Third-Party Risk Management (TPRM) Managed Services

Brief Overview

Third-party risk management (TPRM) is the process of identifying, assessing, and mitigating the risks associated with an organization’s interactions with external entities. These entities can include suppliers, contractors, cloud service providers, consultants, and any other entity that conducts business with or on behalf of the organization. TPRM evaluates and manages potential cybersecurity risks associated with these external parties’ activities, systems, processes, and data.

TPRM Components

Third-Party Risk Management (TPRM) is a critical discipline that ensures these risks are identified, assessed, and mitigated effectively. Here are the key components of a robust TPRM program.

Identification

The initial step of identifying all third parties involved in the organization's operations.

Assessment

Evaluating the potential risks associated with each third party. This includes cybersecurity, financial, reputational, and compliance risks.

Monitoring

Continuously tracking third-party activities and performance to identify emerging risks.

Contractual Agreements

Incorporating risk mitigation measures and security requirements into contracts with third parties.

Incident Response

Developing and testing plans to respond to and recover from security incidents involving third parties.

Benefits to the Organization

Third-Party Risk Management (TPRM) offers a multitude of benefits that extend beyond simply mitigating security threats. By implementing a robust TPRM program, organizations can gain a competitive edge, improve their bottom line, and enhance their overall business performance.

Improved Security Posture

By identifying and mitigating risks from third parties, organizations can significantly enhance their overall security posture.

Reduced Financial Losses

TPRM helps prevent costly data breaches, financial fraud, and operational disruptions caused by third-party incidents.

Enhanced Reputation

Demonstrating a commitment to responsible third-party risk management can enhance an organization's reputation and build trust with customers and stakeholders.

Increased Compliance

TPRM helps organizations comply with relevant regulations and industry standards, such as GDPR, CCPA, and NIST Cybersecurity Framework.

Improved Business Continuity

By ensuring the resilience of third-party relationships, TPRM helps organizations maintain business continuity and minimize disruptions in case of an incident.

Better Decision Making

TPRM provides valuable insights into the risks associated with third parties, enabling organizations to make more informed decisions about their business relationships.

Why Azpirantz?

Customized Solutions

We believe that no two organizations are alike. We begin by thoroughly understanding your specific needs to develop tailored solutions that address your unique challenges. Our approach is innovative and personalized, unlike copy-pasting one-size-fits-all templates.

Flexible Solutions

We establish a flexible framework that supports expansion of a wide range of compliance requirements, such as PCI-DSS, SOC2, SOX, GDPR, HIPAA, and others, to meet your organization's current and future needs.

Integrated Solutions

We offer integrated solutions to reduce the effort and cost of operating multiple compliance frameworks. We integrate management systems from various domains, such as information security, data privacy, business continuity, quality, maturity models, etc.

Empower Your Team

We collaborate with your team and empower them through comprehensive training and knowledge transfer and enable them to effectively implement, operate, and maintain the solutions we deliver.

Extended Support

We offer ongoing support and are committed to addressing any questions or concerns your team may have while implementing or operating our solutions for an extended period after delivery.

Industry Experience

With over two decades of industry experience in different domains, industries, and geographies, we provide practical and sustainable solutions that align with your business objectives.

Qualified Team

Our team boasts a wealth of experience and holds numerous industry-recognized certifications, including CISSP, CIPM, CIPP, CISM, CCSP, CGRC, CDPSE, CISA, CRISC, OSCP, CEH, and many more.

Managed Service

Our commitment to your success extends beyond the project delivery. We provide full operational support for an added peace of mind that enables you to concentrate on your strengths while we handle the complexities.

Words Have Power

Azpirantz has been instrumental in enhancing the overall security posture of our company. Their expertise enabled us to safeguard sensitive data, including client accounts and transactions. The team delivered clear, tailored solutions that seamlessly addressed our security needs, making complex concepts easy to understand. Their guidance has been pivotal in strengthening our core.

Pushpendra | Sony India

Azpirantz played a crucial role in strengthening our bank’s cybersecurity infrastructure. Their tailored approach not only fortified our systems but also ensured compliance with industry-specific regulations. We trust their expertise to safeguard our operations against evolving cyber threats.

Anand | HDFC BANK

For our retail business, protecting customer data is a top priority. Azpirantz reinforced our payment systems and implemented robust cybersecurity measures, ensuring our data remains secure and our operations uninterrupted.

Twinkle | TATA Nexarc

As a technology company, data security is vital. Azpirantz has consistently delivered proactive, advanced security solutions, allowing us to concentrate on innovation while they protect our digital infrastructure.

Pitchairaj | Paramountassure