Further with increased reliance on third parties in the modern supply chain a third-party risk management is crucial because it helps organizations identify, assess, and mitigate risks associated with external vendors, suppliers, and partners, protecting against potential disruptions, financial losses, reputational damage, and operational issues. By implementing a robust TPRM program from vanguardtec, organizations can protect their reputation, finances, and data from potential harm, including data breaches, supply chain disruptions, and cybersecurity threats. TPRM also helps ensure compliance with industry regulations and standards.To reduce the inexorable digital risks associated with vendor relationships, regulators globally are introducing new laws to make vendor risk management a regulatory requirement