ServiceNow named a Leader in the 2020 Magic Quadrant for IT Vendor Risk Management Tools

  • Trends and Research
  • Solutions
  • Cybersecurity and Risk
  • 2020
  • Vasant Balasubramanian
August 27, 2020

Business Continuity Management and Telecommunications Network Performance Management

It’s an honor to be named a Leader in the 2020 Gartner Magic Quadrant for IT Vendor Risk Management Tools (ITVRM)! 

ServiceNow Vendor Risk Management delivers a fast, smart, and connected way to manage third-party risk and build supplier resilience.

This recognition as a Leader in the 2020 ITVRM Magic Quadrant comes shortly after Gartner also named ServiceNow as a Leader in the 2020 Magic Quadrant for IT Risk Management and in the 2019 Magic Quadrant for Integrated Risk Management Solutions.

Vendor Risk Management integrates seamlessly with our other Risk products and is built on the NOW Platform to enable organizations to integrate third-party risk with performance and enterprise risk, creating value for our customers.

ServiceNow Vendor Risk Management improves the way you manage third-party risk by:

  • Increasing employee and vendor efficiency through automation and increased productivity
  •  Improving resilience and risk posture through continuous monitoring at scale and advanced technologies
  • Integrating across the enterprise to connect third-party risk to performance and enterprise risk

We accomplish that in the way that you’ve come to expect from ServiceNow -- through flexible workflows that transform manual and siloed processes into a user-friendly, unified program built on a single platform and common data model.

In addition, we released exciting new features in our ServiceNow store in June, providing even more detail about the sources of your risk, defining risk areas, and assessing vendor hierarchy and engagements.

During this time of crisis, vendor risk management is critical. The COVID-19 pandemic has changed the way we all do business, including how we work with third parties. Adapting to new procedures can increase pressure on critical suppliers and drive adoption of new ones. As these interactions evolve, business leaders must keep building supplier resilience through effective vendor risk management top of mind.
 

This graphic was published by Gartner, Inc. as part of a larger research document


ServiceNow is the only cloud vendor that currently offers comprehensive third-party risk management tightly integrated with and embedded across the enterprise.

We’re proud to be recognized by Gartner as a Leader in the 2020 Magic Quadrant for IT Vendor Risk Management Tools, and we’re excited to help your enterprise build a strong supplier resilience program.

See for yourself. This report is an invaluable tool for those seeking an unbiased, third‑party evaluation of vendors as supplier resilience and third-party risk management become essential for business.

Read Gartner’s Magic Quadrant report.

This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from ServiceNow. 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.

[1] Gartner Magic Quadrant for IT Vendor Risk Management Tools, Joanne Spencer, Edward Weinstein, August 24, 2020.

Gartner, Magic Quadrant for IT Risk Management, Khushbu Pratap, Brent Predovich, Claude Mandy, 11 August 2020

Gartner, Magic Quadrant for Integrated Risk Management Solutions, 15 July 2019, Jie Zhang, Brian Reed

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