Venminder Recognized in 2021 Gartner® Magic Quadrant™ for IT Vendor Risk Management Tools for Third Year in a Row

Written by Venminder Experts | Sep 2, 2021 5:00:00 AM

Recognized for Completeness of Vision and Ability to Execute

Elizabethtown, KY – Venminder, an industry recognized provider of third-party risk management solutions, today announced that the company has been positioned by Gartner as a Challenger in the Magic Quadrant for IT Vendor Risk Management Tools. This is the third year running that Venminder has been recognized in the Gartner Magic Quadrant report.

According to Gartner, “The market for IT VRM tools continues to evolve and mature. Vendors are providing more automation within their tools through machine learning and natural language processing (NLP); a focus on environmental, social and governance (ESG) demands; and an increased appreciation for third-party risk, particularly in a postpandemic world. Regulatory guidance and newer privacy and data breach notification regulations in many industries have made IT VRM an essential requirement.”

“We are excited and proud of this recognition and believe it validates our complete approach to third-party risk management,” said James Hyde, CEO of Venminder. “Venminder is the only pure play third-party risk solution provider in the market and this has allowed us to invest in the right areas of our platform. By remaining laser-focused on our customers and their needs, we continue to be the highest rated platform on industry review sites for organizations to run a compliant and best of breed vendor risk management program.”

Gartner Magic Quadrant for IT Vendor Risk Management Tools report evaluated 17 IT vendor risk management vendors. Gartner creates the report, as well as a companion Critical Capabilities report, to help a wide variety of customers make strategic decisions around their IT VRM strategies and technology investments.

Download a complimentary copy of Gartner 2021 Magic Quadrant for IT Vendor Risk Management Tools report on Venminder’s website by clicking here.

Source: Gartner, Magic Quadrant for IT Vendor Risk Management Tools, August 30, 2021, Joanne Spencer, Edward Weinstein, Luke Ellery

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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 can be found in the Venminder Exchange and 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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