Cyberattacks caused by supply chain vulnerabilities mean organizations need a renewed perspective on how to address third-party security.
In a developing market, third-party risk management (TPRM) software and tools could be the answer to helping organizations fill the gap. Also known as vendor risk management (VRM), TPRM goes beyond the general risk management and governance, risk, and compliance (GRC) solutions by specializing in the onboarding, risk assessment, and due diligence for organizations working with third parties.
This article looks at the top third-party risk management vendors and tools and offers a look into TPRM solutions and what buyers should consider before purchasing.
Best Third-Party Risk Management (TPRM) Tools
Aravo TPRM
Launched in 2000 to address the growing need for enterprise supplier management, Aravo Solutions now offers SaaS-based supplier information management (SIM) technology. Aravo’s TPRM solution offers three product tiers (Express, Standard, and Advanced) for a range of organization complexity needs. Additional features include intake of new vendors, automating risk assessments, and conducting due diligence.
On Gartner…
