IT Vendor Risk Management Solutions Reviews and Ratings
What are IT Vendor Risk Management Solutions ?
Gartner defines IT vendor risk management (IT VRM) as the discipline of addressing the residual risk that businesses and governments face when working with external service providers, IT vendors and related third parties. The scope typically addresses risks related to data protection, business continuity, security and other risk domains as relevant to laws, regulation and industry practices.
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Bitsight provides cyber risk management solutions, enabling risk and security teams to identify exposure, prioritize investment, communicate with stakeholders, and mitigate risk. We operate on large risk datasets and leverage wide adoption to help over 3,200 global customers in every vertical. Empowered by Bitsight, risk and security leaders can manage their external attack surface, protect their digital supply chain, comply with cybersecurity regulations, and quantify cybersecurity performance.
SecurityScorecard was established in 2013 by security and risk specialists Dr. Alex Yampolskiy and Sam Kassoumeh. The company's patented rating technology is leveraged by a substantial number of organizations for self-monitoring, third-party risk management, board reporting, and cyber insurance underwriting. With a mission to make the digital world safer, SecurityScorecard provides solutions for better understanding, enhancing, and conveying security risk. The company's unique offering includes instant cyber risk ratings that correspond with vendor cybersecurity questionnaire responses. This allows a comprehensive view of risk and helps organizations enhance their digital security stance externally. Furthermore, the company’s risk ratings are utilized by companies globally, denoting its widespread acceptance.
UpGuard helps businesses manage cybersecurity risk. UpGuard's integrated risk platform combines third-party security ratings, security assessment questionnaires, and threat intelligence capabilities to give businesses a full and comprehensive view of their risk surface.
Venminder is a firm that concentrates on providing third-party risk management solutions. Their core business lies in offering software, control assessments, expert knowledge, and education to manage such risks. Venminder operates a platform that serves as a one-stop solution for managing a third-party risk management program. The platform includes features such as document storage, vendor onboarding, contract tracking, questionnaire management, and risk assessments among others. Assessments are carried out by a team of experts which enables the identification of potential risks and the understanding of strengths in the vendors' security, privacy, and regulatory compliance among other areas. The platform is utilized by a diverse range of users to execute their third-party risk management programs. In addition to providing software solutions, Venminder staff also contribute their expertise to various conferences, research projects and provide educational content.
OneTrust enables the responsible use of data and AI. The OneTrust Platform simplifies the collection of data with consent and preferences, automates the governance of data with integrated risk management across privacy, security, IT/tech, third-party, and AI risk, and activates the responsible use of data by applying and enforcing data policies across the entire data estate and lifecycle.
Black Kite is a company focused on solving the issue of cyber attacks, particularly those that occur through third parties. The company has developed the first global third-party cyber risk monitoring platform. Its perspective is unique in that it is built from a perspective to counter hacker's approaches. Black Kite concentrates on enhancing the overall cyber ecosystem with their highly accurate and comprehensive cyber intelligence. Unlike other security ratings service providers, Black Kite provides standards-based cyber risk assessments analyzing the cybersecurity posture from three essential dimensions: technical, financial, and compliance, thus bringing a broader and more holistic approach to addressing potential cyber threats and vulnerabilities.
Mitratech Prevalent helps companies reduce security and compliance exposures that come from working with vendors and suppliers throughout the third-party risk management lifecycle.
ServiceNow's cloud‑based platform and solutions help digitize and unify organizations so that they can find smarter, faster, better ways to make work flow. So employees and customers can be more connected, more innovative, and more agile.
Archer is a pioneer in risk management, delivering solutions for the heroes tasked with helping their organization deal with uncertainty. We enable better decision making with a technology platform to manage all types of risk. With more than 20 years of experience, Archer is solely dedicated to helping organizations manage risk, ensure compliance and meet emerging challenges such as ESG and operational resilience. Working with the largest pure risk management community globally with more than 1,200 customers of all sizes and industries, we help our customers not by building a wall around their business but by building a bridge to their next opportunity.
ProcessUnity is a cloud-based solutions provider helping organizations automate their risk and compliance programs. By offering highly configurable, user-friendly tools, the company aims to drastically reduce manual administrative tasks. As a Software-as-a-Service technology, ProductUnity is designed to deploy quickly with minimal effort from IT resources. The technology aims to deliver faster, improved outcomes with scalability to accommodate the growth of risk governance and compliance programs. The suite of applications provided by ProcessUnity includes Third-Party Risk Management, Cybersecurity Program Management, Policy and Procedure Management, Enterprise Risk Management, Regulatory Compliance Management, and Product and Service Offer Management. The company also emphasizes the importance of creating and nurturing a diverse and inclusive workplace.
