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Third Party Risk Management
(TPRM)

Comprehensive initial assessments and ongoing monitoring of your third party business partners.

The prevalence and nature of outsourcing key aspects of business operations continues to evolve and increase. Outsourcing can be an enabler for a company to gain access to best of breed products and services, extend capabilities, and/or achieve cost savings. However, outsourcing does not nullify risk nor relieve a company from its obligation to understand its risk exposure and actively manage it. Many organizations struggle with getting started, often informally identifying and reviewing third-party relationships.

Third Party Risk Management (TPRM)
and its role in mitigating risk

Third-party Risk Management (TPRM), covering both vendors and business partners, begins with thorough initial due diligence and carries on throughout the lifespan of the business relationship; with the depth and frequency of third-party reviews being dictated by the significance of the associated risk exposure.

BTB Security has an effective and scalable TPRM practice and can assist organizations in managing their outsourced risk, from initial program development through the running of an in-place, mature, process. By leveraging BTB’s services, organizations can benefit by lowering costs, gaining access to experienced third-party risk assessors, receiving enhanced reporting, and freeing up security staff to work on internal security matters.

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