Third-Party Risk Management Leader Closes First Half of 2020 With Record-Setting Growth and Retention Amid Challenging Environment, Poised for Record-Breaking Year
PHOENIX, Aug. 5, 2020 /PRNewswire/ -- Prevalent, Inc., the company that takes the pain out of third-party risk management (TPRM), today announced a strong 2020 first half with 33% worldwide new product sales growth and strong expansion in existing customer accounts, setting the stage for an outstanding 2020.
During the first half of 2020, Prevalent focused on delivering products and expertise to help companies navigate business challenges related to COVID-19. The company quickly shifted internal resources, ensuring organizations could easily adopt automated TPRM solutions or mature existing programs to minimize risks and strengthen supply chain resilience.
"We ended 2019 with our strongest quarter to date and were excited to see what 2020 would bring," stated Kevin Hickey, CEO of Prevalent. "Of course no one could predict what would happen after our first glimpse of COVID-19, however it quickly became clear that the pandemic was going to negatively affect suppliers and vendors. Not only were there supply chain disruptions, but the risks mounted as malicious activity increased. I'm proud of our team for the quick turnaround in providing new offerings to our customers, mitigating these risks. I'm looking forward to exceeding customer expectations and driving innovation for the remainder of this year."
Prevalent's H1 2020 highlights include:
Minimizing Business Resilience Challenges Related to COVID-19
Delivering Easy to Adopt and Manage TPRM Solutions for Companies of All Sizes
Released product updates to automate, accelerate and bring greater intelligence and insights to TPRM:
Providing Expert Insights to Help Organizations Grow and Mature TPRM
"We are now able to properly conduct risk assessments, both internal and external, leveraging this fantastic platform," stated Eric Valdes, vice president of technology and security at First Protocol, Inc. "[Prevalent] gives us a level of confidence previously lacking in vendor onboarding and contracting, as well as valuable insights into how are data is being collected, processed and stored at our key providers."
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SOURCE Prevalent, Inc.
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