LockPath, a leading provider of governance, risk management and compliance (GRC) solutions, today announced the company has been included as a sample vendor in Gartner Inc.’s January 17, 2017 IT Market Clock for Procurement and Sourcing Solutions, 2016, a new report providing an assessment of the maturity and commoditization of major solution asset classes in the procurement and sourcing domain.
According to Gartner analysts and authors of the guide, Desere Edwards, Deborah Wilson and Magnus Bergfors, “Procurement and sourcing technologies are evolving as vendors expand offerings and buyers push for digital process enablement.”
LockPath was one of 13 sample vendors cited in the category Supply Base Management. Through workflows, dashboards, and a highly configurable user interface, LockPath’s Keylight Platform simplifies the process of evaluating suppliers for risk and compliance. The platform centralizes and streamlines the entire supplier lifecycle, by allowing for information gathering, due diligence investigation, risk assessments, contract negotiation, ongoing monitoring and termination workflows — all in one user-friendly platform.
“We believe this latest inclusion reinforces our continued growth in the supplier management market,” said LockPath CEO Chris Caldwell. “Our customers are finding value in establishing repeatable and reportable processes for supplier onboarding, evaluation, monitoring and termination. Visibility into the entire supplier lifecycle significantly reduces risk and provides actionable insights.”
Keylight is designed to manage all facets of compliance and risk programs, including IT Risk Management, Operational Risk Management, Vendor Risk Management, Audit Management, Business Continuity Management and Corporate Compliance.
To learn more about LockPath and the Keylight Platform, visit our website. For more information or to obtain Gartner’s IT Market Clock for Procurement and Sourcing Solutions, 2016, visit Gartner’s website.