Third-Party Risk Management (TPRM)

It is a standard practice for organizations to engage with third parties for the provision of products and services, while third parties help businesses drive efficiency and cost savings measures, organizations in regulated industries continue to rely on the extended third parties to enable mission-critical services, which in turn, can increase business exposures to complex, ever-evolving risks.

With the heightened cost of compliance violations and reinforced regulatory expectations in the third party and/or vendor risk management, it is imperative to have the capabilities at hand to continuously monitor, mitigate, and manage third-party risk and performance.

Our Third-Party Risk Management (TPRM) team at AppsCompliance can help strengthen your TPRM programs and/or functions, systems, and enabling technologies, assessment of your third party/vendor controls, and manage the risk of your Third-Party population. Our TPRM services approach includes:

• Understanding your Third Party ecosystem
• TPRM Governance, Strategy and Policy Development
• Maturity Assessments, Training, and Awareness
• Issue identification and Remediation
• Continuous Monitoring of Risk and Performance
• Defining risk tolerance, control treatments, and transfer techniques.
• 3^rd and 4^th Party Monitoring/Reporting

Find out more about how our Third-Party Risk Management Service can help you assess your enterprise risk management program to enhance your third-party relationships and identify potential cost savings.

Implementation of TPRM Solution service offering.

AppsCompliance TPRM Implementation Services ensure that your TPRM Platform is fine-tuned according to your organization’s unique requirements, that your processes and resources are aligned for success, and that your team is fully trained to leverage the application of choice.

Our services include the below tasks:

• Post-installation validation
• Project management
• Application configuration
• Solution testing and knowledge transfer
• Functional and technical design documentation