SureCloud, the provider of cloud-based, Governance, Risk and Compliance (GRC) solutions, has been recognised by Gartner as a Challenger in the 2020 Gartner Magic Quadrant for IT Vendor Risk Management (VRM) Tools, for completeness of vision and ability to execute. SureCloud’s position on the ability to execute axis improved since the previous year’s Magic Quadrant for IT VRM Tools, where it was recognised for the first time as a Niche Player.
The 2020 Gartner Magic Quadrant report evaluates IT Vendor Risk Management solution providers, recognised by Gartner as offering comprehensive solutions, and categorises them into four categories: Niche Players, Visionaries, Challengers, and Leaders. The Quadrant provides a view on how well IT VRM providers are executing their stated visions and performing against Gartner’s market view based on customer feedback and solution demonstrations.
According to Gartner, “The IT Vendor Risk Management use case focuses on the process of ensuring that the use of third-party service providers and IT suppliers does not create an unacceptable potential for business disruption or a negative impact on business performance.”
Vendor Risk Management solutions enable organisations to accurately ascertain the security and compliance risks associated with their IT third-parties, creating a centralised register of these parties, and integrating this with wider risk management processes.
Richard Hibbert, CEO and Co-Founder of SureCloud, said:
Vendor risk management is a crucial part of any organisation’s cybersecurity and risk programme, with the number of third parties having access to highly sensitive data and therefore offering a simple route new risks and threats to be introduced to the organisation. Demonstrating that each third party’s approach to security and risk management meets your internal standards and regulatory obligations is vital to ensure you are managing vendor risk effectively.
SureCloud’s Vendor Risk Management solution is designed to offer a simple out of the box framework for organisations to assess and review all their IT third party vendors for potential risks – in one scalable, flexible and highly configurable software-as-a-service (SaaS) solution.
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SureCloud is a provider of cloud-based, Integrated Risk Management (IRM) products, Cybersecurity and Risk Advisory services, which reinvent the way you manage risk. SureCloud connects the dots with IRM solutions enabling you to make better decisions and achieve your desired business outcomes. SureCloud is underpinned by a highly configurable technology platform, which is simple, intuitive and flexible. Unlike other GRC Platform providers, SureCloud is adaptable enough to fit your current business processes without forcing you to make concessions during implementation; meaning you get immediate and sustained value from the outset.