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What is Third-Party Risk Management?
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What is Third-Party Risk Management?

Third-Party Risk Management (TPRM) is the process of analyzing and minimizing risks associated with outsourcing to third-party vendors or service providers. There are many types of third-party risks, including financial, environmental, reputational, and cybersecurity risks. Because third-party relationships are vital to business operations, TPRM is an essential component of all Cybersecurity programs.

Read this guide to learn:

  • What is a third-party?
  • Why is TPRM important?
  • What does TPRM entail?
  • What is a Vendor Risk Management Policy?
  • How to evaluate third-parties
  • What are the common challenges of TPRM?
  • What should I look for in a TPRM software solution?