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Third-Party Risk Management

In today’s interconnected business landscape, managing third-party risks is crucial for maintaining operational resilience and protecting sensitive data. ServiceNow’s Third-Party Risk Management (TPRM) suite offers a comprehensive solution to streamline and enhance your organization’s risk management processes.

The key components of this suite and the benefits are:

Automated Due Diligence and Assessments: ServiceNow’s TPRM suite automates the due diligence process at all stages of third-party relationships. This includes initial onboarding, periodic reassessments, renewals, and offboarding. By automating these processes, organizations can ensure consistent and thorough evaluations of their vendors.
Risk Intelligence Integration: Integrating targeted risk intelligence scores and ratings, the TPRM suite offers insights into the risk profiles of third parties. Continuous monitoring of these scores helps organizations proactively identify and mitigate potential risks before they escalate.
Risk Concentration Map: The Risk Concentration Map provides a visual representation of the risk exposure across different vendors. This tool helps organizations identify areas of high risk concentration and take appropriate actions to mitigate those risks.

ServiceNow’s Third-Party Risk Management suite is designed to help organizations navigate the complexities of vendor risk management with ease and confidence. By leveraging these powerful tools, you can enhance your risk management processes, protect your business, and build stronger, more resilient vendor relationships. Learn more at: ServiceNow.com

Integrated Risk Management

In today’s complex business environment, managing risks effectively is crucial for maintaining resilience and compliance. ServiceNow’s Integrated Risk Management (IRM) suite offers a comprehensive solution designed to help organizations navigate these challenges with confidence.

The key components of the Integrated Risk Management suite and their benefits include:

Risk Assessment: ServiceNow’s IRM suite enables organizations to identify, evaluate, and prioritize risks systematically. By automating risk assessments, organizations can gain real-time insights into potential threats and vulnerabilities, allowing for proactive risk mitigation. This component helps in making informed decisions and prioritizing resources to address the most critical risks.
Policy and Compliance Management: Ensures that your organization adheres to internal policies and external regulations. This component centralizes policy management, making it easier to maintain and update policies as needed. Automated workflows streamline compliance processes, reducing manual effort and minimizing errors. Real-time monitoring provides insights into compliance status, enabling proactive management of potential issues and ensuring regulatory adherence.
Audit Management: Simplifies and automates audit workflows, from planning to execution and reporting. This component ensures that your organization is always prepared for internal and external audits, improving audit readiness. By focusing audit efforts on high-risk areas, organizations can maximize the impact and efficiency of their audit activities.

ServiceNow’s Integrated Risk Management suite provides a holistic approach to risk management, offering numerous benefits including improved visibility, increased productivity, and enhanced compliance. Learn more at: ServiceNow.com

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