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Third party risk management (TPRM) is a structured approach to analyze and control risks arising to the organization from third parties. Mainly third parties are: Vendors Customers Joint ventures Counterparties Fourth Parties Third-party relationships can be a significant source of enterprise risk. The propagation of third-party partners, regulatory pressure, and the complexity of cyber-related risks has led companies to dedicate more time and attention to the potential risks by third parties. They enable companies to be flexible and competitive in a global business environment. These relationships often allow companies to delegate important tasks so that they can focus on their core competencies. With the benefits gained from third parties comes related risks that pose significant threats to a business, such as cyber breaches, business continuity challenges, or reputational damage.
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LICENSING & DEPLOYMENT
- Cloud Hosted
- Web-based
SUPPORT
- Phone
Knowledge Base
- Help Guides
- Webinars
Third Party Risk Management Core Features
- Alerts/Notifications
- Auditing
- Exceptions Management
- IT Risk Management
- Reputational Risk Management
- Response Management
- Risk Assessment
Third Party Risk Management Pricing
Pricing Type
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Flat Rate
Free Version
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Yes
Payment Frequency
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Annual Subscription
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Free
Vendor pricing page
-
30 Days Trial
Plans & Packages
Standard
$750 Per Year
Third Party Risk Management Reviews
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