Simplifying TPRM: Use Risk Intelligence Scoring to Cut Through Complexity

With inflation (still) on the rise, it’s more important than ever that companies know if their suppliers are at risk of going under. Firms need to know if their invoices are going to be paid, or if suppliers will continue to provide them with essential goods or services. Given the serious challenges posed by high levels of inflation, it’s little wonder that, according to KPMG, 85% of businesses now believe that Third-Party Risk Management (TPRM) is a strategic priority.

In this whitepaper, we discuss:

• Why traditional, manual risk assessments fall short in today’s data-rich environment.
• How NLP-based scoring improves TPRM workflows by automating risk detection and classification.
• Ways companies can customize risk labels to align with specific business concerns and ESG priorities.
• How data-driven scoring improves time management, resource allocation, and overall decision-making efficiency.