Third Party Risk Management
Oversight and Control: An Eye on external entities that interact with your organization’s operations and data.
Third-party risk management (TPRM) is the process of identifying, assessing, and mitigating risks associated with external partners, suppliers, and vendors that an organization relies on to conduct its business. TPRM aims to ensure that third-party engagements do not adversely affect an organization's financial stability, reputation, compliance status, or operational efficiency.