ISG GovernX® Client Base Nearly Doubles as Enterprises Look to Transform Supplier Contract Management

Rhea-AI Summary

ISG GovernX^® reports a 90% increase in enterprise subscriptions in 2020, reflecting a growing need for efficient management of software and services contracts. The platform has saved clients millions by automating contract lifecycle management, managing over $46 billion in supplier contracts and serving more than 12,000 active users. Enhanced capabilities include cloud governance for optimizing XaaS spend. The pandemic has heightened demand for ISG GovernX as organizations seek to mitigate supplier risks and control costs more effectively.

Positive

• 90% increase in enterprise subscriptions in 2020.
• Saved clients millions through automated contract management.
• Over $46 billion in supplier contracts managed on the platform.
• More than 12,000 active users benefiting from enhanced software capabilities.

Negative

• None.

The ISG GovernX^® vendor compliance and risk management solution saw a 90 percent increase in enterprise subscriptions in 2020, as clients embrace a more effective approach to managing their ever-growing portfolio of software and services contracts, Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, said today.

ISG GovernX has saved clients millions of dollars over the life of the platform by automating the management of the entire contract lifecycle. Users get a complete, customized view of their contract and supplier ecosystem to improve supplier performance, decrease spend and reduce third-party risk.

The platform enables organizations to control costs by managing consumption, validating invoices, optimizing demand, reviewing all new requests against the spending portfolio and controlling value leakage. More than $46 billion of supplier contracts are now managed on ISG GovernX, and there are more than 12,000 active users on the platform.

Interest in the ISG GovernX platform has soared amid the current pandemic, as companies look to manage their suppliers more closely and understand potential risks to their supply chain.

“At the onset of the lockdowns, many of our clients asked for immediate support managing provider spend, evaluating continuity of service and ensuring supplier governance,” said Lois Coatney, partner and president, ISG GovernX. “The market’s response to ISG GovernX has been incredible. Clients are seeing the power of this solution to help them manage the complexity of third-party ecosystems.”

ISG has responded to the heightened interest in cost optimization by expanding the capabilities of the GovernX platform. New features include a cloud governance capability that provides visibility and controls for anything-as-a-service (XaaS) spend and performance, ensuring optimization of this rapidly increasing component of enterprise technology spend.

Beyond offering a clear line of sight into supplier contracts and performance, ISG GovernX also helps clients see the bigger picture. The platform offers users insights into macroeconomic, geo-political, infrastructure and people-related changes that may impact their supply chain.

For more information about ISG GovernX, visit this webpage.

About ISG

ISG (Information Services Group) (Nasdaq: III) 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 www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005673/en/

FAQ

What percentage increase did ISG GovernX see in enterprise subscriptions in 2020?

ISG GovernX experienced a 90% increase in enterprise subscriptions in 2020.

How much in supplier contracts is managed by ISG GovernX?

ISG GovernX manages over $46 billion in supplier contracts.

How many active users does the ISG GovernX platform have?

The ISG GovernX platform has more than 12,000 active users.

What new capabilities were added to the ISG GovernX platform?

New capabilities include a cloud governance feature for optimizing anything-as-a-service (XaaS) spend.

Why has interest in ISG GovernX increased during the pandemic?

Interest has surged as companies look to manage supplier risks and costs more effectively amid the pandemic.