How a TPRM Software Can Transform Third-Party Risk Management

A third party is any external entity your organisation does business with: suppliers, manufacturers, distributors, agents or partners. Each one can open a security breach or a compliance failure, and the more you have, the larger your attack surface.

This guide explains what third-party risk management (TPRM) is and how software helps you identify, assess and mitigate those risks. It is aimed at executives and risk management professionals evaluating a solution.

Why it matters now

According to the figures in the guide, 80% of organisations suffered a supply chain disruption in 2023 and 88% have little confidence in the quality of their TPRM process. Regulations such as the GDPR and DORA have also raised the bar on what is expected for third parties.

What's in the guide

1. What TPRM isWhat counts as a third party, why control and visibility over them is lacking and what a structured approach brings.
2. Unified inventorySupplier approval and categorisation, bulk upload and syncing with other applications.
3. Continuous assessmentSurveys based on supplier criticality, evidence review, an adjustable scoring methodology and action plans.
4. Incident managementWorkflows that link each incident to the third party behind it so you can respond fast.
5. Three case studiesA financial company that cut assessment time by more than 40%, a multinational with over 500 suppliers in one place and an entity subject to DORA.

How GlobalSuite® helps

The guide walks through the features of GlobalSuite® TPRM and what they bring day to day: less manual work in assessments, information from every department in one place and a shared repository of your third parties' compliance evidence.