Top 7 Third-Party Risk Management (TPRM) Software

Third-party relationships now stretch across procurement, IT, legal, and operations. Each supplier introduces information, operational, and compliance risks that accumulate fast without a single view of exposure. Manual spreadsheets are slow, opaque, and prone to gaps. A modern TPRM platform reduces that friction with shared data, consistent scoring, and automated follow-ups across the full supplier lifecycle.

The right tool should help you maintain a live register of vendors, store third-party risk assessments, standardise due diligence, and trigger remediation when risk rises. It should also integrate with core systems so data does not sit in silos, and provide clear reporting for boards, auditors, and regulators.

What Is Third-Party Risk Management (TPRM) Software?

TPRM software helps you identify, assess, monitor, and remediate risks arising from suppliers and other external parties. It supports the full lifecycle: onboarding and due diligence, contract and control assessments, continuous monitoring, incident handling, and offboarding. Good platforms centralise vendor data, standardise questionnaires and evidence collection, assign owners and timelines, and produce audit-ready records. They also connect to security ratings, threat feeds, and regulatory libraries to keep risk views current and actionable.

Key Features of TPRM Software You Should Look For

Before shortlisting, align features to your vendor landscape, regulatory drivers, and internal workflows. Prioritise capabilities that automate busywork and give a reliable picture of exposure.

Centralised Third-Party Inventory

A single, searchable register linking entities, services, data types, contracts, and criticality, so you can see dependencies and focus assessments where they matter.

Onboarding & Due Diligence Workflows

Configurable workflows to collect questionnaires, documents, and control evidence, with routing by risk tier, service type, or data sensitivity.

Risk Scoring & Tiering

Consistent scoring models that translate responses into inherent and residual risk, drive tiering, and trigger proportionate oversight.

Questionnaire Automation & Evidence Management

Reusable question libraries mapped to frameworks, response pre-fill, evidence versioning, and expiry reminders to keep files current.

Continuous Monitoring

Feeds from security ratings, breach alerts, financial health, and sanctions lists to detect changes between assessment cycles.

Fourth-Party & Concentration Visibility

Link third parties to their upstream providers, highlight single points of failure, and quantify concentration risk across regions or services.

Remediation & Exception Handling

Tasking, owners, and due dates for findings; exception workflows with expiry and compensating controls to keep risks tracked.

Reporting & Board-Ready Dashboards

Live KRIs, heatmaps, and audit trails to inform leadership, satisfy regulators, and support renewals or exit plans.

Integrations & Data Exchange

Connectors for procurement, contract management, ITSM, SIEM, and IAM to reduce duplicate data and keep context complete.

7 Best Third-Party Risk Management (TPRM) Software

1. Continuity2

Continuity2 delivers an industry-leading approach that unifies vendor risk management with business continuity and operational resilience. You get a live supplier register linked to BIAs, impact tolerances, and playbooks, so vendor decisions reflect service criticality, not just control checkboxes. Workflows standardise due diligence, map obligations to frameworks, and route remediation to owners with clear deadlines. Continuous monitoring, robust analytics, and board-ready reports give leaders an accurate view of exposure across services and geographies.

Key Features:

• Resilience-Linked TPRM: Tie vendor risk to critical services, BIAs, and recovery plans for decisions grounded in real impact.
• Configurable Assessments: Libraries mapped to standards, automation for renewals, and evidence lifecycle control.
• Actionable Dashboards: Heatmaps, KRIs, and audit trails that inform investment, exit, or contingency planning.

Best for: Organisations that want TPRM tightly connected to continuity and operational resilience.

2. OneTrust

OneTrust offers broad GRC coverage with a strong TPRM module. It centralises vendors, automates due diligence with reusable questionnaires, and connects to privacy and compliance libraries. Security ratings and issue workflows help teams close findings and track exceptions over time. Dashboards provide a clear view of trends, outstanding actions, and renewal cycles.

Key Features:

• Questionnaire Automation: Libraries and routing by risk tier to reduce assessment fatigue.
• Connected Registers: Link third parties to processing activities and obligations.
• Issue Management: Findings, owners, and SLAs to drive closure.

Best for: Enterprises seeking broad GRC alignment with privacy and TPRM in one stack.

3. MetricStream

MetricStream’s TPRM module sits within its integrated risk platform. It supports onboarding, assessments, control testing, and continuous monitoring, with strong reporting and workflow controls. Its modelling helps teams compare inherent versus residual risk and track remediation to completion.

Key Features:

• End-to-End Lifecycle: From intake through offboarding with audit-ready records.
• Risk Models: Tiering, scoring, and mapping to frameworks for consistent decisions.
• Performance Dashboards: KPIs and KRIs for leadership reporting.

