For the third consecutive year, we are honored to announce that OneTrust is a leader and furthest in completeness of vision in the 2021 Gartner® Magic QuadrantTM for IT Vendor Risk Management Tools.
In the report, Garter evaluated the 17 vendors in the market and recognized OneTrust for its Vendorpedia solutions, including Third-Party Risk Management, Third-Party Risk Exchange, Third-Party Risk Monitoring, and Questionnaire Response Automation. We believe this report from Gartner, one of the most respected analyst organizations in the world, shows our customers that they’ve invested in one of the top solution.
Download the report: 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools
About OneTrust Vendorpedia Third-Party Risk Solutions
OneTrust Vendorpedia helps simplify third-party risk for everyone involved. Our solutions support dozens of global laws, standards, and control frameworks, such as NIST, ISO, CSA CAIQ, SIG, HIPAA, PCI DSS, NYDFS, GDPR, EBA, CCPA and many more.
The platform consists of the following technologies to empower you and your vendors.
- Third-Party Risk Management software enables you to create automation workflows to manage every vendor engagement, from onboarding to offboarding. With the technology, you can easily: build your vendor inventory and streamline vendor screening; automate vendor risk assessments with intelligent risk flagging; reduce risks with automated risk mitigation workflows; monitor vendor risk and performance over time; and demonstrate compliance with powerful reporting.
- Third-Party Risk Exchange software automates vendor risk analysis and control identification by bringing together a global community of organizations dedicated to sharing security, privacy, and compliance information. Because vendors actively participate in the community, Exchange customers can access risk analytics and control gap reports on thousands of their vendors without ever getting bogged down in the back-and-forth of an assessment. Further, Exchange customers can prioritize their vendors with out-of-the-box Auto Inherent Risk calculations; leverage built-in cyber risk scores to see the cybersecurity posture of their vendors; and screen third parties using Trust Profiles that include detailed security, privacy, and compliance information.
- Third-Party Risk Monitoring capabilities enable organizations to leverage pre-built plugins to critical information sources, alerting them when new risks and compliance issues arise. Organizations can also act on these and other changes, such as sending a reassessment when a contract expires, or a new compliance issue is flagged.
- Questionnaire Response Automation software to help you automatically answer incoming security questionnaires. The tool offers a simple dashboard to collaborate on incoming questionnaires, store all your questionnaire answers and security documentation, as well as autocomplete any assessment. Our autocomplete technology uses your saved answers and matches them to new questions using Natural Language Processing (NLP), Machine Learning (ML), and OneTrust Athena™ AI. Within the tool, organizations can also create and share a Trust Profile, aggregating key security, privacy, and compliance documentation to proactively build trust with inquiring customers.
OneTrust’s third-party risk solutions are also recognized by customers in Gartner Peer Insights, “OneTrust VRM is a Must Have For Your Organization! Not only is their product the best in the business, but their knowledgeable staff make implementation easy and set you up for long term success utilizing the platform.” – Gartner® Peer Insights Review from Security and Risk Management Professional, 30B+ USD Organizations
In the last year, OneTrust Vendorpedia has earned numerous analyst recognitions and OneTrust remains focused on deliver results for customers. These recognitions include:
- Recognized in the 2020 Gartner Critical Capabilities for IT Vendor Risk Management Tools
- Named a Leader in the Forrester Wave™: Third-Party Risk Management Platforms, Q4 2020
- Positioned as the 2021 Gartner Peer Insights Customers’ Choice for IT Vendor Risk Management Tools
- Named the TPRM Leader in the 2021 Chartis Research GRC Solutions, 2021: Market Update and Vendor Landscape
This is in addition to massive company growth, including:
- Announcing a $210 million Series C extension led by new investor SoftBank Vision Fund 2 with additional investment from Franklin Templeton. The extension brings the Series C round to $510 million and total funds raised to $920 million at a $5.3 billion valuation.
- Crossing 10,000 customers in over 100 countries with more than half in the Fortune Global 500.
- Acquiring Shared Assessments, a global membership organization dedicated to developing best practices, education and tools to drive third-party risk assurance.
A Message to Our Customers, Employees and Partners
Being named a Leader in the 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools is a great honor for the OneTrust team. To our customers, employees, and partners, thank you! Your support and feedback help shape our third-party risk management solutions and enhances our platform of trust.
- Vendorpedia Blog: 8 Best Practices for Answering Security Questionnaires
- Vendorpedia Infographic: The Importance of Vendor Risk Assessments
- OneTrust Blog: Security, Compliance, and Privacy: Exploring the Critical Areas of Vendor Risk
- Download the report: 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools
- Watch a webinar: In the Third-Party Risk Management Zone: A Best Practices Fireside Chat with OneTrust and AutoZone
Gartner ®, Magic QuadrantTM for IT Vendor Risk Management, Joanne Spencer, Ed Weinstein, Aug 30, 2021
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