Third-party management refers to the processes and systems used to monitor, evaluate, and control the risks associated with external vendors, contractors, and suppliers. This includes assessing financial, legal, and operational risks.

Vendor risk assessment involves evaluating the security, financial stability, and performance risks of third-party vendors before engaging with them. It helps identify potential vulnerabilities that could impact an organization.

Service integration involves combining multiple IT services, applications, or systems into a cohesive infrastructure that operates smoothly. It focuses on ensuring interoperability, automation, and efficient data exchange between services.