Cynomi has launched its Third-Party Risk Management (TPRM) module. Delivered as an add-on to the Cynomi vCISO Platform, the new capability integrates vendor risk management into existing service providers’ workflows.
The global third-party risk management market, valued at $7.42 billion in 2023, is forecast to more than double, reaching $20.59 billion by 2030. Cynomi’s new TPRM module opens up a valuable business opportunity for service providers. It helps their clients deal with a pressing challenge: managing risks from complex vendor ecosystems while also meeting regulatory requirements and growing customer expectations.
Cynomi’s TPRM provides MSPs and MSSPs with a scalable way to deliver these critical services. By cutting vendor assessment times from 7 – 16 hours down to just 1.5 – 4.5 hours, Cynomi TPRM users can work up to 79% faster. This efficiency directly translates into higher profitability, with margins rising up to 20%. In addition, the module enables service providers to sell premium vendor risk services and advisory engagements at affordable levels.
The key capabilities of the new TPRM module include:
- Integrated with Cynomi’s vCISO platform – One unified system for internal and vendor risk management.
- Purpose-built for MSP/MSSP workflows – Designed around multi-client, structured workflows, reusable vendor assessments and user roles.
- Automated risk scoring and standardized assessments – Reduces manual work, errors, and subjectivity.
- Shared vendor intelligence across clients – Eliminates redundant assessments for common vendors.
- Guided workflows and templates – Easy-to-follow to accelerate onboarding and vendor assessments.
- Risk heatmap visualization and 1-click reports – Instantly demonstrate value to clients, ensuring clarity and consistency.
“Third-party vendors are now a critical piece of every organization’s security picture, yet most MSPs and MSSPs struggle to manage vendor risk for their clients effectively,” said David Primor, Ph.D., CEO of Cynomi. “Our new TPRM module solves this by combining automation, shared intelligence and purpose-built workflows into one unified system. This module launch reflects our mission to empower service providers to become true strategic advisors to their clients, delivering stronger security with higher profitability.”
With the launch of TPRM, Cynomi now provides MSPs and MSSPs with a view of both internal and external risks, enabling streamlined reporting, improved audit outcomes to support confident client decision-making.
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