Panorays is a provider of third-party cyber risk management solutions, helping businesses optimize their defenses for each unique third-party relationship. Panorays provides businesses the tools to stay ahead of any emerging third-party threats and provides actionable remediations.
RiskRecon, a division of Mastercard, focuses on the identification and mitigation of cybersecurity risks within businesses and their supply chains. Utilizing its sophisticated technology, RiskRecon provides an understanding of potential risks, creating action plans according to the risk-priorities of a business. The primary usefulness of the company lies in its provision of cyber risk analysis and management. RiskRecon has developed a reliable, data-driven platform that offers insights to assist businesses in identifying weak points in their security protocols. Efficient and scalable risk management programs can be established using the RiskRecon platform, thereby allowing for a significant transformation from previously manual processes to automated solutions. By using RiskRecon, businesses can successfully manage cyber risks, resulting in better overall risk outcomes.
Coupa Software is a cloud-based platform focusing on business spend management (BSM). The primary objective of Coupa Software is to provide companies with the necessary tools and features needed to gain visibility and control over their business expenditures, enabling them to make more effective and secure spending decisions. The company has a global outreach and serves an extensive range of businesses worldwide.
Diligent provides governance, risk and compliance (GRC) SaaS, empowering more than 1 million users and 700,000 board members to clarify risk and elevate governance. With a worldwide reach, it serves an impressive array of users from varying sizes of organizations. The distinctive standpoint of Diligent is its commitment to provide leaders with interconnected perspectives on governance, risk, compliance, and ESG. This connected view is accomplished through their cutting-edge platform, which is designed to empower leaders to drive impact and enforce accountability effectively. It employs a talented and passionate team dedicated to shaping the future of the software industry. The company's headquarters are located in New York, but it also maintains offices in various locations such as Washington D.C., Galway, Budapest, Vancouver, Bengaluru, Singapore, and Sydney.
LogicManager is focused on effective risk management in the contemporary See-Through Economy, where company reputation can be jeopardized instantly over social platforms. The company aids enterprises in anticipating future risks, maintaining their reputation, and augmenting their business performance through robust governance. Their enterprise risk management (ERM) software is designed to facilitate proactive risk management across businesses of various sizes and industries. Through its services, LogicManager aims to ensure organizations meet the expectations of various stakeholders within their purview, preparing for surprise events and ultimately contributing positively to the larger community.
CyberGRX is focused on delivering effective third-party cyber risk management solutions. The company has developed a first-of-its-kind third-party cyber risk Exchange. This innovation equips organizations with a dynamic collection of third-party data, along with advanced analytics capabilities. This helps organizations in managing, monitoring, and mitigating risks within their partner ecosystems. CyberGRX is based in Denver, CO and provides a scalable solution for third-party cyber risk management.
Quantivate, established in 2005, provides solutions from enterprise risk and resilience to regulatory compliance and audit, to streamline GRC management in one system that scales as organizations grow. Designed on a configurable platform, solutions are purpose-built for banks, credit unions, and other financial institutions.
SAI360 is an established cloud provider that specializes in the integration of Governance, Risk and Compliance (GRC), Environment, Health and Safety (EHS), Sustainability and Learning. With its SAI360 platform, the company provides a variety of modules which can be adjusted to suit the needs of different organizations. This comprehensive approach aids organizations in their efforts to progress, create trust, comprehend their impact, and develop resilience. The company's primary location is in Chicago and it has a global presence with operations in various regions worldwide.
Allgress is a company that provides solutions to enterprise risk, security, and compliance professionals. The main focus of the company is to manage risk posture efficiently. It uses cutting-edge visualization, automation, streamlined workflows, and the integration of existing data feeds to minimize the complexity and cost involved in risk management. The distinguishing feature of the company's solutions is that customers derive value in a short span of time, compared to other risk management solutions in the market.
Aravo provides intelligent automation solutions aimed at managing third-party risk and resilience. For over two decades, the company's technology and domain expertise has facilitated the acceleration and optimization of third-party management programs for various brands. Aravo's solutions offer usability, agility, and scalability, enabling even complex organizations to keep up with the pace of regulatory changes. As a centralized system for all data related to third-party risk, Aravo provides a comprehensive view of an organization's third-party ecosystem throughout the lifecycle of their relationship. The company's services assist in the management of risk and performance of millions of third parties, suppliers and vendors globally.