Aravo Named a Leader in the 2021 Gartner® Magic Quadrant™ for IT Vendor Risk Management Tools

Aravo Believes Its Leader Placement Demonstrates Strong Vision and Risk Domain Expertise

(San Francisco) – September 2, 2021. Aravo, the leading provider of intelligent automation for third-party risk and resilience, today announced that it has been recognized by Gartner as a Leader in the 2021 Magic Quadrant for IT Vendor Risk Management Tools. Aravo believes that its Leader placement is a testament to the company’s unparalleled expertise in risk management, delivering a solution with broad coverage across supplier, IT vendor, and third-party risks.

Gartner defines IT vendor risk management (IT VRM) as the discipline of addressing the residual risk that businesses and governments face when working with IT vendors. The scope is often extended beyond IT vendors to include other third parties that access, provide or manage sensitive data, connect to a customer’s systems or networks, or support critical business processes.

“We believe that being named a Leader in the Gartner Magic Quadrant validates the power of the Aravo platform and our continued innovations that help clients address evolving risks, strengthen organizational resilience, and better capitalize on emerging opportunities,” said Michael Saracini, CEO at Aravo. “Aravo is extremely proud of our accomplishments, strong market traction, and expanding customer base. We are also grateful for the customer partnerships we have with many of the world’s most respected brands, who also contribute to our innovation and success.”

A Leader in Analyst Evaluations

With this recognition, only Aravo is positioned as a Leader in the following key market evaluations:

• 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools
• The Forrester Wave™: Third-Party Risk Management Platforms, Q4 2020
• The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020
• 2021 Chartis RiskTech Quadrant for Third-Party Risk Management

Client Evaluations and Recommendations

Based on excellent scores from customers in Gartner Peer Insights, Aravo takes pride in working with the world’s most respected and forward-thinking brands to help them provide highly effective third-party risk management programs. Gartner Peer Insights documents customer experience through verified ratings and peer reviews from enterprise IT, risk and security professionals. As of Sept. 2, 2021, Aravo has an overall rating of 4.6 out of 5 based on 21 reviews which include:

• “Before we moved to Aravo we had an internally developed tool along with emails, spreadsheets, documents and folders to manage our third-party risk. Moving to Aravo moved us from the Flintstones to the Jetsons in light-speed.” – Director of Centralized Third-Party Management in the Finance Industry (read full review)
• “We have worked with Aravo for several years now deploying different functionality on a global scale. We have complex processes and systems that needed to be understood and accommodated in order to achieve the desired functionality. The system functionality has been capable of meeting our diverse and complex needs, including flexible reporting.” – Compliance Officer in the Manufacturing Industry (read full review)
• “We have been able to configure our Aravo instance to handle our company’s complex third party relationships, and our users are pleased that there is a common platform for our company’s risk reviews which historically was not the case.” – Senior Sourcing and Procurement Manager in the Services Industry (read full review)

Please visit Aravo’s website to access a complimentary copy of the 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools report.

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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. 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.

Gartner Peer Insights reviews constitute the subjective opinions of individual end users based on their own experiences and do not represent the views of Gartner or its affiliates.

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Gartner, Magic Quadrant for IT Vendor Risk Management Tools, Joanne Spencer, Edward Weinstein, Luke Ellery, Aug. 30, 2021

About Aravo

Aravo delivers the market’s smartest third-party risk and resilience solutions, powered by intelligent automation.

For more than 20 years now, Aravo’s combination of award-winning technology and unrivaled domain expertise has helped the world’s most respected brands accelerate and optimize their third-party management programs, delivering better business outcomes faster and ensuring the agility to adapt as programs evolve.

With solutions built on technology designed for usability, agility, and scale, even the most complex organizations can keep pace with the high velocity of regulatory change. As a centralized system of record for all data related to third-party risk, Aravo helps organizations achieve a complete view of their third-party ecosystem throughout the lifecycle of the relationship, from intake through off-boarding and all stages in between and across all risk domains.

Aravo is trusted by the world’s leading brands, helping them manage their risk and improve the performance of more than 6 million third parties, suppliers and vendors across the globe.