What Is Third-Party Risk Management? TPRM Clearly Explained
What Is Third-Party Risk Management? TPRM Clearly Explained
18 PagesThird‑Party Risk Management is the process of identifying and reducing risks that arise when organizations outsource services to external vendors. These risks span security, financial, operational, reputational, and environmental areas because vendors often access sensitive data such as intellectual property, PII, and PHI. Since third‑party relationships are essential to business operations, TPRM becomes a critical part of every cybersecurity program, ensuring that outsourced partners do not introduce vulnerabilities that could compromise the organization.
