Global Eyewear Company Third-Party Risk Management Case Study

This case study details the experience of a global eyewear company that implemented the Prevalent Third-Party Risk Management (TPRM) Platform to enhance their risk management processes following a merger in 2018. The company, formed from the merger of two large organizations, faced challenges in consolidating their vendor lists and managing risks effectively across their extensive network of over 300,000 third-party retailers. The manual TPRM program previously used was insufficient for the newly integrated organization, leading to difficulties in risk remediation and vendor assessment. By adopting Prevalent’s platform, the retailer improved their ability to conduct risk assessments, monitor vendors continuously, and remediate risks more efficiently. The case study highlights the benefits of using standardized surveys aligned with industry frameworks, which were previously lacking in their in-house assessments. The retailer plans to expand the use of Prevalent’s solution globally due to the positive outcomes experienced in the Americas region.