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Analyst Research

2020 Gartner Critical Capabilities for IT Vendor Risk Management Tools Report

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Venminder Receives Highest Scores in Two of Three Use Cases in Gartner Critical Capabilities for IT Vendor Risk Management Tools Report

This Gartner report evaluated 23 IT vendor risk management vendors across three identified use cases with Venminder receiving the highest product scores for the Gartner use cases "VRM Solution and Vendor Risk Assessment Data" and "VRM Solution and Managed Support Services". 
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This graphic was published by Gartner, Inc. as part of a larger research document and should be evaulated in the context of the entire document. The Gartner document is available upon request on this page from Venminder.

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  • Key findings
  • Recommendations for those looking to improve the ways they manage vendor performance and risks
  • What you need to know about VRM solutions
  • An analysis of the critical capabilities of 23 vendors

The Ever-Evolving Vendor Risk Management Landscape

Gartner Recommendations
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According to Gartner "The importance of IT vendor risk management (VRM) is escalating as sourcing, procurement, vendor management, risk and security leaders look to improve their response to increasing regulations, program maturity and residual risks while vendor engagement expands."

"Develop a roadmap for Vendor Risk Management
by assessing their program maturity and the use cases that are most suitable to their current and expected future maturity."

"Prioritize critical VRM requirements
align them with the critical capabilities of a VRM solution, ensuring that their selections are adaptable and scalable to their immediate and evolving VRM program needs."

"Plan to operate VRM in an integrated model
ensuring a flow of vendor risk information, and work to establish a cross-organizational governance model that defines responsibilities and accountabilities for vendor risks across teams."

This information was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request on this page from Venminder.

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Source: Gartner, Critical Capabilities for IT Vendor Risk Management Tools, August 24, 2020, Edward Weinstein and Joanne Spencer

The Gartner document is available upon request from Venminder.

Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, and is used herein with permission. All rights reserved.
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