Published: 19 December 2022
The market for third-party risk management solutions addresses multiple domains with specialization for various business functions such as supply chain risk and compliance. Sourcing, procurement and vendor management leaders can use this research to identify solutions to address their objectives.
The market for third-party risk management (TPRM) solutions remains highly fragmented, leaving companies to make compromises in their search for a best-fit solution.
Organizations typically use a collection of solutions and risk domain insight that is leveraged by different teams across enterprise risk, compliance, procurement, supply chain, IT, cybersecurity and other business functions.
Many solution providers are investing in cross-functional collaboration, productivity and integration capabilities, to allow customers to better manage risk domains that cross multiple functions and stakeholders.
Organizations investing in third-party risk management solutions should:
Perform a gap analysis of existing TPRM capabilities versus requirements by reviewing your current
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