Question: I'm looking for a tool that simplifies vendor risk assessments and provides actionable insights to inform business decisions.

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Prevalent

If you're looking for a tool to streamline vendor risk assessments and provide useful insights, check out Prevalent. It uses AI and automation to evaluate and manage security risks from vendors, suppliers and other third parties. It's got a broad range of features, including vendor risk assessment, monitoring, compliance and AI-based tools. It's used by financial services, healthcare, insurance and retail customers, so it should be adaptable to your business needs.

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Whistic

Another good option is Whistic, which automates vendor assessments and tries to make the process easier with its AI-powered assessment platform. Whistic includes a centralized Trust Center for security and compliance information, a Network Exchange to facilitate information sharing, and support for more than 40 questionnaires and frameworks. The company says it can help cut the risk of data breaches, speed up sales cycles and free up InfoSec staff, so it's a good option for companies that want to overhaul their third-party risk assessment process.

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ProcessUnity

ProcessUnity is a mature platform for third-party and cybersecurity risk management. It automates the entire risk management process from onboarding to continuous monitoring, with customizable workflows, a Universal Data Core for consolidating risk data and AI tools for third-party risk management. It can handle vendor onboarding, assessments and monitoring, and has been named a Leader in the Forrester Wave for Third-Party Risk Management Platforms.

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Panorays

For a more integrated approach to third-party cyber risk management, Panorays offers a platform that assigns real-time Risk DNA ratings to each third-party connection. It offers continuous supply chain detection and monitoring, actionable threat alerts and vendor self-guiding plans. Panorays helps companies improve their third-party risk management and overall cybersecurity posture with its AI-powered risk assessments and compliance templates.

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