This data makes it clear that vendor risk doesn’t end at onboarding and reinforces the need for continuous oversight through a strong third-party risk management (TPRM) program. While often used interchangeably, vendor risk management (VRM) focuses specifically on a subset of third-party risks. Without a defined process, risk management efforts are likely to be misaligned until something goes wrong.”So, what does it look like when a company is properly managing third-party risk? Vanta“I believe we have only scratched the surface of how vendor risk management will evolve with the use of AI,” says Rowse. These often stem from the sheer volume and complexity of third-party relationships, coupled with evolving technological and regulatory landscapes.