By Edmond Jonathan Jeremiah
In April 2025, cybersecurity firm Fortinet issued urgent warnings: threat actors had maintained persistent, unauthorized access to FortiOS and FortiProxy devices by exploiting known vulnerabilities. Around the same time, a dark web advertisement emerged for a zero-day exploit targeting FortiGate firewalls—allegedly capable of executing remote code without authentication. According to ThreatMon, the exploit was promoted by a threat actor on a dark web forum, raising alarms across the security community.
These are not isolated IT concerns. They’re stark reminders of a broader reality: organizations are only as secure as their weakest third-party link.
What Is Third-Party Risk?
No business operates in isolation. Vendors, suppliers, contractors, and service providers are deeply embedded in today’s operational ecosystems. But every one of these relationships introduces risk.
Third-party risk refers to the potential harm your organization faces due to vulnerabilities, mismanagement, or non-compliance by external partners. If a cloud vendor mishandles sensitive data or a marketing agency suffers a breach, your business could face regulatory penalties, financial losses, or reputational damage—despite not being directly at fault.
Why TPRM Isn’t Optional Anymore
Imagine locking all the doors to your building, but leaving the back gate wide open. That’s what it’s like to invest in internal cybersecurity while neglecting third-party exposures.
Third-Party Risk Management (TPRM) is the discipline of identifying, assessing, monitoring, and mitigating risks introduced by your external partners. It’s not just a one-time vendor vetting process—it’s an ongoing strategy that keeps your organization secure as business relationships evolve.
From cloud service providers and software vendors to payroll processors and logistics firms, if they have access to your systems, data, or customers, they’re part of your extended risk surface.
Regulatory Pressure Is Mounting
Across the globe, regulatory bodies are mandating stronger oversight of third-party relationships. Some key examples include:
- SEBI compliance(India) requires periodic risk assessments of critical vendors.
- GDPR (Europe) mandates that data processors (your vendors) follow the same privacy rules as you do.
- ISO 27001:2022 places supplier controls at the core of its updated information security framework.
Failure to meet these standards can result in significant fines, operational disruption, and loss of public trust.
Why the Old Way No Longer Works
Traditional TPRM approaches—like one-time assessments during onboarding—can’t keep pace with today’s threat landscape. Cyberattacks evolve in real time, and organizations need continuous visibility into third-party risk.
Forward-looking businesses are now turning to AI-driven platforms that can:
- Continuously monitor vendors’ security posture
- Deliver real-time alerts when risks or vulnerabilities emerge
- Simulate breach scenarios to assess readiness
- Align with international standards like ISO 27001 and GDPR
This shift transforms TPRM from a reactive checklist into a proactive component of enterprise risk strategy.
Final Thoughts: TPRM Is a Business Imperative
Third-party risk isn’t just an IT issue or a procurement task—it’s a company-wide responsibility. A single weak link in your vendor network can bring operations to a halt, invite regulatory scrutiny, or damage customer trust.
Investing in a strong TPRM program is no longer a luxury—it’s a competitive necessity. By building a framework for third-party oversight, you’re not only protecting your organization—you’re building resilience and trust in a volatile digital world.