Best for: Regulated organisations standardising on an integrated risk suite.

4. LogicGate

LogicGate provides flexible, no-code workflows that adapt to unique vendor processes. Teams can design intake forms, automate approvals, and build targeted assessments by service or data category. Integrations help pull context from upstream systems, while reports summarise findings for stakeholders.

Key Features:

• No-Code Builder: Rapidly tailor vendor workflows without heavy development.
• Reusable Libraries: Question sets mapped to common standards.
• Tasking & SLAs: Clear ownership, due dates, and escalations.

Best for: Teams needing fast, configurable workflows across procurement and security.

5. ProcessUnity

ProcessUnity focuses on scalable TPRM operations with strong questionnaire management and evidence tracking. It supports intake, risk tiering, and control assessments, with continuous monitoring signals to highlight changes between cycles. Dashboards surface overdue actions and top risks by category.

Key Features:

• Assessment Operations: Bulk campaigns, pre-fill, and response tracking at scale.
• Risk Tiering: Route depth of review by impact and data sensitivity.
• Change Alerts: External signals to prompt interim checks.

Best for: Programmes running large assessment volumes across many suppliers.

6. UpGuard

UpGuard combines TPRM workflows with external attack-surface insights. Security ratings, breach tracking, and domain-level checks inform risk scores, while questionnaires and remediation tasks close the loop with vendors. Reports help security and procurement align on priority actions. Key

Key Features:

• External Ratings: Continuous security posture checks on suppliers.
• Targeted Questionnaires: Focus reviews using objective signals.
• Remediation Tracking: Assign fixes and verify completion.

Best for: Security-led teams seeking strong external posture data with TPRM.

7. Fusion Platform

Fusion brings TPRM together with continuity and incident response. You can map suppliers to critical processes, test playbooks, and track issues to resolution. Its dashboards highlight dependencies and single points of failure across services and locations.

Key Features:

• Service Mapping: Link vendors to processes, SLAs, and RTO/RPOs.
• Issue & Incident Handling: Route vendor-related incidents to owners with clear steps.
• Dependency Insights: Visualise concentration risk by region or function.

Best for: Organisations aligning TPRM with continuity and response planning.

Benefits of TPRM Software

Third-party risk management software gives organisations the clarity, consistency, and control needed to manage vendors effectively, reduce exposure, and strengthen overall operational resilience.

Risk Visibility Across the Supply Base

TPRM software consolidates vendor data, contracts, and control evidence into one view. You see which services rely on which suppliers, what data they process, and how they scored in recent assessments. That visibility reduces blind spots, supports proportionate tiering, and prevents duplicated requests. It also helps leadership understand where concentration risk sits, so they can decide on diversification, additional controls, or exit.

Faster Onboarding with Consistent Due Diligence

Standard workflows and reusable questionnaires remove email ping-pong and version confusion. Procurement, security, and legal work from the same record, with clear owners and SLAs. Pre-filled answers and evidence reuse speed renewals without lowering standards. The result is shorter cycle times, better supplier experience, and a cleaner audit trail when you revisit decisions.

Continuous Assurance Between Assessment Cycles

Static, annual reviews miss change. Continuous monitoring brings in breach notices, posture scores, and sanctions updates to flag shifts in risk. Alerts drive interim checks or targeted questionnaires, so oversight matches reality. Teams spend less time chasing every vendor, and more time on the small set where risk has actually moved.

Audit-Ready Reporting for Stakeholders

Live dashboards, KRIs, and complete histories make board packs and regulatory responses straightforward. You can evidence how you assessed risk, the exceptions granted, and the compensating controls in place. That reduces preparation time for audits, supports renewals, and helps demonstrate accountable oversight to customers and partners.

Stronger Operational Resilience

Linking suppliers to critical services highlights single points of failure and informs contingency plans. Playbooks, impact tolerances, and recovery objectives become practical when tied to real vendor data. When an incident hits a third party, you have routes for communications, workarounds, and recovery, reducing downtime and secondary impacts.

Putting TPRM to Work for Risk, Procurement, and Security Leaders

TPRM is a team sport. Risk sets standards and scoring, procurement drives intake and commercial terms, and security validates controls and remediation. Choose a platform that supports that collaboration without adding complexity. If you want TPRM connected to service criticality, recovery planning, and real-time response, Continuity2 can help you achieve it through a single, integrated resilience platform.

Book a Demo with Continuity2 to see how our software strengthens vendor oversight, automates due diligence, and builds operational resilience across your supply chain.