In 2022, many organizations are re-emphasizing the importance of effective third-party risk management (TPRM) due to recent third-party security breaches including SolarWinds, Kaseya, Accellion, and Microsoft. Though the risks to data and information security, regulatory compliance, financials, and organizational brand/reputation are increasingly clear, most businesses are still struggling to get TPRM right.
A 2021 AuditBoard survey of over 800 risk and compliance professionals found nearly 37% rated their business’s third-party risk program maturity as either nonexistent or simply reactive. As such, there is no better time than the present to strengthen TPRM practices. Effective Third-Party Risk Management: Key Tactics and Success Factors explores key third-party risk management principles, as well as practical tips for building a successful TPRM program.
Download the full guide to learn key tactics and success factors for TPRM , including:
- Common third-party risk management program components, as well as common gaps and obstacles.
- Third-party risk identification, discovery, and risk categorization tactics.
- Best practices for creating a continuous monitoring environment.
- Guidance for effective issue management and reporting.