TPRA Third Party Risk Management Service Provider
Innovator Award

2025 Innovator Award Winner

Applications close Friday, February 13, 2026

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 regard 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.

AVAILABLE AWARDS

Excellence Award: GRC/TPRM Platform
Excellence Award: Risk Rating/Intelligence Tool
Excellence Award: TPRM Services
Third Party Risk Management (TPRM) Service Provider Innovator Award

TPRA will award one organization as our 2026 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.

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

Category Descriptions

Below you can find brief descriptions of the TPRM Service Provider categories available for this award. Please ensure you apply for the category that most accurately aligns with your organization's tools, products, and or services.

TPRM Platform

A software system designed to manage Third-Party Risk Management (TPRM) programs, which involves identifying, assessing, mitigating, and monitoring risks associated with external companies that an organization works with.

GRC Platform

A software tool that tracks, monitors, and manages governance, risk, and compliance activities at the enterprise level. This tool usually encompasses more than one risk-related department and encourages risk management at the highest level for an organization.

Risk Ratings/Intelligence Tool

A system or software application used to evaluate and quantify the potential likelihood and severity of risks associated with a particular incident or investment, typically assigning a numerical rating to each risk to facilitate prioritization and decision-making within risk management processes.

TPRM Services

An organization that assists with the implementation of TPRM programs and/or the completion of due diligence activities. TPRM Service providers can determine the maturity of your program and enhance operational capabilities.

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.

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