Third-Party Risk Management (TPRM)
A single weak third-party can compromise your entire organization’s security.
Third-Party Risk Management (TPRM) is a critical defense layer for your business that goes beyond simple compliance. Since cyber breaches increasingly stem from third-party vendors, a well-executed TPRM program is essential. It involves proactively identifying, assessing, and managing the external risks that come from relying on vendors. For any organization that handles sensitive data or depends on third parties, TPRM is non-negotiable.
Why Do You Need TPRM?
A robust TPRM program is a crucial strategy helping uncover vulnerabilities in your vendor ecosystem before they can impact your business. Proactive identification of vendor risks isn’t just good practice; it signals to your clients that you prioritize their data security and operational resilience, building trust and strengthening your reputation as a reliable partner.
Accorian’s Two-Fold TPRM Coverage
Accorian’s Third-Party Risk Management (TPRM) service, powered by our GRC tool GoRICO, offers a two-fold solution with an automated, end-to-end framework to proactively manage vendor risks and streamline security questionnaire responses, helping to protect your business against evolving third-party threats.
01
Client Confidence and Trust
A prompt, clear, and comprehensive response to security queries assures clients that you take their data security seriously, fostering stronger relationships and demonstrating a mature security posture.
02
Direct Revenue Impact
Delays or unsatisfactory responses to security inquiries can stall or even derail potential deals, directly impacting your sales pipeline and revenue generation. Conversely, strong, timely responses can accelerate deal closures.
03
Competitive Advantage
In a competitive market, organizations with transparent and effective security practices, as evidenced by their ability to answer security queries thoroughly, stand out and gain a significant competitive edge.
04
Reduced Audit Burden
Having readily available, accurate answers to security questions can simplify and expedite your own security audits and compliance checks, as much of the information required is already documented.
Why Is Gaining Insights Into Your Vendors’ Security Posture Critical?
Enhance Risk Visibility & Maintain Operational Resilience
Gain actionable insights into a vendor’s security and operational resilience to support informed decision-making and proactively prepare for potential vendor failures like system outages or financial instability.
Preventing Supply Chain Attacks
A thorough assessment help identify and remediate these weaknesses before they can be exploited to compromise your organization and protect your sensitive data.
Ensure Regulatory Compliance
Align with industry standards and frameworks such as SOC 2, ISO 27001, HIPAA, and GDPR through structured third-party oversight.
Safeguarding Reputation and Brand
Protect your brand and customer trust from potential reputational damage caused by vendors security incidents or unethical practices.
Our Purpose-Built GRC Tool
GoRICO’s dedicated TPRM module provides a complete, end-to-end solution that automates and streamlines the entire third-party risk management process. It handles the entire vendor lifecycle—from onboarding, automated classification, and multi-level assessments based on vendor criticality, to continuous monitoring for proactive risk mitigation.
Experience the impact of smarter vendor risk management with a free trial of our GoRICO-powered TPRM service. Interested in a quick demo to see how it can benefit your organization?
Holistic Vendor Lifecycle Management
Centralize and streamline vendor management from onboarding and inventory to automated classification and offboarding.
Insightful Dashboards & Analytics
Make data-driven decisions by leveraging real-time visualizations that provide a clear and enhanced view of your vendor landscape.
Dynamic Risk Assessment
Utilize multi-level assessments with customized questionnaires to evaluate vendor criticality effectively.
Automated Communication
Streamline workflows with automated email communications and reminders for all stakeholders.
Access Our All-In-One TPRM Brochure
TPRM Brochure
Case Study
CHALLENGE
The client, a SaaS marketplace with over 10,000 geographically dispersed vendors, lacked visibility into their vendor ecosystem and a robust TPRM program. This absence made it difficult to effectively evaluate and mitigate vendor risks, ensure security compliance, and optimize operational efficiency. Additionally, also often struggle with manual and inconsistent responses to client security questionnaires, which leads to stalled deals and negatively portraying the security maturity.
INDUSTRY:SaaS Marketplace | VENDORS:10,000+ Geographically Dispersed Vendors & Third Parties
SOLUTION
Accorian's vSecurity team implemented a two-phase Vendor Management Program for this client:
Buyside - The solution involved classifying and prioritizing the client’s active vendors by conducting a comprehensive vendor discovery and analysis. We then focused on automated vendor assessments based on criticality, leveraging our GRC tool GoRICO to streamline due diligence questionnaires, collecting and analyzing response, reporting, dashboard and define clear workflows for risk management.
Sellside - As a part of our overall service, we also serve as an extended security response team to manage incoming due diligence requests, customer security questionnaires, and partner assessments with speed, accuracy, and consistency through creation of a Master Knowledge base.
RESULT
The client now has complete visibility into their vendor ecosystem through a robust, automated Third-Party Risk Management (TPRM) program, resulting in efficient risk management, continuous security compliance, and an overall stronger security posture. Our inbound service helped the client accelerate responses to security inquiries, speeding up deal closures and sales. This also gave them a competitive advantage and demonstrated a mature security posture.
Why Choose Accorian?
Accorian’s unique methodology combines automation with human expertise. Our GRC tool, GoRICO, automates and streamlines processes, while our specialists—with experience from over 100,000 vendor audits—provide invaluable, context-specific insights that automated findings simply can’t driving real measurable impact. We offer:
- Risk-based discovery and classification to prioritize high-impact vendors
- Tailored reviews from industry experts, not just automated results
- Operational efficiency through custom workflows and accelerated scoring
- Actionable reporting and dashboards for key stakeholders
- Continuous monitoring with automated scheduling and updates
With Accorian & GORICO together, you can get to know your overall vendor security posture within just 30 days. Our platform is built to scale easily, from hundreds to thousands of vendors.
At Accorian, our Third-Party Risk Management services are designed to identify and mitigate risks associated with your vendors and partners. By thoroughly assessing third-party relationships, we uncover potential vulnerabilities and ensure compliance with industry standards. Our comprehensive findings and tailored recommendations help clients strengthen their risk management strategies, ensuring robust protection against evolving threats.
