Vendor Risk Management (VRM) solutions allow business entities to prevent third-party vendors from unacceptable disruption and negative impact on business performance. VRM technology facilitates the organization to evaluate, monitor and manage the risk exposure from third-party suppliers (TPSs) offering IT products and services, or accessing the enterprise information.
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Top Key Players:
BitSight Technologies (US), RSA (US), Genpact (US), LockPath (US), MetricStream (US), BWise (Netherlands), Resolver (Canada), SAI Global (Australia), Rsam (US), IBM (US), Optiv (US), Quantivate (US), RapidRatings (US), ProcessUnity (US), LogicManager (US), and VendorInsight (US).
The global vendor risk management market is driven by rise in adoption of vendor risk management solutions to efficiently manage multifaceted vendor ecosystems. Additionally, increase in development and acceptance of new and advanced solutions among enterprises in order to decrease the risk associated with managing several vendors and enhance production is driving demand for vendor risk management solutions across the world. Moreover, demand for vendor risk management systems is rising in the highly regulated end-use industries including life sciences & health care, and banking, financial services, & insurance (BFSI).
Vendor Risk Management Market Segmentation by Vertical Type
- Telecom and IT,
- Consumer Goods and Retail,
- Healthcare and Life Sciences,
- Energy and Utilities,
- Government and Others (Education and Media & Entertainment).
By Organization Size Type
- Large Enterprises.
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The research report of the global vendor risk management market also includes an in-depth assessment of competitive landscape. It scrutinizes the business and marketing approaches of the overall market for the forthcoming years. Along with this, the research report also includes an analysis of the current progresses and future plans of the firms in order to comprehend the course of the players in the near future.
Key benefits of the global market research report:
- It offers detailed analyses of the global market condition
- Stronger and stable business outlook coupled with the driving factors of the global vendor risk management market
- It offers strategic planning methodologies
- Spotting emerging latest market trends
- Provides assistance to stay ahead in the global competition
- It offers an estimation of global market size and cost
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