Third Party Risk Management

Secure Your Partnerships. Mitigate Risks. Strengthen Compliance.

In an interconnected world, your organization’s security is only as strong as its weakest link—often third-party vendors. At AbizSoft, we specialize in comprehensive Third-Party Risk Management (TPRM) services, ensuring that your external partnerships enhance your business while meeting your security and compliance requirements.

Our Approach to Third-Party Risk Management

We deliver a structured and efficient framework to identify, assess, mitigate, and monitor third-party risks, ensuring alignment with industry best practices and standards such as ISO 27001, NIST 800-171, GDPR, and SOC2.

Key Features of Our Services

Third-Party Risk Assessment

Conduct thorough risk assessments for vendors, suppliers, and service providers.
Evaluate risks across multiple dimensions, including cybersecurity, data privacy, operational reliability, and compliance.

Due Diligence

Perform pre-contract due diligence to assess vendors’ security posture and compliance with regulatory standards.
Review certifications, policies, and practices such as ISO 27001, SOC2, or PCI DSS compliance.

Risk Categorization and Prioritization

Categorize vendors based on their access to critical systems, data, and business processes.
Prioritize risk management activities for high-risk vendors.

Vendor Onboarding and Offboarding Controls

Implement standardized procedures for onboarding and offboarding vendors to ensure secure integration and disengagement.
Validate that vendor access is limited and appropriately revoked when contracts end.

Contractual Risk Mitigation

Support the development of vendor contracts with clear security and compliance clauses.
Include Service Level Agreements (SLAs), breach notification requirements, and data handling protocols.

Continuous Monitoring and Reporting

Set up mechanisms for ongoing monitoring of vendor performance and adherence to security requirements.
Leverage tools like SecurityScorecard or BitSight for real-time insights into vendor risk.

Third-Party Risk Register Development

Maintain a centralized register documenting all third-party risks, mitigations, and monitoring activities.
Use dashboards and heatmaps to provide stakeholders with a clear risk overview.

Incident Response for Third-Party Breaches

Establish procedures to manage security incidents involving third-party vendors.
Ensure rapid communication, investigation, and resolution of breaches.

Training and Awareness

Educate your team on third-party risk management best practices and their role in maintaining vendor security.
Provide workshops and templates for effective vendor management.

Compliance Support

Align TPRM processes with regulatory frameworks such as GDPR, HIPAA, CCPA, and ISO 27001.
Prepare for audits with vendor risk documentation and evidence of due diligence.

Why Choose AbizSoft for TPRM?

Comprehensive Expertise

With extensive experience in risk management, we understand the nuances of vendor relationships and regulatory obligations.

Standards Alignment

Our approach ensures compliance with ISO 27001, NIST, SOC2, GDPR, and other leading frameworks.

Tailored Frameworks

We adapt our solutions to your organization’s industry, size, and risk tolerance for maximum relevance and impact.

Proactive Monitoring

We leverage cutting-edge tools to continuously monitor vendor risks, ensuring a secure ecosystem.

Strategic Insights

Our reports and dashboards provide actionable insights, empowering informed decision-making.

Secure Your Ecosystem, Ensure Compliance

At AbizSoft, we help organizations build secure, reliable, and compliant vendor ecosystems. From initial risk assessments to continuous monitoring, we ensure your third-party relationships enhance rather than jeopardize your business operations.

Let’s Build Secure Partnerships

Contact us today to discover how AbizSoft can help you manage third-party risks effectively and achieve compliance with confidence. Together, we’ll secure your business’s future.