Third Party Risk Monitoring

In the Press: Elevate Your Third-Party Risk Management Program to a Competitive Advantage

Supply Wisdom Team Written by Supply Wisdom Team

tprm-multi-category-risk-focus

June 15, 2020

There is no doubt that third-party cyber-susceptibility is one of the biggest threats companies face today. However, it’s important to recognize, cyber is not the only third-party threat that can result in a significant disruption of services. If cyber-risk is seen in isolation, a significant part of the third-party risk landscape is missed. Companies can elevate their risk management practices by making four improvements to realize the competitive benefits of a strong Third-Party Risk Monitoring (TPRM) program.

In this article, John Bree, CRO and Chief Evangelist at Supply Wisdom, writes about why a comprehensive third-party risk framework should go beyond cyber and financial to include several key risk categories.