TruTek has designed and implemented third-party risk management (TPRM) programs for organizations across various industries for more than a decade. We specialize in identifying, assessing, and monitoring the various risks associated with third-party relationships, helping to ensure the confidentiality, integrity, and availability of your critical data assets.
Twenty percent of data breaches results from inadequate vetting of third parties. With growing reliance on external partners, the need for a robust program to address this risk becomes increasingly urgent.
Various third-party entities pose a direct threat to data security, with some of the most significant breaches linked to HVAC contractors, facilities maintenance providers, and payment systems vendors rather than traditional IT or financial services providers. TruTek assists clients in navigating this expanding frontier of data privacy and security by developing and implementing third-party risk management programs tailored to organizations of all sizes. Leveraging our extensive experience, we design programs that align with your business requirements and safeguard your assets.
Addressing third-party risk can be challenging to handle independently. Our approach is adaptable to your needs, streamlines assessments, and often utilizes existing software.
Initiating each third-party risk management assessment involves creating detailed profiles for each vendor, categorizing them by service, data type, and inherent risk rating.
We then craft a customized risk management framework based on your specific needs, administering assessments to vendors through questionnaires or on-site visits according to their inherent risk rating.
Following vendor assessments, we assign a final risk rating, establish and document risk management practices, and help set up continuous monitoring.
TruTek develops dashboards tailored to different stakeholders within your organization—executives, business owners, and team leaders—providing a transparent view of business risks.
We offer fair service options to assist you in managing, continuously improving, and executing your third-party risk management program. This includes conducting risk assessments with discounts on volume.
TruTek sets itself apart in managing cyber risk by offering a unique perspective.
Our team combines expertise in security, privacy, and legal matters, providing prompt and valuable guidance on evolving regulatory standards.
Our tailored framework establishes risk profiles for each third party, allowing for continuous monitoring and reporting through dashboards.
We provide in-depth and customized deliverables that reflect your specific needs and environment, avoiding generic templates.