Top 8 Companies Providing Third-Party Risk Management Consulting Services
Third-party risk management (TPRM) has become a critical business function as organizations increasingly rely on vendors, suppliers, cloud providers, and other external partners to support operations. While these relationships can drive efficiency and innovation, they also introduce risk.
Building and maintaining a mature TPRM program can be challenging, particularly for businesses with complex vendor ecosystems or limited internal resources. TPRM consulting firms can help you design risk management frameworks. In this article, we examine the fundamentals of third-party risk management and highlight eight leading companies that provide TPRM consulting services.
How to Decide Whether You Need a TPRM Consultant or Just Software
Choosing between a TPRM consulting company and a software platform depends on your organization’s maturity, regulatory obligations, and internal resources. While software can automate assessments and monitoring, consultants often help design programs, establish governance, and address complex risk and compliance requirements. Here are some key factors to consider:
Program, platform, or both: If you do not yet have documented policies or vendor governance processes, you may need help building a TPRM program before implementing software.
Internal risk, compliance, and security team capacity: Strong internal teams can often manage a TPRM platform and perform assessments independently. Smaller teams with limited bandwidth may benefit from consultant support.
Regulatory exposure: Organizations operating under frameworks such as HIPAA, SOC 2, financial services regulations, or other industry requirements may require additional expertise to ensure their vendor risk program aligns with regulatory expectations.
Formalized vendor review process: If vendor reviews are still managed through spreadsheets, email threads, and inconsistent documentation, software can provide standardized workflows and centralized tracking. More mature programs may focus on optimizing existing processes rather than building them from scratch.
Vendor due diligence, risk scoring, and remediation: Many organizations struggle with conducting thorough due diligence. Consultants can help establish methodologies and perform assessments, while software can automate questionnaires, risk scoring, issue tracking, and continuous monitoring.
Software before or after advisory support: If your TPRM requirements are well-defined, implementing software first may accelerate efficiency and scalability. If your organization is still defining governance, advisory support often delivers better results before investing in a platform.
Top Companies Providing Third-Party Risk Management Consulting Services
Tevora
A cybersecurity and risk advisory firm focused on helping organizations strengthen oversight of vendors and business partners, Tevora is a trusted provider of TPRM consulting services. The company works with clients to evaluate and mature TPRM programs, offering support across critical areas such as vendor due diligence, risk tiering, contracting processes, program governance, metrics, and documentation. Tevora also conducts tailored third-party assessments designed to match each organization’s specific risk landscape and regulatory requirements.
Drawing on deep expertise in governance, risk, and compliance, Tevora takes a practical, collaborative approach that empowers organizations to identify, prioritize, and mitigate third-party risks without disrupting business operations. Its consulting services are designed to strengthen vendor oversight and build greater resilience across increasingly complex third-party ecosystems.
Baker Tilly
Baker Tilly is a global advisory and consulting company that helps organizations build and strengthen TPRM programs. The firm takes a lifecycle approach to vendor risk, supporting clients with due diligence, compliance program design, ongoing monitoring, and risk assessment services. Baker Tilly is particularly well suited for organizations in highly regulated industries that need structured, scalable processes to reduce compliance exposure and improve third-party transparency.
Crowe
Crowe is a global firm whose dedicated specialists provide strategic consulting, independent program reviews, vendor and fourth-party assessments, ongoing monitoring, and technology enablement services. With deep experience across risk assessment and cybersecurity domains, Crowe supports organizations in identifying and mitigating vendor-related risks while improving program efficiency, regulatory alignment, and long-term resilience.
RSM
RSM delivers third-party risk management consulting through a holistic, risk-based strategy. Rather than offering a standalone software platform, RSM combines governance, risk assessment, compliance, cybersecurity, and operational expertise to build tailored TPRM programs. Its methodology emphasizes ongoing monitoring and process optimization, helping clients strengthen oversight, improve operational efficiency, and reduce third-party risks across strategic, regulatory, reputational, and cyber domains.
CBIZ
CBIZ approaches third-party risk management through a broader risk and compliance advisory framework that combines vendor oversight, internal audit, enterprise risk management, and supply chain resilience services. The firm emphasizes structured risk identification and governance processes optimized for managing third-party exposures throughout the vendor lifecycle. Its consulting-led approach is ideal for organizations seeking to strengthen compliance and integrate third-party risk into a wider enterprise risk strategy.
CLA
CLA is a national professional services firm with deep expertise in risk, governance, and compliance. It specializes in building mature third-party risk management programs that align with strategic objectives and regulatory expectations. Its consultants take a practical, tailored approach to vendor and enterprise risk, offering risk assessments and governance design. Drawing on multidisciplinary expertise in cybersecurity, internal audit, and compliance, CLA empowers clients to strengthen oversight of third-party relationships while creating sustainable, scalable risk management frameworks.
EisnerAmper
EisnerAmper is a strong option for those seeking TPRM consulting services that combine vendor oversight with broader enterprise risk and compliance objectives. The firm helps businesses identify, assess, and monitor risks associated with third-party relationships, drawing on expertise in technology risk management and internal controls. Its advisors take a practical, risk-focused approach to evaluating vendor security and optimizing governance frameworks.
Wipfli
A leading advisory, accounting and consulting firm with deep expertise in governance, risk and compliance, Wipfli provides comprehensive TPRM consulting services. Leveraging its expertise in cybersecurity, regulatory compliance, internal controls and operational risk, Wipfli helps clients build structured vendor management programs that evaluate critical third parties across areas such as cyber risk, reputational risk, operational resilience, financial stability and legal compliance.
Final Thoughts
Deciding whether you need a TPRM consulting service depends on the capabilities of your existing vendor risk program and the complexity of your regulatory environment. Organizations that are building a TPRM program from the ground up, facing significant compliance obligations, or struggling to manage vendor assessments at scale often benefit from external advisory support.
When evaluating providers, look for firms with experience in your industry, expertise in relevant regulatory frameworks, and capabilities that extend beyond assessments to include program design and technology implementation. The right TPRM consulting partner should help you build a sustainable, risk-based program that aligns with your business objectives and can scale as your vendor pool grows.