Traditional third-party risk management (TPRM) practices may not keep pace as they often rely on manual, self-attested, and inconsistent methods. As vendor ecosystems expand and the frequency and cost of breaches rise, organizations need a new approach — one built on verified, standardized, and defensible assurance like that offered by HITRUST.
The modern enterprise depends on thousands of third parties for everything from IT infrastructure to cloud services and data processing. According to SecurityScorecard and Cyentia 2024, the average Global 2000 organization now manages over 8,000 vendors providing nearly 18,000 IT products and services, each representing a potential point of risk.
The impact is real.
These numbers reveal a growing truth: Cybersecurity risk associated with the supply chain has become material to an enterprise. Even a single weak link can expose the entire ecosystem to breach and disruption.
Legacy TPRM programs were designed for a simpler, slower world. Today, they rely on outdated processes that create friction, delay, and false confidence.
|
Old TPRM Approach |
Modern Reality |
Consequence |
|
Manual questionnaires and spreadsheets |
Thousands of vendors and complex data flows |
Slow, inconsistent reviews |
|
Self-attested vendor responses |
No independent verification |
False sense of security |
|
Disconnected frameworks and formats |
Diverse global standards |
Difficult to compare or trust results |
|
Human-intensive validation |
Limited budgets and staff |
Unsustainable at enterprise scale |
These inefficiencies leave teams overwhelmed and unable to keep pace with expanding vendor ecosystems. Instead of reducing risk, traditional TPRM often becomes an administrative burden that delays procurement and frustrates vendors.
For most enterprises, the TPRM process has turned into a roadblock. Assessments can take weeks or months, draining staff resources and stalling business. Vendors often repeatedly fill out lengthy questionnaires for every customer, creating frustration on both sides.
The result?
In short, traditional TPRM may create more noise than insight, leaving organizations vulnerable to the very risks they’re trying to mitigate.
Security-mature organizations are shifting from self-attested trust to validated assurance — a model that uses verified, standardized, and quality-controlled assessments to prove that vendor controls are effective.
Validated assurance eliminates redundancy, improves consistency, and provides defensible, audit-ready proof of compliance. Rather than taking vendors at their word, organizations gain confidence from independently verified results.
With validated assurance
It’s not just a better way to assess. It’s a smarter way to trust.
To understand how validated assurance transforms vendor oversight from a reactive burden into a scalable model of trust, download our latest white paper: Redefining Third-Party Risk Management with the HITRUST Validated Assurance.
Learn how HITRUST empowers organizations to address the challenge of vendor risk management and stay resilient against the growing wave of third-party breaches.