Third Party Risk Management

Most organizations rely on third-party vendors, suppliers, or service providers to keep their operations running smoothly. However, each external partnership can also introduce hidden vulnerabilities, from data breaches to compliance missteps. IT Audit Labs’ Third-Party Risk Management (TPRM) Solutions help you identify, assess, and mitigate these risks—ensuring that outsourced relationships enhance your business without compromising security and compliance.

By establishing a structured TPRM program, you gain visibility into your supply chain, confidence in your vendors’ security posture, and assurance that you meet regulatory obligations. We tailor our approach to fit your industry, risk profile, and strategic goals, delivering actionable insights that fortify your extended enterprise.

Strengthen Your Defenses Against Third-Party Threats

Supply Chain Attacks
Cybercriminals increasingly target vendors and partners to bypass direct defenses. Effective TPRM minimizes the chance that a breach elsewhere will infiltrate your systems.
Compliance Requirements
Regulations like GDPR, HIPAA, PCI DSS, and ISO 27001 demand due diligence on third parties handling your data. Non-compliance can lead to heavy fines and reputational harm.
Operational Continuity
A vendor’s downtime or security incident can halt your critical operations. Managing these dependencies keeps your organization resilient to outside disruptions.
Brand & Reputational Risk
Customers and stakeholders hold you accountable if a third-party mishap compromises their data or privacy. Maintaining robust TPRM helps protect your brand integrity.

Our Approach to TPRM

Vendor Inventory & Classification

We start by cataloging your existing and prospective vendors, segmenting them based on risk level, data access, and business criticality.

Risk Assessment & Scoring

Using industry frameworks (e.g., NIST, ISO), we evaluate each vendor’s security posture. Key factors include policy maturity, technical controls, compliance, and incident response capabilities.

Gap Analysis & Recommendations

Our team identifies misalignments or weak controls that could create risk. You receive actionable steps—like renegotiating contract terms, requesting compliance attestations, or requiring security fixes.

Ongoing Monitoring

We help implement continuous vendor monitoring, tracking changes in financial health, security posture, or compliance status—so you’re alerted if a previously low-risk partner becomes a significant concern.

Governance & Reporting

We formalize your third-party risk policies, procedures, and responsibilities. Detailed dashboards and reports keep leadership informed, facilitating data-driven decisions about vendor relationships.

what we do

Key Components of Our TPRM Solutions

Risk Scoring Model
A scalable methodology that standardizes how you classify and prioritize vendor risks, ensuring consistent evaluations.
Contractual & SLA Review
Thorough analysis of service-level agreements and contract clauses to confirm liability limitations, data ownership, and incident response requirements.
Vendor Questionnaires & Audits
Customized surveys and onsite audits (where applicable) validate each partner’s actual security posture and compliance claims.
Incident Response Alignment
Ensure vendors have a cohesive plan for addressing breaches. We verify communication protocols, escalation paths, and recovery procedures are in place.
Training & Awareness
Empower your internal stakeholders with best practices, from vendor onboarding and due diligence to contractual safeguards and continuous oversight.

Aligning with Frameworks & Best Practices

NIST SP 800-161 & 800-53
We apply NIST’s guidelines for supply chain risk management, ensuring robust security controls throughout the vendor lifecycle.
ISO 27001
Our approach integrates seamlessly with your Information Security Management System (ISMS), reinforcing organizational and vendor controls.
SIG / Shared Assessments
We leverage standardized third-party assessments for consistent vendor evaluations across multiple risk domains.
GDPR, HIPAA, PCI DSS
We help confirm vendor compliance with industry-specific regulations—minimizing liability and safeguarding sensitive data.

Why Trust IT Audit Labs for Your Third-Party Risk Management?

Realistic Attack Simulations
We leverage manual exploitation techniques—not just automated scans—so you receive a true-to-life depiction of how hackers might compromise your assets.
Transparent Reporting
Our in-depth, risk-based reports provide technical details and executive summaries, ensuring clarity for both security teams and stakeholders.
Certified & Experienced Team
Our penetration testers are accredited in OSCP, CEH, GPEN, and have extensive hands-on experience across finance, healthcare, SaaS, and more.
Remediation Partnership
Need extra assistance in closing gaps or implementing patches? We offer remediation services to help you swiftly address identified vulnerabilities.
Proven Track Record
We’ve helped organizations of all sizes—from startups to Fortune 500 companies—secure their perimeters against sophisticated external threats.

Want to Hear More?

Check out any of our episodes of The Audit Podcast, where we interview the best and brightest in cybersecurity, covering the latest infosec best practices, news, and insights.

Listen to our latest episode!

Protect Your Extended Enterprise Today

Relying on external vendors shouldn’t mean exposing your organization to unnecessary risks. With IT Audit Labs’ Third-Party Risk Management Solutions, you gain end-to-end visibility and control, ensuring that partners uphold robust cybersecurity and compliance standards.