A 2025 Guide to Third-Party Risk Management (TPRM): Safeguarding Your Digital Ecosystem
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In today’s interconnected world, businesses thrive on third-party relationships—whether it’s a cloud service provider, logistics partner, or IT support vendor. But with these benefits come significant risks. That’s where Third-Party Risk Management (TPRM) steps in. TPRM is the process of identifying, assessing, and mitigating the potential risks that third-party vendors pose to your organization’s data, operations, and reputation. As digital transformation continues to surge, the 2025 landscape demands an evolved approach to third-party risk—one that is proactive, strategic, and continuously adaptive. What is a Third Party? A third party refers to any external organization or individual that interacts with your business, including: Vendors and suppliers Software as a Service (SaaS) providers Contractors and consultants Business partners Resellers and distributors Financial service providers These entities may have direct or indirect access to sensitive systems...