Navigating Third Party Risk Management (TPRM) in the digital and geopolitical era

Strategies for resilience and compliance

In today’s fast-changing digital and geopolitical landscape, organisations face new challenges in managing risks linked to their suppliers, service providers, and digital platforms. Companies are now expected to take responsibility not just for their own actions, but also for the resilience and conduct of their partners. This shift is driven by growing societal expectations, complex supply chains, and stricter regulations. Therefore, PwC's experts created the whitepaper: Navigating Third Party Risk Management in the digital and geopolitical era - Strategies for resilience and compliance.

Key European regulations shaping TPRM

Recent EU initiatives, such as the Digital Operational Resilience Act (DORA), the Network and Information Security Directive 2 (NIS2), and the Artificial Intelligence Act (AI Act), are changing the rules. These laws make organisations directly liable for risks that used to be managed by third parties. As a result, it’s more important than ever to build strong TPRM frameworks into everyday business operations. 

From back office to boardroom

TPRM is no longer just a back-office function—it’s a board-level priority. Without clear ownership and integrated processes, organisations risk legal, operational, and reputational harm. The pace of regulatory change, unpredictable global events, and rising cyber threats make it essential to move beyond static assessments and embrace real-time monitoring and contingency planning.

Building a strong TPRM framework

To tackle these challenges, organisations should: 

• Embed TPRM into governance and procurement processes

• Ensure risk, legal, security, and business teams share accountability

• Standardise and automate due diligence, monitoring, and incident response

• Use data, technology, and AI to improve supplier visibility and risk assessment 

• Harmonise oversight and contracts to scale TPRM across regions

Strategic benefits of proactive TPRM

Organisations that invest in proactive TPRM can:

• Speed up procurement and improve negotiation power 

• Boost resilience against supply chain, cyber, and geopolitical disruptions

• Strengthen brand trust and turn compliance into strategic value

Taking action

No matter where you are on your TPRM journey, you can start by: 

• Aligning regulatory requirements with business goals

• Engaging stakeholders and building a case for value protection

• Streamlining onboarding and maintenance

• Embedding automation and efficiency into TPRM practices 

Conclusion

Moving from a reactive, compliance-driven approach to a proactive, strategic TPRM framework helps organizations meet regulatory demands and build lasting success in an unpredictable world.