We’re proud to announce that Vendia is recognized in three Gartner 2023 Hype Cycle reports: Hype Cycle™ for Data and Analytics Programs and Practices, Hype Cycle for Cloud Platform Services, and Hype Cycle for XaaS, 2023. Vendia is recognized as a representative vendor under the Data Sharing and Enhanced Blockchain-as-a-Service (eBaaS) sections within the reports.
Vendia delivers an innovative data collaboration platform that combines the power of blockchain with trusted multi-party data sharing, all within a single solution.
Seamless data collaboration with uncompromising control
In its Hype Cycle for Data and Analytics Programs and Practices, Gartner describes data sharing as “an ecosystem of ecosystems enabling value through collaboration”—a definition that we believe fits the Vendia platform to a “T.”
Powered by patented distributed ledger technology, smart APIs, advanced automation, and low- and no-code applications, Vendia delivers seamless data collaboration across diverse multi-party, multi-system ecosystems with uncompromising security and control.
The platform also delivers unique blockchain features such as smart contracts and an auditable, tamper-proof ledger that keeps track of every transaction—within and outside the organization—to ensure full transparency, consistency, and compliance at all times.
According to Gartner:
“Data sharing is an essential business capability, enabling access to the right data to derive the right insight. It satisfies demand for more robust predictive analytics, aggregating diverse data sources and driving otherwise unknowable insights for data-driven innovation. D&A leaders at high-performing organizations who promote data sharing have more stakeholder engagement and influence than those who do not. Organizations that align data sharing with business outcomes outperform their peers.”
— Gartner, 2023 Hype Cycle for Data and Analytics Programs and Practices
Gartner also states:
“eBaaS unlocks new opportunities for businesses to leverage blockchain technology by reducing entry barriers, accelerating time to market and fostering business-related innovation. With the ability to integrate with existing enterprise systems, eBaaS can improve efficiency, security and transparency across industries, helping businesses stay competitive in a rapidly evolving digital landscape. eBaaS removes a good portion of the technical obstacles for businesses looking to take advantage of the benefits of blockchain technology.”
— Gartner, 2023 Hype Cycle for XaaS
Entering the market in 2020, this is Vendia’s fourth recognition by Gartner, previously named in the Gartner 2021 Cool Vendors™ in Cloud Computing report.
Unlocking the full value of multi-party data and insights
At Vendia, we believe that data integrity, visibility, and security are among the most critical drivers for digital investments across the enterprise. “Trustworthy data is the very foundation on which all digitization strategies are built upon,” says Shruthi Rao, co-founder and chief business officer at Vendia, noting that up to 80% of a company’s data usually sits outside its four walls at a given time.
Up to 80% of a company’s data usually sits outside its four walls at a given time.
“Once data is shared beyond company walls, it quickly becomes out of sight, out of reach, and in many cases, out of the organization’s control,” she continues. “Enterprises that lack a holistic data-sharing approach aren’t only losing out on opportunities to maximize the value of business data—they’re also opening the organization up to massive security and privacy vulnerabilities.”
Shruthi points to accelerated market momentum as a telling indicator that enterprises are quickly realizing the rewards that multi-party data-sharing tools deliver. She shares: “Getting real-time data visibility across a global network of external partners, clouds, and tools has historically been a herculean undertaking. Up until a couple years ago, a digital infrastructure for multi-party data collaboration simply didn’t exist.”
Instead, bridging the gaps between data, partners, and mixed tech stacks relied on bespoke integrations, complex development initiatives, and time-consuming system maintenance—all of which drain IT resources and budgets while leaving shared data susceptible to risks.
“Not only does the Vendia platform eliminate these traditional barriers to entry, but its underlying distributed ledger technology delivers unmatched security and control over how enterprises choose to share data and who can access it,” remarks Shruthi. “Companies can choose exactly what information to withhold or disclose to each partner based on record and individual fields.”
Among the many benefits, regulatory compliance is where Shruthi says distributed ledger technology shines exceptionally bright for organizations. “Tracking data lineage, providing audit trails for compliance, building partner trust through data consistency—these are complex business challenges that have plagued enterprises for years, and are done automatically in Vendia from day one,” she explains.
“Business leaders can see, analyze, and act on trusted, real-time data—wherever it resides inside and across the global partner ecosystem—to fuel informed decision making and drive better business outcomes.”
Gartner, Hype Cycle for Data and Analytics Programs and Practices, 2023, 26 July 2023. Gartner, Hype Cycle for Cloud Platform Services, 2023, 27 July 2023, Gartner, Hype Cycle for XaaS, 2023, 20 July 2023. Gartner, Cool Vendors in Cloud Computing, 1 November 2021. Gartner, Cool Vendors and Hype Cycle are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
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