Third Party Risk Management (TPRM)

Defentrix is an Information Security & Third Party Risk Management company offering tailor-made solutions to cater for the unique and challenging needs of security first businesses

Third Party Risk Management (TPRM)

The most common definition of Third Party Risk Management (TPRM) is a process that enables an organization to mitigate risks (Inherent and Residual) that Third Parties bring while supporting the business and solving business problems or requirements. TPRM, typically a function falls under the umbrella of Enterprise Risk and the TPRM policy drives the whole program. A well-defined and comprehensive policy conveys the seriousness with which the top management intends to implement, manage and commit to support the program. In today’s day and age, organizations have an unfathomable reliance on Third Parties to (but not limited to) support their operations, and client requirements, solve business challenges, and explore business opportunities. This policy should be published to every individual, business manager and senior management who is involved in the onboarding process of the Third Party.

The purpose is to build a risk aligned and scalable TPRM program to understand the security practices and ensure Third Parties meet the security standards of your organization while being compliant with local laws and regulations to operate within the risk tolerance levels defined in your organization, thus helping Business to securely consume products or services. This helps in safeguarding the security interest and assist business in making risk-informed decisions. The process should be repeatable and mature to support automation, innovation and optimization.

Ideally, the scope of Third Party Risk Management (TPRM) program is to identify, address and monitor the Risk Exposure by new, existing and Legacy Third Parties.

TPRM Lifecycle which at a high level involves managing onboarding, engaging with multiple teams for due diligence, engaging with Third Parties, Contract Management and Secure Off-boarding is the responsibility of Procurement (also called “Commercial” teams). Other teams that generally get involved are Privacy, Legal, Business verticals (Health care, life sciences), Corporate Functions (IT, HR, Ethics & compliance, ESG) and Data Governance which play a key role in the entire process.

Defentrix TPRM Services


Security Due Diligence


Contract Reviews

Continuous Performance Monitoring

Termination and Offboarding

TPRM Audit

TPRM Maturity Assessment

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Latest Resources

2024 Leadership Vision for Third Party Risk Management (TPRM)

2024 Leadership Vision for Third Party Risk Management (TPRM)

CISOs have a diverse array of rapidly evolving priorities, threats, demands, regulatory pressures, and technology changes to address. Leaders need a structured approach to today's security and risk landscape covering third-party risk. This blog sheds light on...

TPRM Awareness, upskill and cross skill

TPRM Awareness, upskill and cross skill

The security world is very diversified, with the majority of the organizations practicing defensive security while a few have adopted offensive security as well. Security professionals need to keep abreast with developments in Third Party Risk Management space and...

DPDP Act 2023 (India) and Third Party Risk Management (TPRM)

DPDP Act 2023 (India) and Third Party Risk Management (TPRM)

The impact of globalization, social networking, outsourcing, adoption of cloud and technologies, cross border data flows are some of the prominent reasons why data collection and sharing is ubiquitous in this digital age. Many countries have realized the importance of...