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Third-Party Risk Management

Vendor Risk Assessment & TPRM Program

A right-sized third-party risk management program: vendor inventory and tiering, security questionnaires and evidence review, contract and DPA clause guidance, continuous monitoring cadence, and offboarding controls - aligned to ISO 27001, SOC 2 and DPDP/GDPR expectations.

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Third-party risk management (TPRM) is no longer optional—it's a compliance mandate under ISO 27001, SOC 2, GDPR and DPDP Act. Your vendors' security is your security. Praxis-Q builds risk-based TPRM programs that inventory vendors, assess criticality, review evidence (SOC 2 reports, ISO certificates, penetration tests), guide contract and DPA clauses, and embed continuous monitoring with secure offboarding. From India HQ with global delivery expertise, we deliver audit-ready vendor registers in 15-20 business days. Our tiered approach scales questionnaires to vendor risk—critical suppliers get deep assessments, low-risk vendors lightweight checks—ensuring proportionate effort without blind spots. We align your program to A.5.19-5.23 (ISO 27001), SOC 2 vendor criteria, GDPR processor obligations and DPDP data-processor rules. The result: a documented, defensible vendor lifecycle from onboarding through offboarding, ready for auditor scrutiny and board confidence.

At a Glance

AlignmentISO 27001 / SOC 2
CoverageFull vendor lifecycle
TieringRisk-based
OutputAudit-ready register
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TPRM

Third-Party Risk Management

Vendor Risk Assessment & TPRM Program

The Problem

Your security is now your vendors' security. One breached supplier with access to your data becomes your breach, your notification duty and your fine - and most companies can't even list their critical vendors.

What We Do

  • Inventory
  • Assess
  • Contract
  • Monitor
  • Offboard

What You Get

  • Complete vendor inventory and risk tiering
  • Questionnaires sized to vendor criticality
  • Evidence review: SOC 2 reports, ISO certs, pen tests
  • DPA and security-clause contract guidance
  • Meets ISO 27001 A.5.19-5.23 and SOC 2 vendor criteria
  • Supports DPDP and GDPR processor obligations
  • Continuous monitoring and re-assessment cadence
  • Secure offboarding and access revocation
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Why Third-Party Risk Management Matters

A single vendor breach can become your breach. When a supplier with access to your data is compromised, notification duties, fines and reputational damage fall on you. Yet most organizations lack a basic vendor inventory, let alone a risk-tiered assessment program. TPRM eliminates that blindness. ISO 27001:2022 controls A.5.19-5.23 explicitly require supplier management; SOC 2 auditors demand evidence of vendor vetting and monitoring. GDPR and DPDP impose processor-accountability rules. Regulatory frameworks globally now assume you've assessed and continuously monitored third-party access. A structured TPRM program is compliance infrastructure—it reduces breach likelihood, satisfies auditors and proves due diligence if an incident occurs.

Our TPRM Program Approach

Praxis-Q designs right-sized vendor risk programs: (1) Inventory & Tiering—build a complete register, classify vendors by data sensitivity and criticality; (2) Assess—deploy tiered questionnaires (deep for critical, lightweight for low-risk) and review independent evidence like SOC 2 Type II reports, ISO 27001 certificates and penetration-test summaries; (3) Contract—provide security-clause and DPA templates aligned to GDPR and DPDP; (4) Monitor—establish re-assessment cadence, breach-watch alerts and expiry tracking; (5) Offboard—enforce access revocation, data return/destruction and closure evidence. All deliverables are audit-ready, mapped to ISO 27001 and SOC 2 control frameworks, and delivered in 15-20 business days from India and global offices.

Evidence Review & Control Alignment

Not all vendor questionnaires are equal. Praxis-Q reviews hard evidence—SOC 2 Type II reports, ISO 27001 audit certificates, penetration-test results and security policies—rather than relying solely on self-reported answers. This reduces audit friction and strengthens your defense against compliance challenges. Our assessments are explicitly mapped to ISO 27001 A.5.19-5.23 (supplier relationship management), SOC 2 vendor criteria under the Trust Service Criteria, and GDPR Article 28 (processor obligations). DPDP Act compliance for data processors is embedded. Auditors see clear linkage between your vendor register, assessment evidence and control environment. This alignment shortens audit cycles and demonstrates governance maturity.

