Mitratech Celebrates Four Consecutive Years of Leadership in the SPARK MatrixTM for Vendor Risk Management

QKS Group selects Mitratech as a top performer and technology leader in the 2024 SPARK Matrix^TM analysis, continuing the company's four-year reign as a frontrunner in the global Vendor Risk Management (VRM) market.

AUSTIN, Texas, Nov. 26, 2024 /PRNewswire/ -- Mitratech, a leading global provider of legal, compliance, and human resources (HR) software, is excited to announce that it has once again been recognized by QKS Group as a leader in the SPARK Matrix^TM: Vendor Risk Management (VRM) for 2024. Receiving strong ratings in both technology excellence and customer impact — and following a momentous period of portfolio expansions and innovation — this recognition marks the fourth consecutive year for the Company as a SPARK Leader.

"It's an incredible honor to be recognized as a leader once again in the SPARK Matrix for Vendor Risk Management, and a testament to our team's relentless drive to advance the next generation of vendor risk management solutions," said Brent Cole, General Manager, GRC at Mitratech. "As we continue to build and deliver on the market's most comprehensive risk and compliance platform, acknowledgement like this both fuels our drive to keep innovating and reaffirms our commitment to helping our clients meet today's toughest compliance challenges with unmatched value and resilience."

Updated annually, QKS Group's SPARK Matrix™ features a detailed analysis of global market dynamics, major trends, the vendor landscape, and competitive positioning. Ranking leading technology vendors in its comparative grid framework, the study offers users the strategic insights needed to assess each provider's strengths, competitive edge, and market position.

Mitratech celebrates its fourth year of recognition in the QKS SPARK Matrix^™ with its highest ranking yet, having made significant strides in organic product development and the acquisition of complementary, AI-enabled third-party risk management (TPRM) solution (Prevalent) aimed at bolstering its interconnected risk management platform.

"Mitratech continues to deliver a comprehensive Vendor Risk Management (VRM) solution that combines continuous risk monitoring, automated assessments, and advanced analytics across the entire vendor lifecycle," remarked Sahil Dhamgaye, Analyst at QKS Group. "With its recent acquisition, Mitratech's strength in compliance and risk management has been significantly enhanced, offering clients seamless integration between TPRM and broader governance processes. The platform now provides deeper regulatory compliance and operational resilience through advanced AI-driven capabilities and customizable workflows, ensuring that organizations can effectively manage vendor risk while maintaining regulatory alignment. Owing to the Company's overall sophisticated Vendor Risk Management offerings, strong value proposition for customers, and robust strategy and roadmap, it has received strong ratings across the parameters of technology excellence and customer impact and is positioned as a SPARK Leader in the 2024 SPARK Matrix^TM: Vendor Risk Management."

For more information about Mitratech's placement in the 2024 SPARK Matrix^™ report, please visit: SPARK Matrix^TM: Vendor Risk Management, 2024.

About Mitratech

Mitratech is a proven global technology partner for corporate legal, risk, compliance, and HR professionals seeking to maximize productivity, control expense, and mitigate risk by deepening organizational alignment, increasing visibility, and spurring collaboration across an enterprise. Mitratech serves over 20,000 organizations worldwide, spanning more than 160 countries.

For more information, visit: www.mitratech.com.

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About QKS Group

QKS Group is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At QKS Group, our vision is to become an integral part of our client's business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.

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SOURCE QKS Group