What is Third-Party Risk Management? | Definition from TechTarget

What is Third-Party Risk Management? | Definition from TechTarget

Third-party risk management (TPRM) is a comprehensive framework for identifying, assessing and mitigating risks associated with using external vendors, suppliers, partners and service providers. In today’s interconnected business environment, organizations increasingly rely on third parties, which can introduce financial, operational, regulatory, cybersecurity and reputational risks. TPRM is a specialized subset of broader risk management, which…

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What is Third-Party Risk Management? | Definition from TechTarget

What is Compliance Risk? | Definition from TechTarget

Compliance risk is an organization’s potential exposure to legal penalties, financial forfeiture and material loss, resulting from its failure to act in accordance with industry laws and regulations, internal policies or prescribed best practices. Compliance risk is also known as integrity risk. Organizations of all types and sizes are exposed to compliance risk, whether they…

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How Compliance Training Software Protects Your Business from Risk

How Compliance Training Software Protects Your Business from Risk

The modern business environment exposes organizations to a range of challenges that affect business operations, hence the need for robust regulations. Ignoring standards and guidelines can lead to costly fines, operational disruptions, and reputational damage. Last year, a US court asked a bank to pay USD$3 billion in fines—the biggest in history—for having weak monitoring…

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As the trade war escalates, Hence launches an AI ‘advisor’ to help companies manage risk | TechCrunch

As the trade war escalates, Hence launches an AI ‘advisor’ to help companies manage risk | TechCrunch

President Donald Trump’s tariffs have underscored the increasing geopolitical risk that almost all businesses now face. As the situation continues to shift with Trump’s unpredictable deal-making, it’s also becoming clear how challenging it is for companies, nonprofits, consultants, and lawyers to keep up with the rapid day-to-day changes. “We are drowning in trade updates every…

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