Third-party risk management (TPRM) strategies haven’t changed much in the past 20 years, but the third-party risk ecosystem has.
Here’s the major problem with current TPRM practices: They’re largely qualitative, not quantitative. That makes putting a TPRM program into practice a massive struggle, so it comes as no surprise that third-party breaches, leaks, and attacks are on the rise.
Why? Because most organizations are still relying on old-hat methods (cough, questionnaires).
Guess what? We have some new hats for you. In this guide, we’ll dive into five steps you should take to build out and modernize your third-party risk management program, including:
- Determining vendor scope
- Identifying the right risk scenarios
- Calculating financial impact
- Applying resources to the highest risk vendors
- Monitoring continuously for changes
Ready to ramp up defense of your digital supply chain?
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