Prevalent Launches First Partner Program, Looks for ‘Exclusive Relationships’
**Editor’s Note: Click here for a list of April’s important channel-program changes you should know.**
Prevalent, which bills itself as a third-party risk and vendor threat intelligence provider, is launching its first channel program with the intention of onboarding new partners.
The Prevalent Partner Program comprises a network of security and compliance reseller partners that can sell the company’s third-party risk services and have access to “decades of collective expertise in the third-party risk management space,” the company said.
Devin Archer, Prevalent’s director of channel sales, tells Channel Partners his company is “on a fast path for growth; our sales are doubling and accelerating year over year.” The company was founded in 2004.
“To grow effectively and this quickly, the most efficient route to market is through a strong channel program,” Archer said. “For our channel partners, we are working hard to provide a simple structure to the relationship. Key elements include our … product, a commitment to sell through the channel, high margins, associated professional services, and finally, strong opportunity registration. As we invest with the channel, our partners add a new capability to their portfolio to bring increased value to their new and existing customers.”
Warren, New Jersey-based Prevalent uses a SaaS model to serve the Global 2000. Companies can optimize the Prevalent platform to meet their regulatory needs, share assessments, and prove compliance and risk reduction to various regulatory bodies.{ad}
The program was designed to make it easy for partners to work with Prevalent, Archer said. Also, partners were asked for feedback on margins, he said.
“Relating to enablement, we wanted to turn on the pipeline before asking the partner for too much technical investment,” he said. “Our approach, on all these fronts, comes from listening to the partner community and flexing the program for success, delivering short term and then increasing value as investment continues.”
Prevalent currently has just 15 partners around the world, and is looking for “exclusive relationships with the right partners to enable continued 100 percent growth year over year for years to come,” Archer said.
“Managing third-party risk is not a new idea … but it is an idea now whose time is right,” he said. “Prior to Prevalent, the only approach for our partners was to extend the GRC (governance, risk management and compliance) with a custom ‘module’ and to throw bodies at services deployments to try to automate spreadsheets and email. Now, with our comprehensive approach to the problem, partners have a resale or MSP opportunity and can focus their services on real value-add for the customer, including program creation, execution and long-term management. These higher-level services are more valuable to the customers and more lucrative to the partners.”
“We consistently monitor the evolving needs of our customers and research the marketplace for technology partnerships that complement our efforts to provide the highest levels of service to our customers,” said Doug Close, vice president of engineering at Sayers. “Our partnership with Prevalent is a textbook example of that approach as we have seen an explosion in third-party risk requirements, and Prevalent is the premier company in that space.”
