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Transforming Third-Party Risk: From Cumbersome to Constant Vigilance

Transforming Third-Party Risk: From Cumbersome to Constant Vigilance

UpGuard
Pages 12 Pages

Manual third‑party cyber risk management is no longer effective as skilled personnel are costly, spreadsheets create errors, and outdated processes strain resources. Schrödinger, a chemical simulation software company, faced similar challenges when relying on traditional TPCRM methods. Like many organizations, they struggled to manage vendor security amid increasing incidents, reflecting industry findings that manual processes still dominate despite rising risks. Modernizing TPCRM is essential to keep pace with today’s cybersecurity demands.

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