Mitratech, a global leader in compliance technology for legal, risk, and HR teams, has announced a major expansion of its enterprise risk management platform, marked by significant technological advancements and the acquisitions of Preparis and Prevalent. Preparis specializes in continuity planning and incident response, while Prevalent excels in unified third-party risk management (TPRM). These developments come as organizations face mounting supply chain disruptions and increasingly interconnected risks, driving the need for enhanced cross-functional visibility and AI-powered risk solutions.
Michael Rasmussen, Founder of GRC 20/20 Research, emphasized the importance of holistic risk management in today’s complex environment: “The cascading effects of interconnected risks demand solutions that transcend siloed approaches. Mitratech’s integrated platform, blending AI-enabled risk assessment with continuity planning and TPRM, empowers businesses with essential visibility and resilience.”
In 2024, Mitratech introduced several key enhancements to its risk management platform, including:
- Anonymous hotline reporting for transparent whistleblowing and compliance.
- Generative AI-based evidence summarization for streamlined risk analysis.
- Advanced document mapping and sentiment analysis to improve decision-making.
These innovations, combined with strategic acquisitions, position Mitratech as an industry leader. The company has received multiple accolades, including recognition as a three-time QKS Group SPARK™ Matrix GRC Market Leader and five Telly Awards for eLearning and compliance training excellence. Additionally, its 2024 State of Ethics Reporting Hotlines Research Report garnered positive industry feedback.
The integration of Preparis and Prevalent strengthens Mitratech’s platform with complementary capabilities:
- Preparis enhances business continuity and emergency response, equipping organizations to respond effectively to crises.
- Prevalent bolsters third-party risk management, addressing supply chain vulnerabilities with tailored, AI-driven solutions.
- These additions align seamlessly with Mitratech’s mission to provide a unified, automated risk and compliance platform, delivering actionable insights and fostering resilience in an unpredictable market.
Mike Williams, CEO of Mitratech, underscored the company’s commitment to empowering businesses with user-friendly tools for navigating complex risk landscapes: “By integrating Preparis and Prevalent, we’re enabling organizations to manage crisis and vendor networks with greater simplicity and effectiveness. Our modern platform now offers everything businesses need to succeed, all in one place.”
Mitratech’s investments and strategic growth reflect its dedication to helping organizations adapt to evolving risks, ensuring a proactive and resilient approach to enterprise risk and compliance management.