ServiceNow named a Leader in Third-Party Risk Management Platforms by Independent Research Firm
March 06 2024 - 9:00AM
Business Wire
ServiceNow’s Third-Party Risk Management
solution recognized among top providers on heels of recent new
feature launches, acknowledging its position in the risk management
market
The solution is recognized for “connecting key
stakeholders across the organization around the TPRM lifecycle”
ServiceNow (NYSE: NOW), the leading digital workflow company
making the world work better for everyone, has been named a Leader
in the Forrester Wave™: Third-Party Risk Management Platforms, Q1
2024. This rating recognizes the ServiceNow Third-Party Risk
Management solution and comes on the heels of ServiceNow’s recent
Now Platform Vancouver release, which included automated inherent
risk questionnaires and out-of-the box due-diligence workflows
added to the solution to offer a more holistic, streamlined
approach to risk management.
According to the report, “ServiceNow’s strengths are strong
features to communicate and collaborate on risk internally and with
third parties.” ServiceNow is further recognized because, “Its
strategy builds on the success of its vast suite of products to
weave third-party risk management into business priorities.”
ServiceNow’s risk management solutions address the growing needs
of employees across the enterprise while also improving the
mitigation and management of ESG, Cyber, Financial, Regulatory,
Geopolitical and other risks impacting the organization's
third-party ecosystem.
“Diverse and resilient ecosystems of customers, suppliers, and
partners are a business imperative in today's climate,” said Vasant
Balasubramanian, VP and GM of Risk and ESG at ServiceNow. “With
ServiceNow’s Third-Party Risk Management solution, organizations
can effectively manage and mitigate risks typically associated with
third-party engagements, such as cybersecurity, compliance,
financial, environmental, or reputational. Our comprehensive,
intelligent solution enables customers to establish a consistent,
repeatable, and auditable enterprise-wide approach for a real-time
view of the organization’s third-party risk posture.”
ServiceNow’s Third-Party Risk Management solution helps
organizations optimize the third-party risk assessment process with
risk intelligence and insights, combined with ServiceNow’s
industry-recognized risk management capabilities built into the Now
platform. This enables organizations to:
- Improve efficiency by automating redundant, manual tasks, like
sending, tracking, and processing assessments.
- Breakdown siloes and increase compliance by standardizing
processes for third-party risk assessments.
- Help drive better decision making by improving information
quality and embedding risk assessments into business workflows,
including procurement.
- Build operational resiliency by integrating third-party risk
with enterprise and operational risk programs on a single
platform.
- Adhere to stringent global compliance standards like The
European Cyber Resilience Act, Digital Operational Resilience Act
(DORA), NERC-CIP, and other risk regulations.
Additional Information:
- Visit ServiceNow’s Third-Party Risk Management page for more
information on the solutions.
- Read a complimentary copy of The Forrester Wave Third-Party
Risk Management, Q1 2024, report
About ServiceNow:
ServiceNow (NYSE: NOW) makes the world work better for everyone.
Our cloud-based platform and solutions help digitize and unify
organizations so that they can find smarter, faster, better ways to
make work flow. So employees and customers can be more connected,
more innovative, and more agile. And we can all create the future
we imagine. The world works with ServiceNow™. For more information,
visit: www.servicenow.com.
© 2024 ServiceNow, Inc. All rights reserved. ServiceNow, the
ServiceNow logo, Now, and other ServiceNow marks are trademarks
and/or registered trademarks of ServiceNow, Inc. in the United
States and/or other countries. Other company names, product names,
and logos may be trademarks of the respective companies with which
they are associated.
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Courtney Johnson 925-405-2446 press@servicenow.com
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