8 Third-Party Risk Management Challenges + Solutions and Tips | UpGuard

This report outlines the top ten challenges in third-party risk management — including identifying cybersecurity risks, managing the volume and complexity of vendor relationships, due diligence and risk tiering, lack of visibility, regulatory compliance, continuous monitoring, ecosystem mapping, remediation prioritization, questionnaire reliability, and the need for automation — and recommends practices to mitigate these issues. It presents UpGuard Vendor Risk as a comprehensive platform that centralizes vendor inventory, provides continuous monitoring and security ratings, maps compliance to standards, automates questionnaires, and supports remediation workflows to reduce TPRM exposure.