Even before COVID materialized, traditional Third-Party Risk Management (TPRM) practices were struggling to keep pace with today’s business needs.

The expedited roll out of products and processes as a result of our increasing adoption of Agile DevOps strategies proved that these outdated risk assessment practices were too cumbersome and time consuming to handle the increased pace.

In this article, Alpa Inamdar, Head of TPG Advisory, BNY Mellon and John Bree, Chief Evangelist and CRO, Supply Wisdom evaluate the limitations of current TPRM programs and discuss approaches to modernizing TPRM practices.