The acceleration of cloud adoption has brought immense benefits, but it has also expanded the complexity of managing vendor risk. How can organizations move beyond traditional, static assessments to a more dynamic and proactive approach? This critical question was the focus of a recent IT GRC Forum panel discussion, “Managing Vendor Risks in the Cloud: Insights for Internal Oversight,” held on June 4th, 2025.
The session featured a panel of subject matter experts, including LogicGate’s own Meghan Maneval (Sr. Director of Product Marketing), Colin Whittaker (Informed Risk Decisions), Paul Valente (VISO TRUST), Paul McKay (Forrester), and Adam Bixler (Security Scorecard). They explored practical strategies and shared exclusive research to help organizations strengthen their oversight of vendor relationships in the cloud.
A central theme of the discussion was the necessity of a mindset shift. As Maneval emphasized, “Improving TPRM begins with evolving your perception of risk and trust. This mindset underpins a continuous and dynamic process, integrating risk management into every stage of the vendor lifecycle and leveraging data for proactive decision-making.”
This sentiment was echoed throughout the panel, highlighting that true process improvement isn’t just about adopting new tools, but about fundamentally changing how we approach risk and trust in our interconnected digital world.
Key Takeaways to Transform Your TPRM Strategy
The panel delved into several actionable takeaways for maturing your Third-Party Risk Management (TPRM) program, including:
- Context is King: One-size-fits-all assessments are no longer effective. The relationship and context of each vendor engagement should drive the depth and nature of your due diligence. Focus on understanding the specific risks associated with each unique vendor relationship.
- Data is for Action, Not Just Collection: In today’s data-rich environment, the challenge isn’t merely gathering information, but transforming that data into actionable intelligence. The goal is proactive mitigation and genuine process improvement, moving from simply observing to identifying and acting on risks.
- Beyond the “Trust Center” Mentality: While vendor-provided security documentation like SOC 2 reports or ISO certifications on Trust Centers is a starting point, they shouldn’t be the end of your inquiry. Panelists caution against taking such attestations purely on trust without further validation.
- Embrace Continuous, Adaptive Monitoring: The future of TPRM lies in moving away from static, point-in-time assessments. Organizations need to adopt a continuous and adaptive approach to vendor risk, integrating ongoing monitoring to identify emerging threats and changes in vendor posture. This involves understanding both external vulnerabilities and the internal controls you have over vendor systems.
- Strategic Use of AI and Automation: AI and automation are set to reshape TPRM processes. These technologies can help filter out the noise by identifying patterns and flagging anomalies, allowing human experts to focus on critical decision-making. However, it’s crucial to implement these tools thoughtfully to avoid introducing new risks. Effective AI governance in TPRM means focusing on the data AI uses and mapping evidence back to controls, especially when assessing vendors’ use of AI.
- Don’t Forget Offboarding: A comprehensive TPRM lifecycle includes robust vendor offboarding processes to ensure data is managed securely and access is revoked appropriately once a relationship ends.
- Prepare to Scale: As AI accelerates software development, vendors will ship faster and integrate more, potentially leading to more breaking changes. Your TPRM workflows need to be agile and prepared to scale more rapidly than you might think.
The Path to a Future-Proof TPRM Program
The insights shared by the panel converge on a clear message: maturing your TPRM program requires a strategic commitment to continuous improvement, a data-driven culture, and the intelligent adoption of technology. It’s about building a program that is not only compliant but also resilient, adaptive, and aligned with your overall business objectives.
Missed the Discussion? Watch the Full Recording!
These takeaways offer just a glimpse into the rich discussion. To get the full insights, practical guidance, and expert perspectives on managing vendor risks in the cloud, we invite you to watch the complete recording of the IT GRC Forum panel.
By embracing these strategies, you can transform your TPRM program from a reactive, compliance-driven exercise into a proactive, value-adding function that strengthens your organization’s security and resilience in the cloud. To see how Risk Cloud can help you make this shift, request a demo today!
