Third-Party Risk Management (TPRM)

Improve Trust, Resilience and Compliance Through

Sapphire’s Third-Party Risk Management

Organisations today increasingly rely on third-party suppliers for essential service and products. While these relationships are integral to operational efficiency and innovation, they introduce many risks that can impact an organisations financial health, reputation and compliance status.

This is where Third-Party Risk Management (TPRM) comes into play, offering a strategic framework to identity, asses, mitigate and monitor risks associated with third-party relationships.

Helping our Customers Improve Trust.

TPRM addresses several risks, including cyber security threats, data breaches, and operational disruptions. Legal non-compliance and reputational damage. In an area where data privacy and security are paramount, a breach or compliance failure by a third party can have dire consequences for a company, both financially and legally. 

01 Comprehensive Risk Assessment.

With ever-evolving regulations, particularly in data protection and privacy, TRPM ensures that third-party vendors comply with relevant laws and standards, thus safeguarding the company from legal penalties and reputational harm.

02 Technology and Expertise.

Advanced technology and specialised expertise are critical components of an effective TPRM strategy. Sapphire utilises cutting-edge risk assessment, monitoring and reporting tool, ensuring a proactive approach to risk management. Our expertise spans diverse industries, offering insight and strategies tailored to your company’s needs.

03 Cost Effective Risk Management.

Outsourcing TPRM can be more economical than developing in-house capabilities using an internal team, allowing you to concentrate on your core business operation and fostering growth and innovation. 

With over 25 years of expertise

With more than 25 years of experience delivering cyber security consulting and managed security services, Sapphire has witnessed a significant increase in the legislation, regulations, and international standards governing third-party risk management (TPRM). At the same time, cyber criminals are increasingly exploiting trusted supplier relationships to gain access to organisations, resulting in costly data breaches and operational disruption. As organisations look to improve business resilience, effective third-party risk management has become a critical part of any cyber security strategy.

Sapphire recognises that not all third-party suppliers present the same level of risk. Through an initial consultation, our cyber security specialists work with organisations to identify the appropriate level of assessment for each supplier based on the criticality of the services they provide. This tailored approach helps organisations focus resources where they can have the greatest impact.

Our TPRM platform has been developed to provide granular levels of supplier risk assessment, enabling organisations to prioritise third-party risks more effectively. As a provider of customised cyber security solutions, Sapphire helps businesses gain greater visibility into their supply chain and make informed risk-based decisions.

Following the assessment stage, Sapphire manages the distribution, collection, review, and validation of supplier assessments. These are analysed by our subject matter experts to provide a prioritised risk profile for each supplier, helping organisations strengthen cyber resilience and address the most significant risks first.

Using our AI-driven portal, suppliers can complete assessments quickly and efficiently, while your organisation benefits from streamlined oversight, continuous monitoring, transparent reporting, and improved third-party risk management across the supply chain.

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