Rsam, the industry-leading provider of Governance, Risk, and Compliance (GRC) solutions, today announced that Gartner has positioned Rsam as a “Challenger” in the 2014 Magic Quadrant report for IT Vendor Risk Management*, a market which Gartner defines as “software [that] exists to enable the assessment, monitoring and remediation of risks arising from the use of IT vendors and IT service providers.”
The report evaluated 10 different software vendors on 15 criteria that measured the vendor’s completeness of vision and ability to execute on their vendor risk management (VRM) product offering. Evaluation criteria factors included market responsiveness and track record, customer experience, market understanding, innovation, among others. For a complimentary copy of the complete report, visit www.rsam.com/resources/analyst-reports/gartner-magic-quadrant-vendor-risk.html
Defining the IT vendor risk management solutions as those that “support enterprises that have to assess, monitor and manage their exposure to risks arising from their use of third parties that provide IT products and services or that have access to their information,” Gartner laid out the strengths of Rsam’s VRM offering to include:
Built on its core GRC platform, Rsam’s IT VRM module can share information with other modules. It does so using an import engine to integrate modules such as business continuity management and operational risk management, for which data sharing is often needed.
Rsam supports multiple methods of delivering data from external sources or internal assessments. It partners with external providers such as LexisNexis for key data feeds. Customers can access Rsam-provided content and third-party data or bring their own data feeds to the solution.
Rsam offers capabilities for identifying vendor risks and conducting vendor risk assessments as part of a vendor due diligence process. It also has capabilities for tracking vendor risks and conducting remediation exercises.
Most of Rsam’s reference customers are highly satisfied with its capabilities in the areas of assessment, tracking and remediation.
“As companies outsource many of their critical operations, vendor risk management has become one of most critical areas for organizations. The speed in which critical business operations are being outsourced and the growing number of vendors is placing tremendous pressure on risk management teams to assess vendor risks before they come on board and continually monitor them,” said Vivek Shivananda, CEO of Rsam. “Rsam provides a comprehensive VRM solution with the quickest time to value in the market. This report validates our leadership position in the space, highlights our strengths, and acknowledges that our customers are highly satisfied with our offering.”
1 Gartner “Magic Quadrant for IT Vendor Risk Management” by Christopher Ambrose, Gayla Sullivan, Kris Doering, October 2014.
About the Magic Quadrant
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Rsam (www.rsam.com) delivers enterprise-wide solutions for Risk, Compliance and Security Management to leading organizations across financial services, healthcare, government, education, energy, retail and other industries. Rsam’s platform-based, out-of-the-box solutions for GRC, Security Risk Intelligence, Vendor Risk and BCM offer businesses the flexibility, performance and reporting necessary to deliver enterprise-wide risk visibility and assurance.