RFP Template: Evaluate Third-Party Risk Management Vendors with Confidence 

Leverage a focused, organized question set that zeroes in on the most critical aspects of third-party risk management (TPRM) platforms. 

Technology evaluations drain momentum. Cut through vendor noise. Ask the questions that matter. 

Selecting a third-party risk management (TPRM) platform shouldn’t require decoding marketing claims or reverse‑engineering regulatory expectations. 

Our comprehensive Request for Proposal (RFP) Template gives you a clear, structured, and regulator‑aligned way to evaluate vendors—so you can make confident, defensible decisions. 

Why RFPs Often Fall Short: 

92% of technology users cite reasons why tech investments haven’t fully delivered expected results, including integration complexity and data issues, underscoring how hard it is to realize the full value of technology without rigorous evaluation.¹ Traditional RFPs often exacerbate this problem. Requirements are simplified to the lowest common denominator, leaving vendors little room to differentiate themselves. Too often, decisions come down to price rather than true expertise. Our RFP template was developed by TPRM experts with decades of knowledge and provides a structured framework that focuses on the core topics organizations need to make confident, informed third-party risk management decisions from the very start.

— Dave Rusher, Chief Customer Officer, Aravo 

A Smarter Way to Evaluate Vendors 

This laser‑focused question set is designed to expose meaningful differences between TPRM platforms across the full third-party lifecycle and the capabilities regulators expect organizations to demonstrate, including:  

  • Vendor focus and viability 
  • Platform architecture and extensibility
  • Third-party lifecycle coverage 
  • Risk assessment and scoring
  • Risk domains and regulatory alignment
  • Due diligence and evidence management
  • Issues management and remediation
  • Continuous monitoring and intelligence
  • Artificial intelligence
  • Reporting, access, and controls
  • Security, privacy, and compliance
  • Implementation and support

Designed by professionals and refined through real‑world evaluations, this template aligns seamlessly with modern regulatory expectations. 

Download Aravo’s Request for Proposal (RFP) Template today and start evaluating vendors with clarity, consistency, and confidence. 

¹ PwC Digital Supply Chain Survey  

Download the Request for Proposal (RFP) Template