Implementing A Vendor Risk Assessment Process in 2024 | UpGuard

This document is a practical guide to vendor risk assessments, presenting a five-step VRM workflow—due diligence, criticality rating, assessment management, risk framework, and review—along with best practices such as vendor segmentation, standardized security clauses, automated attack-surface scanning, incident response coordination, and stakeholder engagement; it emphasizes using the UpGuard platform to streamline questionnaires, continuous monitoring, and risk-rating-based onboarding and is not an incident report.