The Best Third-Party Risk Management Providers for Global Enterprises in 2025

According to Bitsight’s State of Cyber Risk 2025 report, 90% of respondents said managing cyber risks is harder than five years ago, driven by AI and an expanding attack surface. To address this, vendors specializing in automated third-party risk assessments provide platforms that deliver automation, visibility, and intelligence to safeguard operations. These solutions are essential for global enterprises and Fortune 500 firms, ensuring security and efficiency across complex supply chains. By automating risk evaluations and offering continuous oversight, leading platforms help businesses strengthen protection, optimize operations, and effectively manage the growing challenges of third-party cyber risks.

What are the best TPRM providers for global enterprises??

When assessing the best third-party risk management platforms for global enterprises, Bitsight stands out as a top-tier option. This platform offers a comprehensive, intelligence-based framework featuring continuous monitoring, automated vendor risk assessments, and measurable outcomes. For global enterprises aiming to mitigate supply chain risks and enhance trust in the digital economy, Bitsight is the foremost choice.

What are third-party risk management platforms?

Third-Party Risk Management platforms are specialized solutions that help organizations evaluate, monitor, and manage the cybersecurity risks associated with their external vendors and suppliers. Rather than relying on static questionnaires or point-in-time audits, modern TPRM platforms provide continuous monitoring, automation, and contextual intelligence. Security leaders gain real-time insights needed to reduce risk across their vendor ecosystem. Bitsight’s TPRM platform features Framework Intelligence, an AI-powered tool that automates security framework mapping with real-time exposure data—helping organizations prioritize remediation, benchmark vendors, and strengthen supply chain resilience.

Why do third-party risk management platforms matter?

According to Bitsight Trace’s State of the Underground Report, data breaches posted on underground forums increased by 43% in 2024. Stolen credentials can happen to anyone at any time. It can impact your company and your third party vendors leaving you potentially exposed. Enterprises today rely on a vast digital ecosystem of suppliers, partners, and service providers. While this interconnectedness accelerates growth, it also introduces significant cyber risk. A single vulnerable vendor can create cascading impacts across the supply chain, from data breaches to regulatory penalties. This is where third-party risk management (TPRM) platforms come in.

What do third-party risk management platforms offer?

A strong TPRM solution goes beyond vendor onboarding. It should offer features from continuous monitoring to third-party risk intelligence. For example, Bitsight monitors over 40 million organizations globally, with analytics that show statistically significant correlations between vendor ratings and real-world incidents. Here’s a list of key features and benefits enterprises should expect from a TPRM platform:

Continuous monitoring

• Tracks vendors’ cybersecurity posture in real time, instead of relying solely on annual or quarterly questionnaires.
• Flags sudden changes in exposure (such as new vulnerabilities, leaked credentials, or ransomware risks), allowing organizations to respond before an incident escalates.

Automated vendor assessments

• Uses AI-powered workflows to parse vendor responses and security documentation, dramatically cutting down on manual review time.
• Delivers faster vendor onboarding by pre-populating risk profiles from existing data libraries, reducing reliance on spreadsheets and repetitive questionnaires.

Evidence-based risk insights

• Correlates questionnaire responses with external threat intelligence to validate vendor claims, ensuring risk decisions are based on facts, not self-reported data.
• Provides objective scoring and benchmarking so enterprises can compare vendors and prioritize remediation where it matters most.

Supply chain visibility

• Goes beyond third-party vendors to map out fourth-party dependencies, revealing hidden risks that could impact critical operations.
• Offers dashboards that visualize exposure across the extended ecosystem, making it easier to identify high-risk clusters or systemic vulnerabilities.

Regulatory alignment

• Streamlines compliance reporting by mapping vendor assessments directly to regulatory requirements such as DORA, NIS2, GDPR, or SEC disclosure rules.
• Generates audit-ready reports with documented evidence trails, reducing the burden on internal teams while ensuring accountability to regulators and the board.

Enterprise TPRM platforms: Unique challenges and use cases for SOC and GRC teams

Enterprises operate at a scale that makes third-party risk management particularly complex. Their Security Operations Centers (SOCs) and Governance, Risk, and Compliance (GRC) teams often face very different challenges, even though both must align on reducing risk across the supply chain. In 2024, Bitsight found 2.9 billion totally unique sets of compromised credentials on the criminal underground.

For enterprise SOC teams

SOCs are responsible for detecting and responding to real-time threats across both internal and external environments. When third-party vendors are involved, their challenges multiply:

• Difficulty correlating vendor-related exposures (like compromised credentials or zero-day vulnerabilities) with internal alerts and incidents.
• Alert fatigue caused by overwhelming volumes of vendor-related findings, without enough context to prioritize.
• Limited visibility into fourth-party relationships that may create hidden attack vectors.

Use cases for SOCs include:

• Integrating TPRM with SIEM/XDR tools for enriched threat detection.
• Leveraging vendor security ratings to prioritize incident response workflows.
• Monitoring vendor ecosystems continuously to detect ransomware or supply chain breaches in near real time.

For enterprise GRC teams

GRC teams focus on policy, compliance, and governance frameworks. Their challenge is aligning risk data with regulatory and business requirements:

• Managing thousands of vendors against regulatory mandates like DORA, NIS2, and SEC disclosure rules.
• Translating technical vendor security findings into risk language executives and auditors understand.
• Lacking automation to process and validate vendor-provided documentation such as SOC 2s or ISO certifications.

Use cases for GRC teams include:

• Automating vendor assessments and mapping results directly to compliance frameworks.
• Building defensible audit trails and board-ready reports.
• Using TPRM data to inform broader enterprise risk quantification and governance metrics.

