What it means
TPRM covers supplier due diligence, contractual control, ongoing monitoring and exit. It matters because a dependency you do not operate can still stop you operating, and because regulators increasingly treat a supplier's failure as the buying organisation's failure.
The common state is a questionnaire process that produces files nobody reads and decisions nobody records — assurance as an activity rather than as an input to a decision.
Where MyRISK fits
What we do about it
Third-party risk is the most common subject in MyRISK's own pipeline. Consulting offers a scoped third-party risk assessment; where the need is to show that a specific supplier decision was reasonable and what conditions were attached, that is Trace.
Is this the thing you are actually trying to fix?
A definition rarely settles it. Tell us what happened — the request, the finding, the challenge or the incident — and we will say where to start, or that it isn't us.