Supplier qualification and risk management: Is your business ready for the new regulatory challenges?

What is TPRM and why does it matter?

TPRM, or Third Party Risk Management, is a strategic approach to identifying, assessing, and mitigating risks posed by external vendors and partners. It’s a well-established practice that helps ensure business continuity, regulatory compliance, and brand reputation protection.

Modern TPRM solutions follow a structured process that includes:

• Categorizing suppliers based on criticality and risk
• Using standardized questionnaires to collect data
• Applying configurable methodologies to evaluate risk

Recent trends² highlight the need for flexible and scalable TPRM tools that can adapt to evolving regulations and address emerging risks—especially in areas like ESG (Environmental, Social, and Governance) and cybersecurity.

The new rules: More than compliance—it’s about business protection

The Digital Operational Resilience Act (DORA) and the NIS2 Directive require companies—especially those in highly regulated sectors like finance—to qualify and monitor suppliers (and their subcontractors) up to the fifth tier. But this isn’t just about ticking compliance boxes. It’s a chance to strengthen operational resilience and reduce growing cyber threats.

What does this mean for your business?

1. Adapting to complexity: It’s time to move from manual risk management to structured, automated processes.
2. Meeting regulatory demands: DORA and NIS2 call for deep, demonstrable risk analysis. Non-compliance isn’t just a legal risk—it’s a reputational one.
3. Protecting data and customers: High security standards are essential to prevent breaches that could erode customer trust.

The limits of traditional approaches

Many companies still rely on manual processes and tools that weren’t built to handle today’s regulatory complexity. This outdated model comes with clear drawbacks:

• Long turnaround times and high error rates
• Lack of a comprehensive risk overview
• Difficulty keeping up with new compliance requirements

Cegeka’s answer: A future-ready TPRM solution

To simplify and automate risk management, Cegeka has developed a flexible, next-gen TPRM platform available in two tailored versions:

• WEMAIND: An advanced solution for companies seeking maximum automation and customization. WEMAIND enables automatic risk assessments, freeing up your team to focus on strategic priorities.
• WETAKE: A ready-to-use, standardized solution that helps structure a certified, traceable process. It includes pre-built questionnaires and integrates selected data sources to support supplier evaluations.

With Cegeka, TPRM becomes more than a compliance task—it becomes a strategic opportunity to boost resilience and create added value.

Get ready - The future won’t wait

Regulatory deadlines are fast approaching. Investing in a modern risk management solution today means protecting your business tomorrow—and turning a potential challenge into a competitive edge.

Request a free demo: Contact us today to see how Cegeka can help your organization manage third-party risks effectively.

¹ NIS2 has been in effect since October 2024. DORA compliance is required by January 2025.
² Source: Gartner, Third-Party Risk Management Benchmarking Report