DVV Solutions, leading experts in Third-Party Risk Assessment, are proud to confirm that Prevalent Inc., our Partner in Third-Party Risk Management remains the only ‘Visionary’ in the 2016 Gartner Magic Quadrant for IT Vendor Risk Management.1 This is the second consecutive time that Prevalent was included as a Visionary in this Magic Quadrant.
“Prevalent once again is named the only Visionary in the Magic Quadrant, and we are proud of this accomplishment,” noted Norman Menz, CTO and Co-Founder of Prevalent. “We believe our success is driven not only by the innovative nature of our products and their exclusive focus on third-party risk, but also the extensive expertise we have assembled in-house.”
Sean O’Brien, Director DVV Solutions said “Prevalent’s placement as Visionary is clearly based on their dedicated focus and completeness of vision in Third-Party Risk Management. For our Customers this means DVV Solutions are able to offer a comprehensive set of services to meet the challenges of Third-Party Risk Management, backed by a Partner and solutions set focused purely on the efficient management and effective delivery of Third-Party IT supplier risk programs.”
The report states “Over the past three years, vendors have increased their revenue and number of customers in this market. Given their expectations, all indications point to continued growth.” It goes on to say that “By 2019, the need for transparency into operational and security activities within a vendor’s value network (including subcontractors) will drive demand for vendor security, as well as risk management solutions and services, by 30%.”
Since the first publication of this Magic Quadrant, the company has released multiple subsequent versions of its Vendor Risk Manager (VRM) and Vendor Threat Monitor (VTM) products, and recently announced the release of Prevalent Synapse™ – the first unified third-party risk assessment, threat intelligence, and collaboration platform. It is the next generation of integrated capabilities of VRM and VTM platforms, now combined and architected to support virtually any form of collaborative assessment network.
“We believe that Prevalent Synapse is an industry game-changer”, added Jonathan Dambrot, CEO and Co-Founder of Prevalent. “It is purpose-built to enable smarter risk management through a shared assessment model that leverages standardised content, automation, and threat intelligence.”
Sean O’Brien concludes “Our congratulations to the Prevalent team. With a powerful yet simple technology that standardises and automates the process of remote and onsite assessment of Third-Party suppliers, this is further recognition that Prevalent a clear thought-leader in how to improve the process and reduce the overall cost of Third-Party risk assessments for organisations across the globe.” said Sean O’Brien, Managing Director at DVV Solutions.
To request access to the Gartner Inc. “Magic Quadrant for IT Vendor Risk Management,” click HERE.
1Source: Gartner, Magic Quadrant for IT Vendor Risk Management, Christopher Ambrose, Joanne Spencer, Edward Arthur Weinstein, 28 April 2016.
About the Magic Quadrant
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If you are interested in finding out more about DVV Solutions, or information about our Third Party Risk Management services and solutions, please contact us now and we will be happy to speak with you.