Third Party Risk Management

Third-party risk management (TPRM) is identifying, assessing, managing, and monitoring risks associated with external vendors, suppliers, service providers, or partners. These risks include operational disruptions, data breaches, compliance violations, reputational damage, and financial loss. A strong TPRM program involves systematic due diligence, risk segmentation, contract management, ongoing performance monitoring, and regulatory compliance checks. As third-party ecosystems grow more complex, organizations increasingly rely on digital tools, automation, and AI to enhance visibility, streamline assessments, and manage real-time risk exposure. Effective TPRM strengthens enterprise resilience, ensures accountability, and supports informed, risk-aware decision-making across the supply chain.