Business Transforming third party risk management in 2025 It’s not enough to manage risks, you have to manage the lifecycle of a vendor relationship.

Managing suppliers, contractors and other third-party relationships involves understanding the specific risks they bring to your organization.

If third-party providers violate regulations, they expose their clients to a compliance risk. Third-party risk management (TPRM) is intended to help against this.

Third-party reviews should be a collaborative effort among internal teams such as risk management, compliance, IT, procurement and an internal or external legal adviser. As part of this risk ...

Employee training remains invaluable. In addition, develop an incident response plan for each third-party vendor in the event of potential ransomware attacks or data breaches. Businesses should use a ...

The time of risk management being exclusive to a single organization is long gone, making managing third-party risk an even greater priority for leaders. But when IT and security resources are ...

Third-party management, IT and security teams, boards, and regulators that have third-party risk in their sights will do well to focus on how AI can cut through these Gordian knots.

Building a Strong Vendor Management Foundation Key Elements A straightforward vendor management process forms the backbone of any strong third-party program.

Spreadsheets Spreadsheets have been the go-to for third-party risk management. However, every organization using them knows that they have their advantages and disadvantages.

How Does Third-Party Risk Management Work? Third-party risk management is a process that helps a business automatically vet potential vendors. IT leaders can run risk assessments through ServiceNow’s ...

When considering risk to your organization, third-party risk should be a top priority.

An analysis of the HPH CPGs outlined similar room for improvement regarding third-party risk management and asset management.