KPMG discusses third-party risk management (TPRM) governance as essential for navigating challenges like geopolitical tensions, cyber threats, and regulatory pressures. Effective TPRM evolves from mere compliance into a strategic tool for resilience and business value. Companies struggle with outdated structures and fragmented approaches, necessitating clear governance to define roles, responsibilities, and risk categories. Successful TPRM requires centralized oversight for transparency, with roles well-defined to ensure consistent risk management. Future insights will address technological advancements in TPRM.
