Cynomi pioneers new revenue stream for MSPs with third-party risk management guide

Cynomi’s new guide aims to help MSPs turn supplier oversight into a scalable, recurring service, capitalising on rising supply-chain threats and regulatory pressures to unlock growth in third-party risk management.

Cynomi is urging managed service providers to treat oversight of suppliers as a repeatable revenue stream, publishing a guide that frames third‑party risk management as the next major growth area for MSPs as supply‑chain threats and regulatory deman...

Titled The Rise of Third‑Party Risk Management: Securing the Modern Perimeter, the guide lays out a stepwise approach for turning vendor governance, inventorying suppliers, standardising assessments, conducting ongoing reviews and producing executive‑ready reporting, into a recurring service offering. According to a Cynomi announcement, the publication is being promoted alongside a limited‑time Pro NFR licence that enables service providers to use TPRM capabilities for internal operations and demonstrations through 30 June.

Cynomi argues the change is driven by a rise in targeted supply‑chain attacks and heavier compliance burdens. The company cites Gartner’s forecast that 45 percent of organisations will face attacks against their software supply chains and refers to industry research placing third‑party involvement in roughly 30 percent of breaches. The guide notes assurance frameworks and regulations such as SOC 2, HIPAA, CMMC, NIS2, ISO 27001 and DORA are tightening expectations around vendor oversight.

The vendor says it has embedded TPRM features into its vCISO workflow tooling so providers can move vendor reviews from ad‑hoc projects to standardised processes. Capabilities described include centralised oversight across multiple clients, automated assessments and risk scoring, mapping to common frameworks, and shared vendor intelligence that enables reuse of assessments across customers. Cynomi claims the approach reduces manual work and accelerates assessment cycles, and points to product materials that assert assessment times can fall from several hours to as little as 1.5–4.5 hours while raising service margins.

“Human risk became a breakout growth category for MSPs over the last several years. Third‑party risk is next,” David Primor, Ph.D., Co‑founder and CEO of Cynomi, said. “Every organization today is deeply interconnected with a growing ecosystem of vendors, and with every new relationship, the attack surface expands in ways that are often invisible but increasingly consequential. The providers who standardize and scale third‑party risk management won’t just keep pace with this shift, they will define the next era of managed security services.”

MSPs that have adopted the platform report tangible operational gains. “We moved from a competing platform to Cynomi specifically because of its TPRM capabilities,” Dennis Boone, President of MSP SlashBlue, said. “It eliminated our spreadsheets, reduced manual work, and the shared vendor model is a game‑changer. We can assess a vendor once and scale that insight across multiple clients, saving time, resources, and money. The streamlined questionnaires actually get client engagement and give us a meaningful security baseline to measure third‑party risk.”

Market research offers differing perspectives on the sector’s size but agrees on strong expansion. According to Research and Markets, the global TPRM market is projected to grow from $3.8 billion in 2024 to $7.18 billion by 2030. Other industry analyses cited by media outlets and vendors put current valuations and forecasts higher, with at least one estimate suggesting a multi‑billion market that could more than double by 2030. These divergent figures underline both the attention TPRM is attracting and the variability in how the market is measured.

Industry observers caution that while shared vendor intelligence and automation can yield efficiencies, providers must still factor in client‑specific context, data sensitivity and contractual obligations when assessing suppliers. Operational questions for MSPs include which third parties merit review, how often reassessments should occur and whether remediation obligations sit with the MSP or the customer. The Cynomi guide recommends a staged roll‑out from inventory creation to standardised assessments and governance reporting to address these challenges.

Cynomi’s push positions vendor oversight as an extension of existing managed security services rather than a replacement for monitoring, incident response and advisory work. According to the GlobeNewswire release accompanying the guide, the company expects demand to increase as organisations face more scrutiny of their supply chains and growing expectations for evidence‑based governance.

Source: Noah Wire Services