Cynomi: Third-Party Risk is Untapped MSP Revenue Opportunity

Cynomi has released its latest industry guide, The Rise of Third-Party Risk Management: Securing the Modern Perimeter, offering a practical roadmap for MSPs to formalize, scale, and monetize third-party risk management (TPRM).

Scaling third-party risk management

According to the guide, TPRM represents the largest untapped recurring revenue opportunity for managed service providers beyond human cyber risk.

Cynomi says the guide comes amid escalating supply chain threats and increasing regulatory pressure. Citing a Gartner study, the security vendor noted that 45 percent of organizations worldwide are expected to experience attacks targeting their software supply chains. 

It also referenced a Verizon study showing that 30 percent of data breaches now involve third parties. 

Convergence of risk and regulatory pressure opens new revenue streams for partners

According to the guide, this convergence of risk and regulatory pressure is creating a high-margin opportunity for MSPs to move beyond operational IT services and establish governance-led, recurring-revenue models centered on vendor risk oversight. 

This, Cynomi says, positions TPRM as the next major growth engine for MSPs.

“Human risk became a breakout growth category for MSPs over the last several years. Third-party risk is next,” said David Primor, Ph.D., co-founder and chief executive officer at Cynomi. 

“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.”

Cynomi also pointed to expanding vendor ecosystems and tightening regulatory frameworks, including SOC 2, HIPAA, CMMC, NIS2, ISO 27001, and DORA, as key drivers pushing organizations toward more structured governance over vendor risk exposure.  

Cynomi’s platform automates TPRM within MSP workflows

Cynomi highlighted that vendor reviews have historically relied on manual questionnaires and spreadsheet-based tracking, which are difficult to scale and compress service margins. 

In response, Cynomi embeds automated, structured third-party risk management directly into MSP workflows, transforming TPRM from a labor-heavy consulting task into a repeatable managed service that scales across entire client portfolios without proportional increases in headcount.

With Cynomi, service providers can:

• Centralize vendor oversight across all clients
• Automate vendor assessments and risk scoring
• Align vendor risk with leading regulatory frameworks
• Deliver executive-ready reporting and governance visibility
• Reuse shared vendor intelligence across multiple clients
• Connect vendor risk insights to broader advisory and remediation services 

To support partners, Cynomi is offering a limited-time Cynomi Pro NFR license with TPRM included through June 30. 

This enables new and existing MSPs to operationalize vendor governance internally while demonstrating measurable security maturity to clients. 

Partner perspectives: SlashBlue

In the official press release for the guide, IT provider SlashBlue highlighted how Cynomi’s platform and TPRM capabilities helped the organization reduce manual work and streamline third-party risk measurement.

“We moved from a competing platform to Cynomi specifically because of its TPRM capabilities,” said Dennis Boone, president of SlashBlue. 

“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.”

Cynomi’s TPRM industry guide provides partners with practical ways to operationalize third-party risk management, demonstrate governance maturity, and unlock new recurring revenue opportunities.

In February, Cynomi expanded NIS 2 support in Croatia and Belgium. Learn more about how the move helped MSPs scale AI governance and fractional CISO services across the UK and EU markets.