For immediate release – December 23, 2019 11:00am ET
Elizabethtown, KY – 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 Report.
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
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.
About Venminder
Venminder offers a world-class SaaS platform that guides and streamlines third party risk management.
Venminder’s platform helps users collaborate on all things vendor-related and guides through critical processes such as oversight management, contract management, risk assessments, due diligence requirements, questionnaires, SLA management, vendor onboarding and more. Robust and configurable reporting can be generated from the tool to give clear visibility into the management and ongoing monitoring of third parties. Completed vendor risk assessments include thorough assessments of a vendor’s information security, SOC reports, contracts, financials, business continuity/disaster recovery and more. Venminder also powers Third Party ThinkTank, an online free community dedicated to third party risk professionals. For more information, visit www.venminder.com.
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