OneTrust today announced its Vendor Risk Management solution, powered by the Vendorpedia Third-Party Risk Exchange, has been recognized for the second consecutive year in the 2020 Gartner Critical Capabilities for IT Vendor Risk Management Tools* research report. This annual report evaluated the capabilities of 23 IT Vendor Risk Management software providers in the market and the Critical Capabilities report delivers product scores of key capabilities across “critical differentiating usage scenarios.” This report comes on the heels of OneTrust being named a Leader in the Gartner 2020 Magic Quadrant for IT Vendor Risk Management Tools.*
Gartner’s Critical Capabilities research examines the ability of IT Vendor Risk Management Tools to address three use cases. These use cases are based on the delivery requirements most often expressed to the Gartner team from their client base including “VRM Solution,” “VRM Solution and Managed Support Services,” and “VRM Solution and Vendor Risk Assessment Data.” OneTrust GRC’s Vendor Risk Management solution was recognized based on various capabilities and use cases and received scores of:
- 4.01 of 5 for Vendor Risk Management Solution
- 4.00 of 5 for VRM Solution and Managed Support Services
- 4.02 of 5 for VRM Solution and Vendor Risk Assessment Data
Why OneTrust GRC Vendor Risk Management?
Across companies of all sizes and from various industries there are a common set of IT vendor risk management challenges, stemming from disjointed processes, strategic sourcing struggles, shadow IT, and ongoing risk mitigation. Over time, these obstacles become significant blockers, inhibiting productivity and profitability for the business as a whole.
With OneTrust GRC’s Vendor Risk Management solution, organizations can streamline and automate both strategic and IT vendor risks for more efficient and effective security, compliance and risk management operations. Specifically, the solution enables users to manage their entire vendor risk lifecycle, and provide real-time insights to procurement teams by enabling quicker assessments, streamlining risk mitigation, maintaining regular oversight, and generating detailed reports for each vendor, from onboarding to offboarding.
“The OneTrust team has dedicated the past 18 months building an industry leading IT vendor risk management platform,” said Kabir Barday, OneTrust CEO. “We believe OneTrust’s recognition in Gartner’s Critical Capabilities report shows our customers that they have invested in a top solution. We are distinctly positioned to support our customers in all markets and will continue to partner with them to inform product capabilities.”
The Vendor Risk Management solution is fully integrated into the OneTrust suite of privacy, security and governance solutions. To learn more, download the 2020 Gartner Critical Capabilities report or request a demo today.