Lockpath named in Gartner 2014 Magic Quadrant for IT Vendor Risk Management
Published on October 30, 2014
OVERLAND PARK, KANSAS — Lockpath, a leader in innovative governance, risk, compliance (GRC) and information security (InfoSec) solutions, today announced it has been recognized in Gartner, Inc.’s Magic Quadrant for IT Vendor Risk Management (IT VRM)* report. The Magic Quadrant report is a culmination of research within a specific market and provides a wide-angle view of market competitors. This is the first year of quadrant consideration for Lockpath after entering the VRM market in 2011.
Gartner evaluated Lockpath’s Keylight Vendor Risk Management solution. Keylight integrates the full vendor lifecycle into daily GRC processes and includes capabilities for information gathering, due diligence investigation, risk assessments, contract negotiation, ongoing monitoring and termination workflows. This holistic approach, coupled with Keylight’s patented Dynamic Content Framework and advanced reporting and analytics capabilities, supports a streamlined, risk-based and proactive program for vendor risk management.
Since its launch in Oct. 2010, Keylight has expanded from a risk and controls management tool to a comprehensive GRC and information security program management system. Vendor risk management capabilities were incorporated into the platform in 2011, and includes a secure vendor extranet, integrations with content providers such as Shared Assessments, and a hybrid cloud/on-premise delivery option.
Today, Keylight’s capabilities include policy and procedure management, risk assessment and mitigation, threat and vulnerability management, incident remediation, business continuity planning and audit preparation in addition to its vendor management offerings. Lockpath was recently recognized in Gartner’s Magic Quadrant for Business Continuity Management Planning (BCMP) report for Keylight’s business continuity offerings.
“Third-parties are extensions of an organization. Even though they do not operate under the same company name, their actions can have a direct impact on compliance efforts and brand reputation,” said Chris Caldwell, Chief Executive Officer at Lockpath. “They are key components to an organization’s risk landscape that many times are mismanaged or overlooked. Gartner’s research and recognition of IT vendor risk management as a core use case in GRC further demonstrates their significance. We designed Keylight to provide our customers with the tools to accurately assess, identify and remediate risks to their organization, including third parties, and we are thrilled to be included in this year’s Magic Quadrant.”
*Gartner ‘Magic Quadrant for IT Vendor Risk Management’ by Christopher Ambrose, Gayla Sullivan, Kris Doering, Oct. 29, 2014.
About the Magic Quadrant
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Lockpath is a market leader in corporate governance, risk management, regulatory compliance (GRC) and information security (InfoSec) software. The company’s flexible, scalable and fully integrated suite of applications is used by organizations to automate business processes, reduce enterprise risk and demonstrate regulatory compliance to achieve audit-ready status. Lockpath serves a client base of global organizations ranging from small and midsize companies to Fortune 10 enterprises in more than 15 industries. The company is headquartered in Overland Park, Kansas.