Third-Party and Supply Chain Risk
Build a more resilient and trusted supply chain
Toro helps organisations understand supplier risk, identify critical third parties and apply proportionate assurance throughout the supplier lifecycle.
From due diligence and supplier assessments to ongoing monitoring, we help organisations reduce exposure, strengthen governance and build more resilient supply chains.
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How Toro helps
Identify critical suppliers
Toro helps organisations understand which suppliers create the greatest risk.
Most organisations have hundreds of suppliers but only a small number create meaningful operational, security or regulatory exposure.
Toro helps identify which suppliers support critical services, access sensitive information or create significant business dependencies, allowing assurance efforts to be focused where they deliver the greatest value.
We help organisations:
- Identify critical suppliers
- Classify supplier risk
- Map business dependencies
- Develop supplier tiering frameworks
- Assess operational exposure
- Prioritise assurance activities
The result is a clearer understanding of supplier risk and where oversight should be focused.
Make informed onboarding decisions
Supplier risk should be understood before commitments are made. Toro supports proportionate due diligence that helps organisations assess whether a supplier’s security, governance and resilience arrangements are appropriate for the role they will perform.
Wherever possible, we look beyond questionnaire responses to consider available evidence, critical dependencies, contractual expectations and the potential impact of supplier failure or compromise.
We help organisations with:
- Supplier due diligence
- Cyber due diligence
- Governance and policy reviews
- Supply chain audits
- Procurement security support
The aim is to enable informed commercial decisions based on a balanced understanding of risk.
Maintain ongoing assurance
Supplier risk changes as services evolve, access expands, technologies change and business dependency increases. Toro helps organisations maintain proportionate oversight of higher-risk suppliers through periodic reassessment, targeted reviews and assurance reporting.
The aim is to identify material changes in supplier risk early and ensure oversight remains aligned to the importance of the supplier relationship.
We help organisations with:
- Periodic supplier reassessments
- Targeted supplier audits
- Ongoing risk monitoring
- Critical supplier reviews
- Supplier assurance reporting
- Activities to support remediation and continuous improvement
The result is that supplier risk remains understood and managed throughout the relationship.
Managed Security & Consultancy
People focussed
At Toro, people are at the core of everything we do – our team, our clients, and the partners we collaborate with.
We prioritise building trusted relationships, delivering consistently high standards, and providing tailored support that reflects the unique needs of every client.
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A continuous approach to supplier assurance
Third-party risk management is not a one-off onboarding exercise. Supplier relationships evolve, services change and business dependencies increase over time.
Understanding supplier risk, carrying out due diligence and maintaining ongoing assurance are all part of a continuous process that helps organisations adapt as suppliers and services evolve.
By bringing these activities together, organisations gain a clearer understanding of supplier exposure, improve governance and make more informed decisions about where oversight is needed.
What this delivers
Better supplier decisions
Procurement and onboarding decisions are informed by a clearer understanding of risk.
A clearer understanding of supplier exposure
Leadership gains a clearer view of supplier dependencies and third-party risk.
Improved risk oversight
Higher-risk suppliers receive appropriate oversight and assurance.
More efficient assurance
Time and effort are focused where they provide the greatest value.
Stronger assurance
Boards, customers and regulators gain assurance that supplier risks are being identified, assessed and managed appropriately.
More resilient critical services
Critical supplier relationships are understood, monitored and better prepared to support business continuity.
Why Toro
Organisations usually come to Toro when supplier assurance has become difficult to manage. They need a clearer understanding of where risk sits, which suppliers matter most and where effort should be focused.
Practitioner-led expertise
We understand how supplier relationships work in practice and help organisations balance security, operational and commercial priorities.
A converged approach
Supplier risk rarely exists in isolation. We consider cyber, physical, people and operational risks together, providing a more complete understanding of third-party exposure.
Independent perspective
Our assessments provide objective insight that supports procurement, governance and executive decision-making.
Proportionate and risk based
We build approaches that fit the way your organisation already procures, manages and reviews suppliers rather than introducing unnecessary bureaucracy.
Designed to scale
As supplier ecosystems grow, our approach continues to provide meaningful oversight without creating additional complexity.
Focused on long term resilience
Our objective is not simply to assess suppliers. It is to help organisations build supply chains that remain secure, dependable and capable of supporting the business as relationships evolve.
Organisations typically engage Toro when:
- They don’t know which suppliers are critical.
- Supplier assurance questionnaires have become difficult to manage.
- Regulatory or customer expectations are increasing.
- Existing supplier assessments are inconsistent.
- They need greater visibility of third-party risk.
- Procurement and security teams need a more proportionate approach.
Third-Party and Supply Chain Risk FAQs
Yes. Our approach is designed to scale by applying proportionate levels of assurance based on supplier risk rather than treating every supplier equally.
Absolutely. We work with existing procurement and supplier management processes, helping strengthen them rather than replacing them.
This depends on the level of risk. Critical suppliers should be reviewed more frequently than lower-risk relationships, particularly where services, access or business dependencies change.
No. We assess supplier risk more broadly, considering cyber security, physical security, governance, people, operational resilience and the potential impact on critical business services.
A structured third-party risk management approach helps organisations demonstrate due diligence, ongoing oversight and proportionate governance, supporting a wide range of regulatory and contractual requirements.
Yes. We regularly review existing supplier relationships to identify changes in risk, validate controls and support ongoing assurance.
Risk tiering classifies suppliers according to factors such as system access, physical access, data sensitivity, business criticality and operational dependency. This allows organisations to focus assurance where it matters most.
Understanding supplier dependencies and maintaining ongoing oversight helps reduce the likelihood of third-party issues disrupting your organisation and provides greater certainty that critical services can continue to operate.
Third-Party and Supply Chain Risk
Start the conversation
If you need a clearer understanding of supplier risk, greater certainty in your procurement decisions or a more sustainable approach to third-party assurance, Toro can help.
Whether you’re developing a supplier assurance programme, reviewing critical suppliers or strengthening third-party risk management, we’ll help you establish an approach that supports informed decisions, stronger governance and more resilient operations.
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People focussed
At Toro, people are at the core of everything we do – our team, our clients, and the partners we collaborate with.
We prioritise building trusted relationships, delivering consistently high standards, and providing tailored support that reflects the unique needs of every client.
