It takes a lot of complexity management to develop a third-party risk management (TPRM) programme that works. You are likely to get a migraine if you try to list all the specific risks that vendors and suppliers pose to your company.
Technology has become deeply integrated into nearly every aspect of business operations over the past few decades. Companies rely on advanced IT systems and software from cloud computing to artificial intelligence to improve efficiency, cut costs, and gain strategic advantages.
As companies increasingly rely on third parties like vendors, service providers, contractors, and business partners for key functions, they also take on significant cybersecurity risks that these relationships introduce.
The healthcare industry relies heavily on third-party vendors to provide critical products and services. From medical devices and pharmaceuticals to IT systems and facilities management, healthcare organizations partner with a vast network of vendors to deliver quality care.