Venminder, a leader in third-party risk solutions, today announced that Gartner, Inc., has recognized Venminder in its 2019 Critical Capabilities for IT Vendor Risk Management Tools.
The Gartner report evaluated 16 IT vendor risk management vendors across three identified use cases with Venminder receiving a 4.02 for “VRM Solution and Vendor Risk Assessment Data”, 3.93 for “VRM Solution and Managed Support Services” and 3.92 for “VRM Solution”, out of 5.
“We are pleased with this recognition and believe that our high scores and recent placement into the November 2019 Gartner Magic Quadrant for IT Vendor Risk Management Tools validates our approach to third party risk management,” said James Hyde, CEO of Venminder. “It takes a village to stay ahead of the rigorous demands of third-party risk management. We work closely with everyone in our network, customers and vendors, to identify opportunities that are both innovative and compliant. Whether it’s streamlining processes or expanding our assessment library to a broader audience, our commitment is strong and it’s working.”
The Critical Capabilities for IT Vendor Risk Management Tools pointed out that “VRM solutions are evolving beyond process and workflow automation, with some offering vendor risk assessments as a service and some providing access to verified vendor risk assessment data through marketplaces or vendor risk shared exchanges.”
“Venminder is very unique to the market. The primary key to our growth is that we offer both a world-class SaaS platform with all the features needed to manage third party risk as well as access to vendor risk assessments that are completed by our in-house team of subject matter experts,” said Hyde. “Our library of completed assessments is growing rapidly and readily accessible to our customer network with new assessments being added daily.”
Download a complimentary copy of Gartner's 2019 Critical Capabilities for IT Vendor Risk Management Tools Report here.
Source: Gartner, Critical Capabilities for IT Vendor Risk Management Tools, December 19, 2019, Christopher Ambrose and Joanne Spencer
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