Report by Gartner: “The market for IT VRM solutions continues to evolve in response to increased regulations, as well as increased appreciation for third-party risk.”
SAI360, provider of the world’s leading risk platform SAI360, today announced that it has been named a Leader in the 2020 Gartner Magic Quadrant for IT Vendor Risk Management Tools1 for the second consecutive year. Of the companies evaluated, SAI360 was once again recognized as a Leader for its ability to execute and completeness of vision.
“In a field of 23 vendors, we feel this recognition as an industry leader validates our expertise in this space, our continuous innovation and proven delivery of solutions for customers across the globe,” said Peter Granat, Chief Executive Officer SAI360. “At a time when companies are trying to navigate the complexities of a Covid economy, we’re delighted Gartner’s report recognizes SAI360 for its completeness of vision and ability to execute.’’
The Gartner Magic Quadrant for IT Vendor Risk Management Tools evaluates software solutions to manage and automate the vendor risk management life cycle. The 2020 report names SAI360 in the Leaders quadrant in the space. SAI360 believes its Leader position validates its integrated view of risk management and that the company’s VRM solution is part of a larger risk platform backed by deep industry expertise, robust features, and a commitment to customer-driven innovation.
This comes at a time of increased urgency for companies to accelerate digital transformation in response to the global coronavirus pandemic and growing demand for cloud-first software solutions. The current landscape has only heightened the dependency on a global information supply chain and increased exposure to costly security gaps and operational risks.
The 2020 Gartner Magic Quadrant for IT VRM Tools report noted that “the market for IT VRM solutions continues to evolve in response to increased regulations, as well as an increased appreciation for third-party risk.” Third-party risk is a key trend impacting the market, which SAI360 believes is a reference to the Covid-19 pandemic. IT VRM Tools providers delivering these solutions continue to change with new competition, merger and acquisition activity, and the addition of new capabilities. These capabilities can include: “Software or a SaaS solution that automates the processes and workflows to manage vendor Risks; “Out-tasking” or outsourcing of the IT VRM workflows and processes; and the acquisition, analysis and reporting of vendor risk data sourced from public and private Sources.”
“The global pandemic’s impact on health and safety, supply chain, data privacy and more have shown us that organizations cannot manage risk in silos,” said Anton Lissone, Chief Technology Officer at SAI360. “In today’s increasingly complex digital risk landscape, companies need to ensure they have a full vantage point to manage risk. The transparency, adaptability and functionality of our platform, boasting more than 100 technology and content vendor partnerships and powerful out-of-the-box integrations, ensure our clients are fully prepared for whatever comes next.”
SAI360 is committed to helping organizations build a strong and resilient risk management program through easy-to-use, configurable tools to automate and mitigate high-priority risks. Our customer partnerships are an integral part of driving the SAI360 product innovation forward. Read more about our values and the SAI customer experience via these 5-star G2 Crowd customer reviews.
1 Gartner, “Magic Quadrant for IT Vendor Risk Management Tools,” Joanne Spencer, Edward Weinstein, 24 August 2020
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