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Aravo recognized as a leader in both Third-Party Risk Management and Supplier Risk and Performance Management Platforms evaluations
San Francisco, Calif. October 6, 2020 – Aravo Solutions, a leader in intelligent automation for third-party risk and performance management, has been recognized as a leader by independent analyst research firm Forrester Research, Inc. in The Forrester Wave™: Third Party Risk Management Platforms, Q4 2020, released today.
Aravo is one of only three leaders in this Wave, and this positioning comes on the back of Aravo’s recent recognition as a leader in The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020. Aravo is the only provider to have been recognized as a leader in both of these reports.
In The Forrester Wave™: Third Party Risk Management Platforms, Q4 2020, 11 of the most significant third-party risk management solution providers were evaluated on 23 criteria that cover current offering, strategy, and market presence. Aravo received the top scores possible in the sourcing and procurement, risk scoring, continuous monitoring, and the planned enhancements criteria. The report noted that “Aravo goes big on maturity-aligned solutions for risk and performance” and goes on to state that: “This approach provides best-practice templates and streamlines deployment”.
“Being recognized as a Leader in both The Forrester Wave™: Third Party Risk Management Platforms, Q4 2020 and The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020, is extremely impactful.” said Michael Saracini, Chief Executive Officer, Aravo Solutions. “No other provider is in this position. We believe this is testament to the holistic, cross-functional approach we deliver for our global customers across all of their third-party, supplier, and IT vendor risk, compliance, and performance management requirements.”
Eric Hensley, Chief Technology Officer, Aravo Solutions, noted: “Now more than ever organizations need to rapidly respond to emerging risks, and it’s essential that solution providers continue to innovate. In reference to The Forrester Wave™: Third Party Risk Management Platforms, Q4 2020, Hensley said “As a leader, Aravo scored among the top three in the current offering category, but what we think is another important takeaway is that we also received the top score possible in the planned enhancements criterion. This, we believe, reflects our ongoing commitment to ensure our customers are always equipped with the definitive combination of technology and best-practice expertise to remain effective, resilient, and agile.”
The Forrester Wave™ is one of the industry’s most complete and detailed analyses, using a transparent methodology that includes vendor surveys, product demos, and customer reference calls to compare top providers in the market. This latest recognition builds on a strong history of industry recognition among leading analyst firms for Aravo. The company was named a Leader in The Chartis RiskTech Quadrant® for Third-Party Risk Management Systems 2019, a Leader in The Forrester Wave™: Supplier Risk and Performance Management Platforms, Q3 2020, and a Challenger in Gartner Magic Quadrant for IT Vendor Risk Management Tools in August 2020.
Aravo delivers the market’s smartest third-party risk and performance management 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 the risk and improve the performance of more than 5 million third parties, suppliers and vendors across the globe.