Third-Party Risk Management is used to manage the relationships of all your suppliers. By centralizing your vendor network, you can start to build vendor risk management processes that are robust, repeatable, and flexible enough to grow with your business. ISO 27001 provides standards that ensure your data is protected when working with third parties. Third-Party Risk Management (TPRM) ISO 27001 is an Application in Risk Cloud that assesses these vendor security standards and risks.
TPRM ISO 27001 Application is structured on the ISO 27001 framework, a common information security standard used by organizations that are adopting an Information Security Management System (ISMS) to protect their data.
The Application is aligned to the ISO 27001 Annex A framework and is meant for quick setup and adherence to a subset of ISO 27001 standards. It is designed to establish trusting and confident relationships with your vendors by giving you a holistic view of your vendors’ risks through inherent risk ratings and assessment scorings.