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Vendor Risk Management (VRM) is the process of screening suppliers for potential hazards before signing a deal. Despite how often they might assist a firm in success, vendors can also pose a danger.

As a result, businesses must have a contemporary, straightforward, and rock-solid Vendor Risk Management (VRM) — also known as Third-Party Risk Management (TPRM)— the system in place to monitor and mitigate risks connected with third-party services and products even before they pose damage.

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