What is TPRM?
While many large organizations, otherwise known as enterprises, have no need to ask this question. Many other organizations, including third party vendors, may be less familiar with third party risk management.
To address this knowledge gap, ThirdPartyTrust has released a TPRM strategy guide equally useful to enterprises and third party vendors. The guide is available for free download, and both introduces the most common problems organizations face when starting or scaling their TPRM solutions, and connects those problems to tried and true solutions.
Vendor Risk Management
The strategy guide addresses how security assessments most commonly involved in vendor risk management processes are everyone’s business. The sending out and sending back of common questionnaires is a tedious task for both enterprises and third party vendors. Fortunately, there is a common solution to assuage the work on both ends of the process.
The strategy guide introduces readers to the Network Approach, which is a unique approach to TPRM that involves enterprises taking advantage of a single risk dashboard to review and engage third party vendors. Meanwhile, third party vendors can use the approach to create a single security profile that can easily be shared and updated with enterprises. The result is a simple and scalable solution to TPRM that not every software application possesses.
Fortunately, ThirdPartyTrust is the only TPRM solution born of the Network Approach. Readers of the guide can learn about this unique approach, and decide if the Network Approach is an answer to their most pressing third party risk management problems.
The strategy guide is available for free now on the ThirdPartyTrust Resources page.
