Governance, Risk, and Compliance (GRC) with ServiceNow
ServiceNow offers a comprehensive suite of Governance, Risk, and Compliance (GRC) tools designed to enhance operational resilience and mitigate risks across enterprises. By integrating various aspects of risk management, business continuity, privacy, and third-party risk management, ServiceNow provides a unified platform that supports seamless data sharing and workflow automation.
Key Features of ServiceNow GRC
Integrated Risk Management
- Risk Monitoring: Continuously identify and assess high-impact risks to make informed decisions.
- Policy and Compliance Management: Automate policy lifecycles and ensure continuous compliance monitoring.
- Audit Management: Utilize risk data to prioritize audit plans and streamline cross-functional processes.
Business Continuity Management
- Crisis Management: Develop and test continuity plans to ensure quick recovery from disruptions.
- Operational Resilience: Strengthen operations to better serve customers and protect employees.
- Exercise Management: Regularly practice recovery plans to assess preparedness.
Privacy Management
- Privacy Case Management: Triage and resolve privacy breaches efficiently.
- Privacy Impact Assessments: Evaluate how personal data is handled to gauge risks.
- Automated Control Testing: Implement ongoing monitoring to swiftly identify and address violations.
Third-party Risk Management
- Due Diligence: Conduct thorough assessments at all stages of third-party relationships.
- Third-Party Portal: Centralize risk management activities for better collaboration.
- Risk Intelligence: Integrate risk intelligence scores for continuous monitoring.
Benefits of Using ServiceNow GRC
- Unified Platform: Built on the Now Platform®, ServiceNow GRC eliminates information silos by providing a single data source for risk and compliance management.
- Actionable Insights: Leverage AI-powered experiences to gain insights that drive smarter decision-making and improve business processes.
- Workflow Automation: Create no-code automated workflows to enhance efficiency and speed up responses to risks and compliance issues.
Use Cases and Real-World Applications
ServiceNow GRC is used by organizations worldwide to improve business resilience, comply with emerging regulations, and support growth. For instance, Canadian Tire utilizes ServiceNow to connect various processes, enhancing their business resiliency.
Pricing and Availability
ServiceNow offers flexible pricing models tailored to the specific needs of enterprises. For the most accurate and up-to-date pricing information, it is recommended to visit the official ServiceNow website or contact their sales team.
FAQs
What is GRC? GRC stands for Governance, Risk, and Compliance, a framework for managing an organization's overall governance, risk management, and compliance with regulations.
How does ServiceNow enhance operational resilience? ServiceNow enhances operational resilience by integrating risk management, business continuity, and privacy management into a single platform, allowing for seamless data sharing and automated workflows.
Can ServiceNow GRC be customized for specific industries? Yes, ServiceNow GRC can be tailored to meet the unique requirements of various industries, ensuring that specific compliance and risk management needs are addressed.
Explore the capabilities of ServiceNow GRC today and transform your organization's approach to risk and compliance management. to learn more or schedule a demo.
