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JibChain’s 2023 Software Supply Chain Risk Management Preview

Updated: Jan 3, 2023

Introduction


JibChain’s 2023 Supply Chain Risk Management (SCRM) is integrating with SettleTop, a cloud-based solution that combines data science, artificial intelligence and machine learning to recognize, analyze and mitigate vulnerabilities in software supply chains. This integration will enable SCRM users to receive SettleTops findings directly within their existing SCRM platform. The new federal mandate M22-18 will require government agencies to ensure the software being integrated into their respective networks is secure and vetted by a qualified supplier. Organizations seeking to do business with the government must be prepared to attest to the quality of the software in 2023 meaning that the ownership will fall the supplier if malicious activity is found.


Executive Summary

The software supply chain is complex, and cyber risks are a growing concern for organizations. The Software Supply Chain Risk Management (SCRM) market is expected to grow from $2.3 billion in 2019 to $4.3 billion by 2023, according to MarketsandMarkets. SCRM includes tools that enable organizations to monitor their software supply chains, detect vulnerabilities and manage risk associated with the use of third-party software libraries.

The need for SCRM has grown as companies have adopted cloud computing for data storage and processing power, which makes them more vulnerable to cyberattacks since companies don't own their own servers or storage anymore making them more reliant on third parties who might not be as well protected against hackers themselves.


Scope Of Coverage

Software Supply Chain Risk Management Software

Software supply chain risk management software companies can provide invaluable assistance as you assess and manage the risks associated with your software supply chain. Software supply chain risk management software reviews will allow you to choose the best solution for your business needs.


Supply Chain Risk Management Impacts From 2020, 2021

Supply chain risk management impacts from 2020, 2021 and the forecast for 2023. The report provides a comprehensive overview of the current state of supply chain risk management, including market drivers and trends, key risks to be addressed across the supply chain value chain, and recommendations for reducing risk in these areas.

In this section:

  • Scope of coverage

  • Supply Chain Risk Management Impacts From 2020, 2021

  • Forecast For 2023

2023 Forecast

The supply chain risk management market is forecast to grow at a CAGR of 11.09% through 2023, according to Technavio. The market has been growing steadily, from $7.46 billion in 2018 to an estimated $12.76 billion in 2023. The growth is attributed to increasing demand for cloud-based software solutions that offer greater flexibility and scalability than on-premises solutions do, which is making them very popular among organizations.

The software supply chain risk management software segment accounted for a revenue share of 77% of the total market in 2022 and will retain its dominance till 2024 owing to its ability to provide better visibility into key risk factors within supply chains and enable organizations with better decision-making capabilities through data analytics tools such as predictive modelling, data visualization etc., says Technavio Research analyst Chandrashekhar Singh while speaking with Supply Chain Brain’s team.


Market Drivers And Trends

  • The need for a complete, holistic view of supply chain risk

  • The need to understand the impact of supply chain risk on business and software

  • The need to understand the impact of supply chain risk on cyber security and compliance

Recommendations

  • Integrate JibChain’s SCRM Framework with SettleTops Software Supply Chain Solution

  • Use AI to automate the identification and analysis of risk in the software supply chain

  • Use AI to automate mitigation of risk in the software supply chain

SCRM is integrating with SettleTop to identify, analyze and mitigate risk of compromised software supply chains.


SettleTop Scorecard is a software supply chain risk management tool. It enables companies to identify, analyze and mitigate the risks associated with the software supply chain.

There are several potential risks associated with the purchase of software from developers external to your company. One of these is compromised code. The use of SettleTop scorecard can help mitigate this risk by identifying potentially malicious code and alerting you before it enters your environment. If you are already using SettleTop Scorecard, then JibChain’s SCRM program will complement your existing software supply chain risk management program by providing additional insights into how to manage this threat through effective analysis and mitigation strategies that work in tandem with other tools like SettleTop’s Scorecard.


Conclusion

Overall, SCRM is a market that continues to grow and evolve with the needs of companies. Businesses are looking for ways to better mitigate supply chain risk and protect their brand, intellectual property and customers. SCRM solutions provide an important layer of defense against cyber threats while also providing visibility into supply chain events as they occur so that businesses can react quickly when necessary.



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