Definition : Third-party vendor

A third-party vendor is a company or individual that provides goods or services to a business or organization, but is not directly affiliated with or employed by that entity. These vendors are often contracted by businesses to fulfill specific needs, such as supplying products, managing services, or providing support. Unlike first-party vendors, who are part of the same organization, and second-party vendors, who are closely related to the organization, third-party vendors operate independently and may have multiple clients. They play a crucial role in the modern business landscape, offering specialized expertise and resources that can enhance efficiency and productivity. However, businesses must carefully select and manage third-party vendors to ensure quality, security, and compliance with regulations.

Discover the Precise Definitions of Marketing Terms

Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt