Some TPRM programs are still missing the forest for the trees.
A Whitepaper Infographic by Prevalent, A Health-ISAC Navigator
In early 2024, Prevalent conducted a study of trends, challenges, and initiatives impacting third-party risk management (TPRM) practitioners worldwide. The results indicate that many TPRM programs “miss the forest for the trees,” as they struggle to meet the broad needs of different stakeholders, sufficiently cover large vendor ecosystems, and address risk at every stage of the third-party lifecycle.
Recommendations Third-party risk management is achieving enterprise-level visibility and importance in the face of growing third-party cybersecurity challenges, but many programs struggle with manual processes that limit risk, lifecycle, and vendor coverage. Here are three actionable steps to improve TPRM.
Create cross-functional teams
and establish clear TPRM
ownership to ensure that
remediations are enforced
Automate TPRM processes
around a single platform to
unify teams, data, and the
risk lifecycle
Close the resource and skill
gap with outsourced
managed services or artificial
intelligence capabilities
