10 Essential Steps to Streamline Third-Party Risk Management

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10 MINS

Ultimate Guide: 10 Essential Steps to Streamline Third-Party Risk Management (TPRM)

Third-party risk management (TPRM) isn’t a new concept, however, recent events have brought the discipline into the forefront like never before. Organizations in all industries rely on third parties, whether they be cloud service providers, suppliers, contractors, and other vendors.

Crucially, when the supply chain is interrupted, or third parties can’t deliver, there can be devastating and long-lasting impacts. In this ultimate guide, we’ll outline 10 essential steps that organizations can take to build a streamlined TPRM program, such as:

Defining Your Risk Appetite
Choosing Your Standard or Framework
Classifying Your Vendors
Conducting Assessments & Due Diligence
Generating Reports & Maintain Records for Compliance

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