WARREN, N.J., May 16, 2016 /PRNewswire/ -- Prevalent, the third-party risk management and cyber threat intelligence innovators, today announced that it 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."
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 standardized content, automation, and threat intelligence."
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
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 any warranties of merchantability or fitness for a particular purpose.
Prevalent is a vendor risk and cyber threat intelligence innovator with a reputation for developing cutting-edge technologies and highly-automated services that are proven to help organizations reduce, manage and monitor the security threats and risks associated with third-party vendors. www.prevalent.net
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