AWARD DETAILS

One of the objectives of the Third Party Risk Association (TPRA) is to promote the value that Third Party Risk Management (TPRM) Service Providers add with regards to advancing the TPRM industry as a whole.  In support of this objective, the TPRA created the “TPRM Service Provider Innovator Award” to recognize all of the work TPRM Service Providers put into delivering innovative, efficient, and effective tools and techniques for Practitioners to leverage to assess, mitigate, and manage the risk of third parties. 

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This year, TPRA will award one organization as our 2025 TPRM Service Provider Innovator. In addition, we will recognize three Excellence Award Winners across three categories: GRC/TPRM Platforms, Risk Ratings/Risk Intelligence Tools, and TPRM Services. There will be one winner per category. A minimum of five applicants per category is needed to move forward with that category. 

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AWARD TIMELINE

• Application Window Opens: Wednesday, January 1, 2025

• Application Window Closes: Friday, January 31, 2025

• Short List Communicated (top 3 per category): Friday, February 21, 2025

• Interviews Scheduled: Monday, February 24 - Friday, March 14, 2025

• Excellence Award Category Winners Announced: Friday, March 21, 2025

• Innovator Award Presented: Tuesday, April 8, 2025, at the TPRA 2025 In-Person Conference in Myrtle Beach, SC.

• Award Judges: TPRA Officers, TPRA Board Members, Select TPRA Practitioner Members in Various Industries

 

AWARD CRITERIA

• Any TPRM Service Provider organization may apply (does not need to be a TPRA Vendor Member). 

• Must be a TPRM Service Provider organization that offers a product and/or service to the TPRM Practitioner community at large to assist with identifying, assessing, monitoring, and/or mitigating third party risk.  (Ex. GRC Platform, TPRM Platform, TPRM Service Provider, Risk Rating/Intelligence Tool) 

• Actively advances the industry through pioneering and/or innovating TPRM solutions/services.  

• Regularly collaborates with Practitioners, Regulators, and/or other Service Providers in the creation, implementation, and/or delivery of their innovative products/services.   

• Advocates for and exemplifies social responsibility and philanthropy. 

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Contact Heather Kadavy at heather.kadavy@tprassociation.org with any questions about the award or application process.