Third-Party Risk Management

Procurement and TPRM should be integrated across the life cycle to enhance your visibility, efficiency, risk management and cost management. The four sections of the TPRM life cycle each have an important part to play in helping you determine the right partners to drive your business growth and customer success. Protiviti offers an integrated one-stop solution for financial, information technology, compliance and operational due diligence. Transactions that have been through a comprehensive due diligence process are the most successful, and you are able to realis their expected value.

• Planning: Successful TPRM starts with strong linkages to business strategies and the value creation process.
• Due Diligence & Third-Party Selection: Risk Assessment, Due Diligence & Third-Party Selection should be coordinated, risk focused and intended to drive business value decisioning.
• Contract Management: Contract Management should be informed from the results of due diligence and end in contracts that align to business needs and provide appropriate risk mitigation requirements.
• Monitoring and Management: Strong contracts drive accountability for oversight activities which helps establish expectations for all parties on what will be required to have a successful relationship.