Third-Party Risk Management
HomeTechnology ServicesThird-Party Risk Management
Vendor Risk Lifecycle Governance

Third-Party Risk
Management (TPRM)

A structured, risk-based approach to identifying, assessing, managing, and continuously monitoring risks introduced by your ecosystem of vendors, suppliers, partners, and outsourced service providers.

Risk SegmentationDue DiligenceContractual SafeguardsContinuous MonitoringRegulatory Alignment
63%
of organizations experienced a third-party related data breach in the past 12 months
Full Lifecycle Coverage (Onboard → Exit)
DPDPA, ISO 27001 & NIST CSF Aligned
Risk-Tiered Approach
Why Third-Party Risk Management

Your Ecosystem. Your Risk. Your Responsibility.

Organizations increasingly rely on third parties for critical services, data processing, and technology infrastructure. Each external relationship introduces potential risk—cybersecurity, data privacy, operational resilience, financial stability, and regulatory compliance. When a vendor fails, the consequences extend to you.

iGlobus TPRM consulting provides a structured, risk-based approach to managing third-party risk across the entire lifecycle—from onboarding and contracting to ongoing oversight and exit. Our engagement aligns with DPDPA, ISO/IEC 27001, and NIST Cybersecurity Framework, ensuring your third-party engagements meet expectations for data protection, security controls, incident management, and auditability.

"Your third-party risk is your risk. A proportionate, risk-tiered TPRM program transforms vendor management from a reactive burden to a strategic governance capability."

TPRM Lifecycle Domains

Comprehensive coverage across the vendor relationship lifecycle:

Inventory & Segmentation
Comprehensive vendor inventory, risk-tiered classification (Critical, High, Medium, Low)
Due Diligence & Assessment
Questionnaires, evidence validation, risk scoring, on-site/remote audits
Contractual Safeguards
Data protection clauses, breach notification, right to audit, subcontractor controls
Continuous Monitoring
Security ratings, threat intelligence integration, periodic reassessments
Offboarding & Exit
Secure data return/deletion, access revocation, contract termination
Our Methodology

Structured TPRM Framework

Building a sustainable, risk-proportionate third-party risk management program.

Third-Party Inventory & Segmentation

Establish comprehensive inventory of all vendors, suppliers, and partners with risk-based tiering.

  • Vendor discovery & cataloging
  • Risk segmentation (Critical, High, Medium, Low)
  • Data sensitivity & access mapping

Due Diligence & Risk Assessment

Conduct proportionate assessments based on vendor risk tier, covering security, privacy, and compliance.

  • Standardized questionnaires
  • Evidence-based validation
  • Risk scoring & prioritization

Contractual Risk Transfer

Strengthen legal safeguards with enforceable third-party clauses and accountability mechanisms.

  • Data protection & confidentiality
  • Breach notification & right to audit
  • Subcontractor & termination clauses

Continuous Monitoring

Implement ongoing oversight to detect changes in vendor risk posture in near real-time.

  • Security ratings & threat intelligence
  • Periodic reassessments
  • KPI & SLA tracking

Incident & Breach Management

Establish protocols for third-party incident reporting, investigation, and remediation.

  • Vendor breach notification workflows
  • Incident coordination & escalation
  • Remediation verification

Offboarding & Exit Management

Ensure secure transition and data disposition at contract termination.

  • Data return/deletion certification
  • Access revocation verification
  • Final risk assessment
Risk-Based Segmentation

Proportionate TPRM Approach

Not all vendors pose the same risk. Our tiered approach applies appropriate rigor based on criticality.

Critical TierAccess to sensitive data, critical systems, core business operations. Full due diligence, on-site audits, continuous monitoring.
High TierLimited data access, important but non-critical functions. Standard due diligence, annual reassessments.
Medium TierNo sensitive data access, supporting services. Lightweight assessment, periodic review.
Low TierCommodity services, no data/system access. Exceptions-based monitoring.

