What is a third-party service provider?
A third-party service provider is generally defined as an external person or company who provides a service or technology as part of a contract. In the IT space, a third-party service provider typically provides a technology used to store, process, and/or transmit data that enhances an organization’s operational efficiency.
What is a third party logistics provider (3PL)?
What is the true Definition of A Third Party Logistics Provider? According to Wikipedia: A third party logistics provider (abbreviated 3PL, or sometimes TPL) is a firm that provides service to its customers of outsourced (or “Third Party”) logistics services for part, or all of their supply chain management functions.
What is the difference between a vendor and a third-party?
There is an exception. A "third-party" may not be a contracted entity, whereas the expectation would seem that an institution would have a contract in place with a "vendor" or "third-party service provider." Below are a few examples of how the FFIEC uses the terms "vendor" and "third-party" within the various IT Examination Handbooks: