TPRM Process — How Third Party Risk Management Works in Practice

Many organisations have a TPRM framework on paper — but no functioning TPRM process. The difference: a framework describes what should be done, a process defines how, by whom and when.

Step 1: Structure Risk Assessment

The TPRM process starts with a structured risk assessment of each supplier. Assessment dimensions: criticality (what impact does an outage or compromise have?), access (does the supplier have access to sensitive data or systems?), cyber posture (how well secured is the supplier?), compliance (does the supplier meet NIS2/DORA/ISO requirements?). 360TPRM delivers automated intelligence scores for the cyber posture assessment.

Not all suppliers equal

A critical IT service provider with system access requires intensive due diligence. An office supplies vendor only needs standard checks. 360TPRM differentiates automatically.

Step 2: Establish Monitoring Process

Continuous monitoring is the heart of the TPRM process. What to monitor: cyber security posture (CVEs, darknet leaks, attack surface), compliance status (certificates, regulatory changes), financial stability (insolvency risk for critical dependencies), contract status (termination periods, SLA compliance). 360TPRM fully automates the cyber intelligence dimension.

Step 3: Reporting and Escalation

A TPRM process without clear reporting remains ineffective. 360TPRM delivers: management dashboard with overview and risk trends, detailed supplier reporting with intelligence data, automatic alerts for critical events with defined escalation paths, regulatory reports for NIS2 and DORA evidence. Who gets informed when? This must be defined before the first incident.

Define escalation before the incident

'Who decides when a critical supplier has been compromised?' This question must be answered before it arises. 360TPRM ensures the escalation chain.

Step 4: Documentation and Audit Trail

NIS2 and DORA require traceable documentation of all TPRM activities. 360TPRM automatically documents: all assessments with timestamp, alert history and responses, supplier communications, decisions and approvals. The audit trail is exportable at any time — for internal audits and authority reviews.

FAQ

What is the difference between TPRM process and TPRM framework?+

The framework describes the structure (policies, categories, responsibilities). The process describes the operational implementation — who does what, when and how. Both are necessary, the framework alone is not enough.

How long does implementing a TPRM process take?+

With 360TPRM: 4–8 weeks for a functioning process. Critical suppliers can be assessed within the first week. Without tool support: 6–12 months.

What does DORA require for the TPRM process?+

DORA Art. 28–44 defines detailed requirements: register of all ICT third-party service providers, risk-based categorisation, written contracts with security requirements, continuous monitoring, exit strategies.

Who is responsible for the TPRM process?+

Typically: CISO or ISB for overall responsibility, procurement for supplier contracts, IT for technical assessments, compliance for regulatory requirements. 360TPRM connects all stakeholders in one platform.

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