How ServiceNow IRM helps Enterprises? 

ServiceNow IRM enable enterprises to modernize their legacy methods of managing corporate Governance, Risk and compliance. The significance of ServiceNow IRM is it brings all the governance, risk and compliance management activities together in one place through a dashboard, thereby providing enterprises true visibility in IRM management. ServiceNow IRM solution enables you to create and coordinate policies and controls and map them to regulatory and internal compliance requirements

ServiceNow policy and compliance management 

The ServiceNow Policy and Compliance Management product provides a centralized process for creating and managing policies, standards, and internal control procedures that are cross-mapped to external regulations and best practices. Additionally, the application provides structured workflows for the identification, assessment, and continuous monitoring of control activities. ServiceNow enables organizations to map their internal policies, standards, and procedures to external requirements. Control Objectives act as templates, allowing a single control or regulatory requirement to be applied to multiple parts of the business.

ServiceNow Risk Management 

ServiceNow Risk Management helps identify risks across organizational siloes through continuous monitoring and the Advanced Risk Assessment engine. The engine is built to address risk through an integrated risk framework which provides the ability to quickly identify, prioritize, and react to a wide variety of risks emerging throughout the organization with a single lens and common language.

• Identify risks in real-time
• Improve strategic planning and decision making
• Increase performance

ServiceNow BCM 

Disruptions are a persistent threat to any organization. Severe weather, natural disasters, supply chain disruptions, IT and utility outages all have the potential to bring business operations to a halt. ServiceNow Business Continuity Management (BCM) enables business and technology operations to plan, exercise, and effectively recover from business disruptions in less time.

• Make fast, informed decisions
• Easily identify gaps between IT capabilities and business needs across the enterprise

ServiceNow Audit Management 

Organizations must develop robust internal controls to mitigate risk; auditing the effectiveness of those controls ensures there are no gaps in risk mitigation. Whether it is information risk, investment risk, or risk of fraud and misappropriation of assets; auditing internal controls can help prevent and detect irregularities and mistakes before they negatively impact the organization.  The ServiceNow Audit Management application automates and consolidates much of the audit process, providing users with guided workflows that reduce errors and eliminate menial tasks.  Audit Management provides a centralized process for Internal Audit teams to automate the complete audit lifecycle. Project driven audits allow auditors to quickly scope engagements, conduct fieldwork, collect control evidence, and track audit observations.

Vendor Risk Management 

ServiceNow Vendor Risk Management transforms the way you manage vendor risk and build supplier resilience by contextualizing and connecting third-party risk to drive business success. It delivers reporting on vendor risk and issues, a consistent assessment and remediation process, and increased efficiency through automation, while driving transparency and accountability with third-party stakeholders and aligning with overall enterprise risk management to create an integrated view of risk

• Increase employee and vendor efficiency
• Improve resilience and risk posture
• Integrate seamlessly across the enterprise.