Cynomi unveils TPRM module to speed up vendor risk processes
Cynomi has introduced a Third-Party Risk Management (TPRM) module as an add-on to its vCISO platform for managed service and security service providers.
The new module is fully integrated with existing Cynomi workflows and is aimed at helping service providers manage the risks associated with increasingly complex vendor ecosystems. As demand for vendor risk management grows due to heightened regulatory requirements and customer expectations, the TPRM module is presented as a way for MSPs and MSSPs to streamline assessments and deliver more efficient services to clients.
Market growth
Industry figures suggest that the global third-party risk management market was valued at $7.42 billion in 2023 and could rise to $20.59 billion by 2030. Against this backdrop, Cynomi positions its new module as a business opportunity for service providers to expand their service offerings. By automating various aspects of vendor assessment, Cynomi claims its TPRM solution can reduce the time required for assessments from between 7 to 16 hours to as little as 1.5 to 4.5 hours. The company says this can enable users to operate up to 79% faster, with margins improving by up to 20%.
Along with time-saving, the new module enables providers to offer tiered vendor risk services and advisory engagements to clients at competitive rates, potentially expanding revenue streams.
Platform capabilities
The module includes several features such as integration with the Cynomi vCISO platform, so users can manage both internal and vendor risks through a single system. It has been designed for MSPs and MSSPs working with multiple clients, supporting structured workflows, reusable vendor assessments, and definable user roles.
The TPRM module provides automated risk scoring and standardisation of assessments, aiming to minimise manual tasks, reduce input errors, and limit subjectivity. Shared vendor intelligence is included, allowing providers to avoid repeating assessments for vendors already evaluated across different clients.
Other features include guided workflows, templates, risk heatmap visualisation, and one-click reporting, enabling providers to present clear and consistent risk information to clients. These resources are intended to speed up onboarding and simplify the entire assessment process.
"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., Co-founder and 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."
Reporting and audit benefits
The TPRM module also delivers a central view of both internal and external risks, designed to help providers generate streamlined reports and improve audit outcomes for their clients. This is intended to support client decision-making by making risk exposure and assessment details more accessible and actionable.
The launch of the TPRM module reflects ongoing trends in the cybersecurity industry, where providers are expected to address not only their clients' direct vulnerabilities but also those introduced via third-party vendors and partners.
The company says that with the new module, MSPs and MSSPs are better positioned to deliver services that meet both regulatory standards and the growing expectations of clients seeking proactive risk management.
