Venminder Receives Highest Scores for “VRM Solution and Vendor Risk Assessment Data” in the 2021 Gartner® Critical Capabilities IT VRM Tools Report

Venminder scores among highest in all Use Cases in the 2021 Gartner Critical Capabilities IT VRM Tools Report

Elizabethtown, KY – Venminder, a leader in third-party risk management solutions, today announced that it was recognized with high scores in 2021 Gartner Critical Capabilities for IT Vendor Risk Management Tools report. This marks the third consecutive year Venminder has been named in Gartner Critical Capabilities for IT Vendor Risk Management Tools report. The company received the highest scores allocated for the “VRM Solution and Vendor Risk Assessment Data” Use Case and was the only solution provider, among the 18 vendors evaluated, to rank in the top 3 for all use cases.

“We are very proud of this recognition by Gartner on our robust solution offerings,” said James Hyde, CEO of Venminder. “As a pure play third-party risk provider, we empower our customers to manage the entire assessment process throughout the vendor lifecycle. Our platform seamlessly organizes all vendor risk management activities while our Venminder Exchange marketplace improves the efficiency of the assessment processes by providing access to the risk-rated data they need to make more informed, risk-based decisions.”

Gartner Critical Capabilities report evaluated 18 IT vendor risk management vendors across three identified use cases. In Gartner 1-5 scoring scale, Venminder received high scores in all use cases, with a 4.13 for “VRM Solution and Vendor Risk Assessment Data”, 4.04 for “VRM Solution and Managed Support Services” and 4.03 for “VRM Solution”. Gartner provides this report to help a wide variety of prospects and clients make strategic decisions around their IT VRM strategies and investments in technology platforms.

Venminder is 100% committed to third-party risk and rapid growth. The combination of Venminder’s growth and dedication to third-party risk has enabled the company to innovate faster, consistently delivering new enhancements and third-party risk solutions to its growing customer base, more effectively and efficiently than other providers in the market, which are point solutions or offer limited third-party risk functionality within their broader platforms. For organizations that want to seamlessly integrate third-party risk into their technology stack, Venminder offers a two-way API that can streamline the flow of information into systems for ticketing, accounts payable, GRC, collaboration tools and more.

Access a complimentary copy of the 2021 Gartner Critical Capabilities for IT Vendor Risk Management Tools report on Venminder’s website by clicking here.

Source: Gartner, Critical Capabilities for IT Vendor Risk Management Tools, August 31, 2021, Joanne Spencer, Edward Weinstein, Luke Ellery

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Gartner, Critical Capabilities for IT Vendor Risk Management Tools, 31 August 2021, Edward Weinstein, Joanne Spencer, 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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