Best Practices for Trusted Third-Party Risk Management

**Executive Summary:** This document outlines the importance of Third-Party Risk Management (TPRM), highlights the rising risks from vendor and supply-chain relationships (including increased costs and frequency of third-party breaches), and recommends best practices—identify all third parties and their access, prioritize vendors by risk, continuously monitor security posture, automate TPRM processes, and collect consistent structured data—while positioning SecurityScorecard as a solution for automated third-party risk monitoring.