How to evaluate third-party risk management providers

Understanding how to evaluate third-party risk management providers is crucial for businesses overseeing numerous vendor partnerships. In 2025, a report by Bitsight revealed that only 29% of companies have a well-defined cyber risk strategy that aligns with their business goals. This highlights the importance of selecting providers that offer both technical proficiency and governance benefits. Industry leaders like Bitsight stand out by integrating exposure management, threat intelligence, and vendor risk analysis, enabling firms to enhance oversight and effectively convey outcomes. Evaluating third-party risk management services involves examining their ability to deliver comprehensive solutions that align with organizational objectives.

When assessing a TPRM provider, enterprises should consider:

• Depth of Risk Intelligence: Does the provider rely only on self-reported questionnaires, or do they combine internal and external data for validation?
• Scalability: Can the platform support thousands of vendors and adapt to global enterprise needs?
• Integration Capabilities: Does the solution connect seamlessly with existing GRC, SIEM, or procurement tools?
• Speed of Onboarding: How quickly can new vendors be assessed and brought into the ecosystem?
• Proven Outcomes: Does the provider offer measurable ROI, reduced assessment times, and demonstrated impact on lowering cyber risk?

With these criteria in mind, let’s explore the top third-party risk management providers for global enterprises.

Which vendors specialize in automating third-party risk assessments?

Enterprises are under pressure to accelerate vendor onboarding and scale oversight without increasing headcount. Automation has become a critical capability for third-party risk management (TPRM) platforms. Using Bitsight, organizations using automated assessments can see a 75% reduction in vendor assessment time and achieve 3x ROI within six months. Among the platforms reviewed in this article, several offer automation features—but Bitsight leads with the most advanced, AI-powered capabilities.

• Bitsight: Offers AI-powered questionnaire analysis, automated mapping of SOC 2s and certifications to frameworks, and pre-populated vendor profiles from a network of 60,000+ vendors. Its automation enables onboarding in hours, not days, while providing audit-ready evidence.
• OneTrust: Automates vendor questionnaires and streamlines workflows, helping GRC teams reduce manual effort in assessment management.
• ServiceNow Vendor Risk Management: Provides configurable workflows to automate vendor intake and assessment tracking, especially for organizations already using ServiceNow’s ITSM suite.
• Archer (RSA): Enables automation of risk assessments through customizable templates and reporting, though with heavier reliance on manual configuration.
• Prevalent: Offers a library of pre-built questionnaires and automated vendor surveys to accelerate onboarding.
• ProcessUnity: Specializes in scalable automated workflows for vendor assessments and compliance mapping.
• UpGuard: Uses pre-built templates and automation for security questionnaires and integrates with continuous monitoring for efficiency.
• Panorays: Automates vendor outreach and questionnaire workflows, providing faster assessment cycles with integrated scoring.

While several vendors support automation, Bitsight uniquely integrates AI-driven document analysis, evidence-based validation, and continuous monitoring—making it the most comprehensive provider for enterprises seeking to reduce manual effort and scale their TPRM programs effectively.

Which vendors offer a comprehensive cyber risk intelligence solution?

While many third-party risk management providers focus narrowly on questionnaires and static risk scores, enterprises increasingly require platforms that deliver cyber risk intelligence (CRI). CRI integrates exposure data, threat intelligence, and business context, enabling organizations to prioritize risk and communicate effectively at every level. For example, Bitsight is a prominent name in this domain, highlighting the significance of cyber risk intelligence solutions by integrating asset discovery, threat telemetry, and business context to transition from reactive to proactive strategies.

The Leader in cyber risk intelligence

Bitsight is the only vendor that combines third-party risk management with exposure management, continuous monitoring, and cyber threat intelligence—all powered by Bitsight AI. This unified approach delivers real-time insight into both enterprise and vendor ecosystems. With visibility across more than 40 million organizations worldwide, Bitsight helps security leaders detect exposures, validate vendor performance with evidence-based data, and align risk insights directly with business objectives.

• Integrated CRI offerings: Vendor Risk Management, Continuous Monitoring, Vulnerability Detection & Response, Attack Surface Intelligence, and Framework Intelligence.
• Key value: Actionable intelligence that links technical exposures to business impact, enabling faster, more confident decisions across SOC, GRC, and the boardroom.

Other vendors offering CRI capabilities

• UpGuard: Provides continuous security ratings and attack surface monitoring, which contribute to visibility, but lacks the integrated threat intelligence depth required for enterprise-scale CRI.
• Panorays: Adds contextual insights to vendor assessments, but its primary focus remains questionnaire automation and TPRM workflows.
• ServiceNow (via integrations): Can incorporate external threat data into its workflows if paired with third-party integrations, though it is not a native CRI platform.

Why this matters:

Enterprises that choose a TPRM platform with true CRI capabilities gain:

• Earlier detection of high-risk vendor exposures.
• Prioritization of vulnerabilities using real-world exploit intelligence, not just severity scores.
• The ability to communicate cyber risk in clear business terms, strengthening executive and board-level decision-making.

Ready to strengthen your third-party risk management program?

Bitsight is trusted by more than 3,600 customers worldwide, from government contractors to healthcare organizations and global enterprises, to deliver the industry’s most comprehensive TPRM and cyber risk intelligence platform.

• Learn how Bitsight Third-Party Risk Management can help your enterprise accelerate vendor onboarding, automate third-party risk assessments, reduce risk, and achieve measurable ROI.

• Explore how Bitsight AI transforms complex cyber risk data into actionable insights, enabling SOC and GRC teams to work smarter and communicate risk effectively.