ISG GovernX® Surpasses 10,000 Users
User base doubles since start of pandemic amid concerns over supply chain integrity; ISG vendor compliance and risk management platform sees 600% growth in contract volume
STAMFORD, Conn., June 03, 2020 (GLOBE NEWSWIRE) -- Information Services Group () (Nasdaq: ), a leading global technology research and advisory firm, said today it is seeing growing demand for its ISG GovernX® vendor compliance and risk management solutions as clients seek to mitigate supply chain risk in the midst of the global COVID-19 pandemic.
Since March, when the pandemic began to have a fundamental impact on business operations and introduce new risks into supply chain integrity, ISG has seen the number of ISG GovernX clients, and individual users of the platform, increase by more than 100 percent. There are now more than 10,000 enterprise users leveraging the platform to manage 7,500 contracts, a 600 percent increase since the onset of the pandemic. GovernX users now process more than $5 billion of transactions on the platform each quarter, and engage with more than 6,000 suppliers.
Among the major new clients now subscribing to ISG GovernX platform services are a major global telecommunications company, two leading banking and financial services firms, and several global healthcare, pharmaceutical, manufacturing and utility companies.
ISG GovernX 2020, the newest version of the platform, automates the management of the entire end-to-end contract lifecycle and provides a complete, customized view of the user’s contract and supplier ecosystem to improve supplier performance, decrease spend and reduce third-party risk. Enterprises can leverage cognitive technology and optimized workflows to mitigate supply chain risks and deliver up to 30 percent more value from their outsourcing spend.
“Major enterprises are quickly turning to ISG GovernX to help them more effectively manage their critical supply chains,” said Lois Coatney, ISG partner and president, ISG GovernX. “The global pandemic has introduced multiple new risks to supply-chain integrity, which our clients are able to identify and manage through our automated, AI-driven platform.”
Clients have realized more than $100 million in cumulative savings to date using ISG vendor management solutions, Coatney said.
The ISG GovernX platform brings clarity to complex contract management lifecycles, drawing on ISG data and insights derived from more than $450 billion of transactions the firm has facilitated between enterprise clients and suppliers.
ISG GovernX users can easily manage new contracts and proactive renewals, make timely amendments and handle contract terminations—all on one platform. In times of crisis, ISG GovernX clients can mitigate supply chain risks and ensure business continuity by reviewing and validating their providers’ business and IT continuity plans and procedures. The platform delivers easy integration with other enterprise applications, such as ServiceNow, and is tightly connected to ISG Research offerings, such as benchmarks, assessments and total-cost-of-ownership evaluations.
For more information about ISG GovernX 2020, visit this .
About ISG
ISG (Information Services Group) (Nasdaq: ) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world's top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit .
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Will Thoretz Information Services Group, Inc. Jim Baptiste Matter Communications for ISG
