Detailed Comparison – Beaconer Vs. Prevalent
Go through the following table for a detailed comparison between Prevalent and Beaconer’s third party risk management services. We’ll check out several important categories.
| Category |
Beaconer |
Prevalent |
| Services |
- Automated risk assessment
- Risk dashboard
- Regulatory compliance management
- Continuous cyber posture monitoring
- Vendor lifecycle management
- Tailored assessments
- Actionable risk insights
- Integrations capabilities
|
- Vendor onboarding and registration
- Automated risk monitoring and assessment
- Compliance management
- Risk mitigation strategies
- Incident and contract management
- Customized dashboard and reporting
- Document management and audit trails
- Risk scoring and analytics
|
| Pricing |
It offers managed third party risk service that includes both resources as well as SaaS solutions. Beaconer is more than 70% cost-effective than other TPRM tools. |
Public pricing information is not available and the price is customized depending on different factors like the organization’s size and the number of vendors needed to manage. |
| Ease of Use |
You can use the simple pre-assessment functionality to submit a vendor assessment request. The tool uses AI to gather requests and data from the information hub for quick risk assessment |
You get a 360-degree insight into your third party risks with Prevalent’s AI-enabled risk assessment and monitoring. You can easily use solutions for both supply chain and vendor risk management. |
| Risk Assessment & Evaluation |
Its detailed risk scoring system evaluates vendors based on financial health, operational risks, compliance, and cybersecurity. |
It uses automation for risk assessment which reduces manual efforts and improves accuracy. |
| Integration Capabilities |
Beaconer can integrate with several enterprise systems like CRMs, ERPs, and other business applications. |
Prevalent supports robust API integrations, allowing seamless connectivity with existing IT infrastructure and third party systems. |
| Risk Monitoring & Response |
It offers customizable alerts based on predefined risk thresholds, ensuring that users are notified of significant changes. Includes tools for tracking and managing risk-related incidents, with features for documenting and resolving issues. |
It excels in continuous monitoring of third party risks, providing real-time updates and alerts. Features advanced incident response capabilities, including automated workflows and escalation procedures. |
| Compliance & Data Security |
Beaconer supports tracking compliance with various regulations and standards, such as GDPR, HIPAA, and SOC 2. |
Offers comprehensive tools for managing compliance with a wide range of regulatory requirements. |
What Sets Beaconer Apart as the Top Third Party Risk Management Solution?
Beaconer minimizes business disruptions by providing thorough results in 1-6 days, ten times faster than typical approaches. It guarantees outstanding client experiences at a cost that is 70% lower and remediation that is five times faster. While most other TPRM software are industry-specific, this program offers comprehensive TPRM solutions for a wide range of industries, including Manufacturing, Finance, Healthcare, Retail, Legal, and more.
Beaconer keeps track of and automatically starts reassessments at predefined intervals, managing the entire process of suppliers’ periodic reassessments on your behalf with a team of subject matter experts. Organizations receive a personalized vendor evaluation report in 1–6 days. Because of this, Beaconer is one of the best TRPM software out there.
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Conclusion
Organizations get to analyze, mitigate, and manage third party risks more effectively by using a third party risk management platform, which provides complete visibility, automation, and continuous monitoring capabilities. Both Beaconer and Prevalent are popular names in the industry, but Beaconer is the better choice for you.
It offers detailed, customizable risk assessments with a user-friendly interface. Beaconer’s well-suited for organizations that require in-depth risk analysis and have the capacity for manual data management. Also, it offers real-time risk updates and extensive integration options for organizations that prioritize automation, continuous monitoring, and advanced analytics. Choose Beaconer for comprehensive third party risk management solutions.
