Buyers Guide & Market Landscape: 3rd Party Management Solutions

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Abstract

GRC 20/20’s Research Briefing: Buyers Guide & Market Landscape of 3rd Party Management Solutions is aimed to help organizations navigate the maze of solutions in this market, identify and understand what differentiates types of players, establish buying considerations and criteria to make informed choices, and overview the market.

The two greatest challenges to governance, risk management, and compliance (GRC) strategies are change and managing GRC across the extended enterprise. Over half of what we used to call insiders are not traditional employees, but are suppliers, vendors, agents, contractors, outsourcers, service providers, consultants, temporary workers, and more. Managing GRC across extended 3rd party relationships has become a significant challenge. Areas of social accountability, conflict minerals, security, health and safety, privacy, and more bear down on organizations.  This day and age has the largest breach of a point of sale system and theft of credit cards coming from an HVAC (heating & air conditioning) vendor of a retailer.

3rd Party Management is a segment of the GRC market that GRC 20/20 monitors, forecasts, and provides RFP advice to buyers of solutions.  GRC 20/20 follows the range of solution providers in the 3rd Party Management market (and broader GRC market) that provide technology, content, and professional services related to 3rd Party Management. This Research Briefing is the current market research, drivers & trends, primary solution providers, demand analysis, buyer RFP/inquiry, top priorities, and forecasting of GRC 20/20’s market intelligence on 3rd Party Management solutions that spans hundreds of research interactions/conversations with organization buyers as well as solution providers, professional service firms, and content/knowledge providers.

3rd Party Management solutions are used to govern and manage 3rd party relationships such as supplier, vendor, contractor, agent, partner, and others. The 3rd Party Management market is comprised of solutions that cover procurement, 3rd party lifecycle, screening & due diligence, contract management, risk management, compliance management, audits & inspection management, 3rd party portals and networks, and more.

Who should watch:

  • Organizations looking to purchase 3rd Party Management Solutions
  • Solution providers looking to understand the market dynamics and intelligence of the the 3rd Party Management sector of the GRC market
  • Professional service firms that advise, consult, and recommend 3rd Party Management Solutions 

Content of the 3rd Party Management Solutions Market Research Briefing is:

  • Market Overview & Definition (e.g., Structure, Sectors, Categories)
  • Market Drivers & Trends
  • How 3rd Party Management Fits into the Broader GRC Market
  • Related GRC Market Segments
  • Buying Criteria & Considerations
  • Market Size and Projections
  • Market Maturity and Direction
  • Use Cases – How Companies are Purchasing & Using 3rd Party Management Solutions
  • Listing and Summary Commentary on Significant Solution Providers in 3rd Party Management
  • Analysis and Overview of 3rd Party Management Buyer Interest & Priorities (anonymized analysis of RFPs and buyer inquiry/activity)

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