ServiceNow’s Governance, Risk, and Compliance solution recognized as delivering “broad AI innovation plans” and featuring “strong risk monitoring and communication tools”
ServiceNow, the leading digital workflow company making the world work better for everyone, has been named a Leader in the Forrester Wave™: Governance, Risk, and Compliance, Q4 2023. This rating recognizes the ServiceNow Integrated Risk Management platform for Governance, Risk, and Compliance (GRC).
According to the report, “ServiceNow delivers automated GRC backed by broad AI innovation plans…Its superior roadmap and innovation strategies are forward-looking, targeting enhancements to digital experience across all lines of business, risk process automation at scale, and AI-led operations and insights throughout the risk management lifecycle.” … “The product features strong risk monitoring and communication tools, including automated metrics, intuitive dashboards, and extensive use of AI to enhance user experience and productivity.”
“An integrated, enterprise-wide approach to risk and compliance is paramount as organizations adapt and evolve in response to new business models, deploy emerging technologies such as generative AI, and confront a rising tide of regulations, threats, and cyber risks,” said Vasant Balasubramanian, vice president and GM, Risk and ESG, at ServiceNow. “ServiceNow GRC provides the essential framework for enterprises to embed risk and compliance management across workflows and experiences so organizations can swiftly assess the impacts on compliance obligations and overall risk posture associated with these transformative changes.”
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ServiceNow GRC, built on the Now Platform, empowers customers to break down silos across the business to more effectively manage risk, strengthen compliance, and build resilience enterprise-wide. ServiceNow’s intelligent platform combines workflows, automation, and integration with a single data model, unified architecture, and extensive configuration options so enterprises can mature and scale their GRC programs to:
- Identify and evaluate risk event likelihood and potential business impact based on aggregated data across the value chain, responding promptly to critical changes in risk posture.
- Streamline policy lifecycles following best practices, integrate compliance processes, continuously monitor embedded controls, and help ensure effectiveness to keep pace with regulations.
- Improve reliability of data for audits and disclosures and clearly define and prioritize audit engagements using risk data and profile information to reduce recurring findings, strengthen audit assurance, and optimize resources for internal audits.
- Use AI/ML to assign, group, and suggest risk remediation for smart issue management, reducing time spent from days to just minutes.
- Engage stakeholders at all levels in an organization, including the board of directors, with familiar user experiences to improve collaboration, increase transparency, and speed decision-making and response to risks across domains like tech and cyber, operations, privacy, third-party, internal audit, corporate compliance, and business continuity.
SOURCE: BusinessWire