Gartner recognizes the Ostendio MyVCM Trust Network for creating a network effect that improves transparency and efficiency for all participants, across multiple security frameworks, including SOC 2
Ostendio, a leading provider of integrated risk management software, announced it is featured in the Gartner, Inc. Competitive Landscape: Integrated Risk Management report published on December 6, 2021. Ostendio is listed as one of eight enterprise level vendors, including OneTrust and LogicGate. The report recognizes Ostendio for its “innovative approach” to the challenge of establishing or optimizing a data security program. In particular, the report highlights how the Ostendio MyVCM Trust Network engages the entire security and risk management ecosystem, including customers, vendors, and auditors, to manage organizational security risk, thereby reducing time to audit certification.
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According to Gartner, “IRM continues to be a dynamic market. Use-case expansion, vendor consolidation, and innovative approaches to risk and compliance activities are drivers of the evolving vendor landscape.” The report continued, “MyVCM is especially appealing to organizations that must go through some form of third-party independent audit because the key benefit of MyVCM is creating efficiency through operationalizing the testing of thousands of controls organizations have implemented.”
“Being included in Gartner’s 2021 Competitive Landscape: Integrated Risk Management report recognizes the range of features the MyVCM platform provides to customers across their entire ecosystem of partners, vendors, and auditors,” said Grant Elliott, Chairman and CEO, Ostendio. “The Ostendio MyVCM platform is changing the way companies manage their data security and risk management programs, going beyond simple automation. The Ostendio MyVCM platform makes building and operating an effective security program more achievable to all organizations, regardless of size or industry.”
The MyVCM Trust Network is a live ecosystem of organizations that connect with each other via their respective MyVCM instances. Vendor Connect, one of the MyVCM Trust Network features, allows users to invite their vendors (at no cost to the vendors) to create and maintain online records of their security and compliance readiness. Responses to compliance assessments are linked to supporting documentation that is easily accessed and kept up to date within the vendor’s MyVCM instance. Ostendio customers can send assessments to vendors based on specific regulations or tailor them to their specific requirements. The vendor becomes a part of the MyVCM Trust Network, which allows them to map their responses from all Ostendio customers, without having to start from scratch for similar assessment questions. Ostendio also has a similar feature targeting audit partners called Auditor Connect.
The 2021 Gartner Market Guide also distinguishes Ostendio in its category for pricing transparency. “Ostendio is one of the few IRM vendors that lists its pricing on their website where organizations can calculate the approximate cost of the solution. Additionally, Ostendio does not charge by module. Ostendio customers can invite their vendors (at no cost to the vendors) to create and maintain online records of their security and compliance readiness via assessments.”
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MyVCM helps CISOs, CIOs and other heads of security oversee the implementation of their security programs to over 150 standards and frameworks including SOC 2, Federal Risk and Authorization Management Program (FedRAMP) and Health Information Trust Alliance (HITRUST).
Ostendio is a privately owned company based in Arlington, VA.@ Investors include Osage Venture Partners, Blue Ventures Investors, Virginia Innovation Partnership Corporation (formerly known as Center for Innovative Technology, Virginia), and Riverbend Capital. Ostendio was recently recognized as one of America’s Fastest-Growing Companies on the 2021 Inc. 5000 list and has received numerous awards for cybersecurity excellence and diversity. Ostendio is also a Mission Corporation.