Vendor Risk Management vs Third Party Risk Management vs Enterprise Risk Management: What’s the Difference?

**Executive Summary:** This document provides an overview of Vendor Risk Management (VRM), Third-Party Risk Management (TPRM), and Enterprise Risk Management (ERM), describing the TPRM lifecycle, key risk areas (cybersecurity, compliance, financial, reputational, strategic), best practices (continuous monitoring, prioritizing critical vendors, formal programs), and benefits of using automated TPRM solutions; it references the CDK Global ransomware incident and the MOVEit zero‑day vulnerability as examples but is primarily a high-level guidance and product-focused piece rather than a technical incident report.