Third Party Therapy Third Party Therapy - Oliver Jones - Should TPRM and Procurement work closer together - the evolution and technical solutions.
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Jul 21, 2025 
Oliver Jones, a procurement and TPRM consultant with deep financial‑services experience, discusses TPRM’s rise from a procurement sub‑function to board‑level focus. He explores scope divergence, reporting lines, and how digital tools like S2C and CLM can centralise supplier data. They cover single‑door intake, market platforms for due diligence, people‑first stakeholder work, and common transformation pitfalls.
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TPRM Evolved From Procurement Into Its Own Discipline
- TPRM began as a procurement sub-function but has evolved into a distinct board-level discipline as scope and regulatory focus grew.
- Oliver Jones notes divergence happens when TPRM scope broadens (fourth parties, intragroup) and when organisations are large enough to need dedicated focus.
Board Interest Drives Varied TPRM Reporting Models
- Board attention to TPRM often splits into recognising need versus understanding details; this affects resourcing and reporting lines.
- Mike notes aligning TPRM to SMF24 makes sense for regulatory accountability, though functions remain nomadic across CFO/COO/CIO structures.
Many Tools Lose Value Without An Integrated Ecosystem
- Multiple overlapping technologies (risk repositories, ServiceNow workflows, S2C platforms, CLMs) create friction for the same stakeholders.
- Oliver Jones highlights value comes from an ecosystem that gives one voice, one view and reduces repeated portal use.