Hi, 

I believe the follow will change:

• Menu items will change from Vendor to Third Party
• ServiceNow did a lot of work to ensure that those moving from VRM to TPRM can retain and maintain what they have, but can then start to leverage the new pieces of TPRM.
• Added onboarding workflows, new capability mapping, new OOTB risk assessments and questionnaires.
• Licensing for TPRM is structured as a base charge for the module and then 1 license count for the third party during a billing cycle if there is any subsequent ‘managed activity’ beyond the initial onboarding and risk assessment of a third party and new engagement.