is a Fortune 100 or a small to medium-sized business. TBDCyber provides professional advice in the areas of Governance, Risk & Compliance, Data Security, Security Architecture, and Cyber Resilience, with an emphasis on managing the intricacies of contemporary threats.
