Third Party Risk Management (TPRM) - Life Sciences

Global TPRM Outlook Survey Results

Katie Dahler

Katie Dahler

Principal, National Life Sciences Leader, KPMG US

+1 973-912-6325

Jennifer Shimek

Jennifer Shimek

Principal, Advisory, KPMG US

+1 973-912-6167

Jilane Khakhar

Jilane Khakhar

Director, Advisory-Forensic, KPMG US

+1 212-954-1181

We’re pleased to share the findings of our Global Third Party Risk Management (TPRM) outlook 2020 survey conducted to obtain a global perspective of how businesses are assessing and managing third parties. This report closely aligns with the KPMG Global Advisory Regulatory change client issue approach.

Results have shown TPRM is an important business priority. Businesses are taking the proactive approach to explore, refine, and expand their existing processes through technology enablement and innovation. However, for many, TPRM remains a work in progress. Organizations need to improve business resilience across critical services by accurately understanding the role third parties play in delivering these services and appropriately assessing how they are able to manage risk and their reputation.

In this report, we set out our global key findings and provide our TPRM framework and methodology to help support organizations in their quest to improve and sustain their TPRM program. We’ve also developed a point of view focused on the risks associated with third-party relationships through the lens of the Life Sciences sector – a sector in which we continue to gain market momentum as demonstrated with the client win below.

Please reach out if we can be of further assistance.

An industry- agnostic version of this information can be found on our US Website.

Life sciences businesses battle a new world of risk
Managing third-party risk grows critical as regulations, technology and fraud advance