We’re delighted that SureCloud has been named a Challenger in the 2021 Gartner® Magic Quadrant™ for IT Vendor Risk Management Tools for the second consecutive year, based on its Completeness of Vision and Ability to Execute.
We believe this report from Gartner, one of the most respected analyst organizations in the world, stands testament to our truly comprehensive suite of Governance, Risk, and Compliance (GRC) solutions, commitment to customers, and continuous innovation.
Gartner defines IT Vendor Risk Management as “the discipline of addressing the residual risk that businesses and governments face when working with IT vendors. The scope is often extended beyond IT vendors to include other third parties that access, provide or manage sensitive data, connect to a customer’s systems or networks, or support critical business processes.”
In the report, Gartner evaluated 17 vendors in the market and recognized SureCloud for its Third Party Risk Management SaaS solution. We believe that our strengths in product strategy, integration support, market responsiveness and clarity and simplicity of licensing contributed to our Challenger position.
SureCloud’s Integration Hub allows organizations to connect and integrate their SureCloud solution with their extended IT systems, centralizing and streamlining their GRC processes.
Integrating IT GRC use cases with the surrounding IT infrastructure and services they are meant to govern is a critical element of any GRC solution. Through its Integration Hub, SureCloud is able to offer connectivity to almost any third party system, satisfying and enhancing a number of use cases from providing data into control testing, to ensuring new suppliers and partners are adequately assessed, to enriching risk assessment processes through external data feeds.
Cited as a differentiator for the company, SureCloud is focused on gathering feedback and insight from its customers, inviting them to be part of the discussion around product delivery and service. SureCloud’s Integration Hub is an example of an initiative that was driven by customer feedback.
Clarity and Simplicity of Licensing
SureCloud recently set a new standard for purchasing IT GRC solutions by removing all charges associated with its implementation and configuration services. Throughout their subscription, SureCloud customers benefit from a configurable solution that they can modify as their requirements change without having to secure budget increases or be blindsided by unexpected services costs. Read more about SureCloud’s unique pricing model in this recent announcement.
Making the Case For a Vendor Risk Management Tool
The demand for IT vendor risk management solutions is surging. According to Gartner, “regulatory guidance and newer privacy and data breach notification regulations in many industries have made IT Vendor Risk Management an essential requirement.”
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 cloud-based Third Party Risk Management solution is designed to offer a simple out of the box framework for organizations to assess and review all their IT third party vendors for potential risks. It can help you cut across organizational siloes, integrate all IT vendor risk data in a common framework for complete transparency, and ensure your risks are adequately tracked and monitored for better peace of mind.
- Provides a centralized register of all third-party IT vendors, giving a comprehensive view of risk.
- Provides end user-configurable and dynamically generated risk assessments for third parties, so you only ask questions of your third parties that directly apply to them, avoiding assessment fatigue and significantly increasing response rates.
- Enables you to centrally track upcoming, in progress, completed and overdue assessments in real-time.
- Automates task allocation, including reminders sent to assignees for overdue activities.
- Provides flexible dashboards and reporting, giving a single view to monitor risk or assess program effectiveness.
- Offers full integration with regulatory compliance data and wider IT risk management processes.
Learn more about our Third Party Risk Management Capability here. You can also request a live demo here.
Gartner, Magic Quadrant for IT Vendor Risk Management Tools, by Joanne Spencer, Edward Weinstein, Luke Ellery, 30 August 2021.
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