Continuous Monitoring & Offboarding

TPRM is not a one-time exercise. Praxis-Q embeds continuous monitoring: annual or risk-based re-assessment, breach-watch alerts for your vendor ecosystem, contract-expiry tracking and renewal triggers. When a vendor relationship ends, our offboarding controls ensure access revocation, data return or secure destruction, and closure evidence retention. This ongoing cadence satisfies auditor expectations for dynamic risk management and reduces likelihood of a dormant vendor becoming a forgotten attack surface. The entire lifecycle—from onboarding questionnaire to offboarding checklist—is documented and ready for regulatory inspection.

Fast-Track Delivery & Global Reach

Praxis-Q's 15-20 business day fast-track USP means your TPRM program is operationalized quickly—critical for organizations nearing audit windows or facing vendor-audit scrutiny. Our India HQ and global delivery footprint enable cost-effective assessment at scale while maintaining local regulatory knowledge (DPDP for India, GDPR for EU, local rules for APAC and Americas). Whether you manage 50 vendors or 500, our tiered approach and template-driven workflows compress timelines without sacrificing quality. You receive a fully documented, risk-ranked vendor register, assessment summaries, contract templates and a monitoring roadmap—all audit-ready.

Related Services

ISO 27001 requirementsSOC 2 vendor criteriaGDPR and DPDP processor obligationspenetration-testing evidencevirtual CISO continuous monitoring

Frequently Asked Questions

Is TPRM required for ISO 27001 or SOC 2?
Yes. ISO 27001:2022 controls A.5.19-5.23 cover supplier relationships, and SOC 2 requires vendor management under the common criteria. Auditors ask for the register, assessments and contracts.
How many vendors can you assess?
The program is tiered: critical vendors get deep assessments, low-risk vendors get lightweight checks, so the effort scales with your actual risk rather than vendor count.
Is third-party risk management required for ISO 27001 and SOC 2 compliance?
Yes, absolutely. ISO 27001:2022 controls A.5.19-5.23 explicitly cover supplier relationship management and information security requirements for suppliers. SOC 2 auditors assess vendor management under the Trust Service Criteria. GDPR Article 28 requires processor accountability; DPDP Act mandates data-processor compliance. Auditors ask for your vendor inventory, risk assessments, evidence review, contracts and monitoring cadence. Without a documented TPRM program, you will receive audit findings.
How do you handle vendor risk tiering and questionnaire scaling?
Praxis-Q classifies vendors into tiers (critical, important, low-risk) based on data access, system dependency and business impact. Critical vendors receive deep security questionnaires (50+ questions), evidence requests and possible on-site or virtual audits. Important vendors get medium-depth questionnaires; low-risk vendors lightweight self-assessment. This risk-proportionate approach ensures your effort and cost align with actual exposure, rather than treating all vendors equally. It also satisfies auditor expectations for 'right-sized' controls.
What evidence do you review for vendor assessments?
Praxis-Q reviews SOC 2 Type II audit reports, ISO 27001 certificates, penetration-test summaries, security policies, business continuity plans and data-protection certifications. We don't rely solely on vendor self-reported answers; we validate against independent, audited evidence. This reduces your audit risk and strengthens your due-diligence posture. For vendors without third-party audits, we conduct tiered assessments and document risk acceptance or remediation plans.
How does TPRM support GDPR and DPDP compliance?
GDPR Article 28 requires processors to implement appropriate technical and organizational measures; DPDP Section 4(12) imposes similar obligations. Praxis-Q ensures your vendor assessments and contracts address data-protection obligations: DPA clauses, sub-processor controls, data-breach notification timelines and data-subject rights. Your vendor register and assessment evidence demonstrate compliance with processor-accountability rules, reducing regulatory and breach-notification risk.
What does the offboarding process include?
Our offboarding checklist ensures: access revocation across all systems, data return or secure destruction with evidence, contract closure, NDA and confidentiality obligations reminder, and final security certification. Offboarding is often overlooked, creating residual access risks. Praxis-Q enforces disciplined closure, preventing dormant vendor accounts from becoming attack vectors. Documentation is retained for audit trail and regulatory inspection.
How long does a TPRM program implementation take?
Praxis-Q delivers in 15-20 business days (fast-track USP). This covers vendor inventory, risk tiering, tiered questionnaires, evidence review, contract-clause guidance, and a monitoring roadmap. Timelines depend on vendor count and evidence availability, but our template-driven workflow and India HQ + global delivery enable rapid deployment. You receive an audit-ready vendor register and governance roadmap—immediately operational.

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