Integrated Risk Management
Third Party Risk Management
Effective Third Party Risk Management (TPRM) managed services solution ensures that third-party relationships do not introduce vulnerabilities, helping organizations maintain robust security and compliance standards while leveraging external expertise and resources.
Stay Assured With Comprehensive Third Party Risk Management Services
Every year businesses are more and more dependent on digital platforms to provide and manage their products and services. Supply chain eco-system is a major contributor to the success of delivering effective business outcomes. Given the complexity, cost pressures and competency demands, organizations are looking to outsource services to various third parties where they can focus and invest more on their businesses rather than investing on developing everything inhouse.
Navigating The Challenges Of Your Extended Enterprise
- Lack of accurate third-party vendors’ information about online systems and processes
- Frustration with generic approach and growing demands on their time to respond while mitigating key risk areas
- Speed of Risk TP Assessment process
- Cost of onsite assessment and follow-ups
- Unclear responsibilities within the organization
- Lack of automation and continuous monitoring
- Inability of existing assessments to accurately quantify cyber risk levels
What Inspira Provides
1
Due Diligence helping classify your third parties
2
Risk Profiling to identify the impact of TP to your business
3
Risk Assessment with different execution models
4
Outside-in view services to continuously monitor your third-party posture
5
Managed Third Party Lifecycle Services
6
Risk Mitigation & Roadmap
Framework
Execution Approach
- Define Third Party Risk Management framework
- Assessment Methodology base lining
- SIG (Supplier Information Gathering), template creation/validation
- Gather third party profile data
- Third party data inventory and classification
- Conduct LITE and Integrated assessments for low and medium risk third parties
- Perform onsite assessments for High risk parties
- Manage third party risk register across third party risk assessment program
- Track remediation of control weaknesses
- Ad-hoc and on demand reports and metrics
- Ongoing monitoring & reporting of compliance
Integration with other GRC Platforms
- Pre Assessment
- Assessment / Evaluation
- Remediation & Closure
- Reporting
Supported Use Cases
Simplifies and Secures
- Aggregated cyber risk score for every third-party service provider and vendor based on the assessment of the cyber environment
- Alerts on issues exceeding risk thresholds, not just a general listing of all issues uncovered
- Downloadable detailed reports on all uncovered vulnerabilities
- Benchmarking of third-party service providers and vendors against standardized compliance frameworks and amongst one another
- Actionable risk plans are easily shared with third-party service providers and vendors through collaboration
| ROI | 147% Return On Investment | 70% Audit Cost Reduction | Real Business Value Achieved By Our Clients | |
| Time | 3 Weeks Fully Operationalized Implementation | 20% Onboarding Speed Increase | 150% Increased Analyst Productivity | 35% More Organization Assessed |
| Risk | 70% Remediation Success Rate | 62% Self-score Increase | 50% Overall Risk Reduction | 30% Third-party Score Increase |
Supported TPRM Use Cases
New Vendor Onboarding
Own Enterprise Posture Monitoring
Benchmarking
Vendor Assessment
Supply Chain Management
Continuous Monitoring
Contact Us For A Customized Briefing Session
