Third-Party Risk Management Services
      Back to home
      1. UpGuard Knowledge Base
      2. UpGuard Vendor Risk
      3. Third-Party Risk Management Services

      What is a Managed Vendor?

      UpGuard’s Managed Vendor Assessments allow you to delegate the task of assessing third-party vendors to our team of security experts

      Written by Abi Tyas Tunggal

      Managed Vendors lets you request one of UpGuard's third-party risk management services (TPRMS). TPRMS has three tiers:

      1. Evidence chasing: Our analysts will work with the vendor to complete a security questionnaire, assess any additional evidence, and validate the vendor's responses.

      2. Risk assessment: Our analysts create a tailored risk assessment based on automated scanning results, as well as evidence gathered in the prior tier.

      3. Risk remediation: Our analysts use the results of the risk assessment to create a remediation plan based on your input and work with the vendor to get risks remediated.

      These services are designed to help you scale up your third-party risk management program without having to hire additional staff. Whether you're a small business with a few vendors or a large multinational with thousands of vendors, we can help.

      For small businesses that may not have in-house third-party risk experts, our analyst team can be engaged for expert assessment of critical suppliers. For large companies, UpGuard’s analyst team provides an elastic pool of experts who can help process large numbers of vendors so that you can focus on larger business processes.

      If you are interested please contact us so we can learn about your needs, help you understand how pricing works, and get you set up.

      Once you’re set-up, you’ll be able to request a managed service from Managed Vendors, monitor the progress of your requests, and review complete requests from within the UpGuard platform. Here’s how the process works:

      • Step 1: Request a managed service

      • Step 2: After requesting a service, an UpGuard analyst will be assigned to work with you. They'll determine what services the vendor provides your organization, ask about previous interactions with the vendor, and determine the type of assessment that will be appropriate for them.

      • Step 3: Analysts perform the service level you have requested.

       

      See also: