Third-party risk management (TPRM) is no longer just about compliance—it’s about protecting your organization’s efficiency, reputation, and bottom line. But how confident are you in your current TPRM strategy? According to Forrester’s Thought Leadership Report, organizations with mature TPRM programs achieve better outcomes, while less mature strategies leave businesses vulnerable to costly risks. In this article, read more about what makes an organization a TPRM leader and get the opportunity to assessment your own TPRM program with Forrester's online assessment.
Are you ready for the evolving risk landscape?
Forrester’s survey amongst 500 security and risk professionals reveals that 43% of risk leaders report a rise in risk levels over the past year and that the increased reliance on third parties is a major contributor to rising risk levels. However, at the same time, many organizations struggle with:
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Limited visibility into vendor risks
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Assessment backlogs that delay action
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Inefficient collaboration across teams
These challenges often lead to analysis paralysis, where risks pile up faster than they can be addressed causing inaction. As a result, Forrester found that companies with less mature TPRM programs often experience regulatory fines, operational inefficiencies, and even customer attrition.
The good news? Organizations that invest in risk rating platforms develop a well-rounded TPRM strategy and experience greater confidence, stronger vendor relationships, and improved security outcomes.
What Sets TPRM Leaders Apart?
Forrester’s report highlights a clear distinction between TPRM leaders and laggards. The search shows that leaders:
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Use risk rating platforms to prioritize threats and automate workflows.
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Take an “outside-in” perspective, integrating third-party risk into enterprise risk management.
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Foster cross-team collaboration by involving procurement, legal, and security in key decisions.
Most importantly, leaders connect their TPRM efforts to broader digital transformation initiatives, recognizing that strong third-party risk management supports innovation and growth.
Where Does Your Organization Stand?
The question is, how mature is your TPRM strategy? Do you have the tools, processes, and collaboration needed to stay ahead of risks—or are you struggling with inefficiencies and backlogs of risk assessments?
Don’t let third-party risk management become a weak link in your organization’s security strategy. Take Forrester’s TPRM assessment today to measure your program’s maturity and discover actionable recommendations for improvement.
Take your TPRM strategy to the next level today by assessing your TPRM program with Forrester's online assessment.
