How Do You Perform a Supplier Risk Assessment? | UpGuard

This article outlines how to conduct supplier risk assessments within third-party risk management, covering key risk categories (financial, compliance, operational, cybersecurity) and steps such as identifying critical assets, setting risk tolerance, leveraging security ratings and questionnaires, tiering vendors, monitoring for data leaks, and performing ongoing reviews. It recommends standardized frameworks (ISO 27001, NIST CSF), continuous monitoring practices, and automation via TPRM platforms, highlighting UpGuard’s capabilities for security ratings, questionnaire workflows, data leak detection, and vendor management.