Now Tech: Third-Party Risk Management Platforms, Q1 2022

You can use third-party risk management (TPRM) to catalog, classify, and manage all third-party relationships across the organization; identify and mitigate risk throughout the lifecycle of the relationship; and protect the firm’s compliance, revenue, and reputation from risks stemming from a third party. But to realize these benefits, you’ll first have to select from a diverse set of vendors that vary by size, functionality, geography, and vertical market focus. Risk and compliance professionals should use this report to understand the value they can expect from a TPRM provider and to select one based on size and functionality.