Third Party Risk Management

Organisations wanting to make real improvements must gain operational command of the security posture and risk of their third parties.

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Third Party Risk Management (TPRM) involves assessing and mitigating risks associated with engaging external vendors, partners, or service providers. It ensures that third parties handling sensitive data or critical operations adhere to security and compliance standards. TPRM includes evaluating the third party’s cybersecurity posture, monitoring their ongoing compliance, and managing contracts to align with organisational risk tolerance.

By implementing robust TPRM processes, organisations can reduce the likelihood of data breaches, financial loss, or regulatory penalties caused by third-party vulnerabilities.

Effective TPRM also fosters stronger, more secure partnerships, ensuring that external collaborations do not compromise the organisation's integrity.

Comprehensive Third Party Risk Management requires regular assessment of your vendor population to ensure that it is being properly managed and that vendor maturity is improving over time.

Our team provides expert industry advice to help you manage your security reputation and accelerate your third-party risk management programme.

What's involved?

Increase understanding of business risk and identification of risk mitigating factors
Identification of a list of third parties across business functions
Classification of the Third Parties based on their risk profile

Identification of risk to which your organisation is exposed based on the service(s) provided by the third party
Utilisation of common industry methodology to identify the compliance requirements and assess current level of compliance

Challenges addressed by Third Party Risk Management

No common guidelines for managing third party risk
Risk of reputational damage should an event occur at your third-party
Incomplete population of vendors with sensitive data
Increased focus on securing customer personally identifiable information (PII)
Inconsistent risk assessment and review practices across organisation

Third-party failure to comply with a required regulation
Third-party failure to maintain continuation of business as usual (BAU) for your organisation
Risk of doing business in a specific country including legal/regulatory, geo-political and social-economic considerations
Risk of financial loss due to third-party failure or non-performance

Gartner Recognised

We are thrilled to share that Integrity360 has been recognised as a Gartner Representative Vendor in 4 of their Market Guides, including: Managed Security Services, Managed Detection and Response and Managed SIEM Services.

Gartner has included a range of providers within its market guide for managed services to ensure clear coverage from a geographical, vertical and capabilities perspective. Those included in the Gartner market guide display clarity in the vision for an end-user outcome-focused offering distinct from a pure technology-driven offering.

Gartner Market Guide