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FAQ Questions
Why is Third-Party Security Risk Management (TPSRM) important for my business?
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Over 60% of companies experienced a third-party data breach last year, a 49% increase from the year before. Your vendors, suppliers, and partners often process sensitive customer data or provide critical services, meaning their weaknesses become your risk. TPSaaS helps you identify, assess, and continuously monitor these risks so you can reduce exposure, stay compliant with regulations (e.g. DORA, GDPR, HIPAA), and protect your reputation.
How does TPSaaS differ from traditional vendor assessments or rating tools?
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Most organisations still rely on spreadsheets and one-off questionnaires, covering only about a third of their vendors. TPSaaS replaces this manual, fragmented approach with an end-to-end platform that:
• Automates onboarding, risk tiering, and due diligence.
• Provides continuous security monitoring and alerts.
• Maps risks directly to compliance frameworks (ISO 27001, SOC 2, DORA, etc.).
• Covers the full vendor lifecycle, from onboarding through to offboarding.
This reduces assessment time, eliminates blind spots, and ensures risks are not just tracked but actively remediated.
Who typically uses TPSaaS inside an organisation?
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Our solution is designed for Risk, Security, Compliance, IT, Incident, and Procurement teams. Each has different priorities – for example, security teams want to mitigate vendor cyber risks, procurement teams want faster onboarding, and compliance teams focus on audit-ready reporting. TPSaaS unifies these needs into one platform, ensuring collaboration and visibility across departments.
Is TPSaaS suitable for regulated industries like Finance and Healthcare?
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Yes. Regulated sectors face the strictest requirements for vendor oversight, and new frameworks such as DORA in the EU and the UK’s Critical Third Party regime will soon hold organisations accountable for the resilience of their suppliers. TPSaaS is built for this environment – offering secure AWS-hosted architecture, compliance-aligned workflows, and scalable monitoring that meets the needs of financial services, healthcare, fintech, and other highly regulated industries.
