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Glossary › Third-Party Classification
What is Third-Party Classification ?
Classification organizes third-parties by categories such as IT services, cloud hosting, financial processing, or marketing support. It improves oversight by categorizing similar types of vendors together. In TPRM, classification supports standardized assessments and reporting.
FAQs
Why classify third-parties?
To streamline risk evaluations.
Is classification the same as tiering?
No, classification describes type, tiering describes risk.
Can classifications change?
Yes, as services evolve.
Responsible-AI TPRM Guide
Discover how risk teams apply AI responsibly to reduce third-party blind spots and stay audit-ready across global regulations.