Regulatory Compliance

Meet DPDPA, ISO 27001, and sectoral third-party requirements

Holistic Risk Visibility

Complete view of vendor risk exposure across domains

Proactive Risk Mitigation

Detect and address vendor risk before incidents occur

Audit-Ready Documentation

Comprehensive evidence for regulatory examinations

Operational Resilience

Ensure continuity through critical vendor oversight

Contractual Accountability

Enforceable safeguards with right-to-audit provisions

TPRM Governance Team
Why iGlobus for TPRM

Vendor Risk Lifecycle Specialists

iGlobus combines deep third-party risk expertise with regulatory knowledge and practical implementation experience. Our consultants have helped organizations across industries build sustainable TPRM programs that balance risk mitigation with operational efficiency—ensuring external dependencies strengthen rather than compromise your security posture.

Full lifecycle TPRM expertise
DPDPA & ISO 27001 third-party requirements
Vendor risk segmentation & tiering
Standardized assessment frameworks
Contractual safeguard templates
Continuous monitoring integration
Build Your TPRM Program
Common Questions

Third-Party Risk Management FAQs

Essential answers about building and operating a TPRM program.

Vendor due diligence is a point-in-time assessment conducted before onboarding. TPRM is a continuous lifecycle program covering pre-onboarding due diligence, contracting, ongoing monitoring, incident management, and offboarding. While due diligence is a component of TPRM, a mature TPRM program provides continuous visibility into vendor risk posture, detects changes over time, and enables proactive risk mitigation throughout the entire vendor relationship.

Risk tiering is based on a weighted scoring model considering: (1) Data sensitivity—what data the vendor accesses (PII, financial, intellectual property), (2) System criticality—impact of vendor failure on business operations, (3) Regulatory exposure—compliance requirements applicable to the vendor relationship, (4) Geographic risk—data residency, legal jurisdiction, and (5) Vendor inherent risk—security maturity, financial stability, subcontractor reliance. Tiers determine assessment frequency and depth.

Our TPRM consulting aligns with: (1) DPDPA 2023—obligations for data fiduciaries regarding processor due diligence and contracts, (2) ISO/IEC 27001:2022—Annex A control 5.19 (Information security in supplier relationships), (3) NIST Cybersecurity Framework—ID.RM (Risk Management) and ID.SC (Supply Chain Risk Management), and (4) Industry-specific frameworks for financial services (RBI, SEBI) and healthcare. We tailor the program to your regulatory environment.

Continuous monitoring capabilities include: (1) Security ratings and external threat intelligence for vendor vulnerabilities, (2) Periodic reassessments (quarterly for critical vendors, annually for high-tier), (3) Breach notification monitoring, (4) Contractual compliance tracking (SLAs, certifications), (5) Financial health monitoring for critical vendors, and (6) Automated alerts for changes in vendor risk posture. This enables proactive response before vendor issues escalate.

Key contractual safeguards include: (1) Data protection and confidentiality obligations, (2) Mandatory breach notification timelines, (3) Right-to-audit clause (on-site or remote), (4) Subcontractor management and approval requirements, (5) Data retention and secure disposal requirements, (6) Service level agreements with security metrics, (7) Liability and indemnification provisions, and (8) Termination assistance including data return/certification of deletion.

Ready to Build Your Third-Party Risk Management Program?

Transform vendor management from reactive compliance to strategic risk governance. Let's build a proportionate, lifecycle-based TPRM program that protects your organization and meets regulatory expectations.

Schedule a TPRM Consultation
Connect With Us

Start Your TPRM Journey

Ready to establish a structured, risk-based third-party risk management program? Our TPRM specialists are here to help you build lifecycle governance that protects your organization and satisfies regulatory obligations.

Hyderabad HQ (PAN India presence)
4th & 5th Floor, Techno Enclave, Beside Cloud9 Hospitals, Madhapur, Hitech City, Hyderabad – 500081
Contact@iglobuscc.com
+91 89785 55525

Request More Information