RiskVision Recognized Again in 2017 Gartner Magic Quadrant for IT Vendor Risk Management

SUNNYVALE, CA--(Marketwired - Jul 14, 2017) - RiskVision, the enterprise risk intelligence company formerly known as Agiliance, today announced that the company was again recognized as a challenger by Gartner, Inc., in the 2017 Magic Quadrant for IT Vendor Risk Management report by analysts Christopher Ambrose and Luke Ellery.

"This Magic Quadrant presents Gartner's assessment of 12 vendors providing software and solutions that should be considered by enterprises seeking a technology solution for the identification, assessment and monitoring of risks relating to their use of service providers and IT vendors -- that is, companies that typically have access to, or even control over, information assets that may be critical to an enterprise's success and viability."

RiskVision released version 8.5 of its risk intelligence platform in December 2016. RiskVision's Vendor Risk Management (VRM) solution delivers out-of-the-box innovation at every step -- classification, due diligence and screening, risk assessments and scoring, contracting and onboarding, risk oversight and control, continuous monitoring and renewal and termination. The RiskVision platform is simple to deploy for small to medium firms yet scales to more than 300,000 services managed and over 10,000 practitioners in global Cloud and On Premise productions. Key automation areas include dynamically updated business hierarchies, 50+ multi-vertical content frameworks, configurable workflows, KPIs with risk metrics trending, and an independently-certified secure vendor portal which empowers third parties to create users internally, delegate, complete assessments and add critical evidences. Options include patent-pending "always-on assessments" that deliver continuous risk posture and risk appetite planning, and continuous monitoring feeds from various market and security subscription services.

"Third-party breaches and attacks continue to wreak havoc on businesses, touching every vertical over the past year," said Joe Fantuzzi, president and CEO of RiskVision. "RiskVision's approach puts clients into production fast, using out-of-the-box integration with common enterprise systems and third-party data sources, flexible controls assessments and scoring, configurable dashboards for different user types and innovative vendor management tools. Our RiskVision VRM solution routinely delivers 50 percent higher efficiency over manual methods, 5-10X more third parties assessed, and a 30 percent reduction in anticipated staffing, while minimizing third, fourth and nth-party exposure to cyber breaches, bribery, corruption, fraud, IP and regulatory risk areas."

According to the report's authors, "By 2020, 75 percent of Fortune Global 500 companies will treat vendor risk management as a board-level initiative to mitigate brand and reputation risk." Ambrose and Ellery continue, "High-profile failures of IT service providers, increasing rollouts of enterprise risk management programs, and third-party access to sensitive and regulated information continue to fuel demands in the IT VRM market. While the predominant market driver remains regulatory requirements, lesser regulated or nonregulated entities are increasingly concerned with the operational and reputational risks to which their vendors expose them."

For more information on the RiskVision TPRM Solution, click here.

Source: Gartner, Inc., Magic Quadrant for IT Vendor Risk Management, Christopher Ambrose, Luke Ellery, June 29, 2017.

Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including all warranties of merchantability or fitness for a particular purpose.

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About RiskVision
RiskVision develops comprehensive risk intelligence solutions for the enterprise. The highly decorated RiskVision platform is the industry's first risk intelligence solution designed for today's real-time, big-data, threat-centric world. RiskVision's architecture and design delivers the industry's best usability, scale, automation and time-to-deployment advantages -- at a fraction of the cost of traditional solutions. CIOs and CROs of the world's leading organizations and government agencies rely on RiskVision; customers include AXA Group, Cisco, Deutsche Bank, E*TRADE, Exelon, First Data, Fiserv, HCL, Lloyds Banking Group, Novartis, Roche, Safeway, Sheetz, Southern Co., Time Warner, United Health Group, U.S. Departments of Defense, Health & Human Services, Justice, and Veterans Affairs, and dozens of other clients worldwide. For more information, please visit riskvisioninc.com.