Riskpro Reviews

Riskpro Description

Third party risk management (TPRM), is a structured approach to manage and control risks that may arise to an organization from third parties. Third parties include: Customers, Vendors, Counterparties and Fourth Parties. Third-party relationships can pose a significant risk to an enterprise. Companies have been forced to pay more attention to potential cyber-related risks due to regulatory pressure and the proliferation of third-party partners. They allow companies to be competitive and flexible in a global business environment. These relationships allow companies to delegate tasks so they can concentrate on their core competencies. The benefits of third parties can also come with risks that pose serious threats to a company, such as cyber attacks, business continuity challenges, and reputational damage.