A typical workflow for advanced package failure analysis usually focuses around two key sequential steps: defect localization and defect characterization. Defect localization can be achieved using a number of complementary techniques, but electro optical terahertz pulse reflectometry (EOTPR) has emerged as a powerful solution. This paper shows how the EOTPR approach can be extended to provide solutions for the growing complexity of advanced packages. First, it demonstrates how localization of defects can be performed in traces without an external connection, through the use of an innovative cross-sectional probing with EOTPR. Then, the paper shows that EOTPR simulation can be used to extract the interface resistance, granting an alternative way of quantitative defect characterization using EOTPR without the destructive physical analysis. These novel approaches showed the great potential of EOTPR in failure analysis and reliability analysis of advanced packaging.