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Integrated Risk Management (IRM)

In today’s ever-evolving business environment, fostering a culture of risk management and compliance is imperative. Centralized data management through Integrated Risk Management (IRM) solutions in ServiceNow serves as the foundation for aligning strategies with objectives, mitigating threats, and ensuring adherence to regulations. IRM not only enhances operational efficiency, proactively manages risks, protects assets, and preserves reputation but also fosters resilience in the face of crises and disruptions. 

The following subjects collectively play a vital role in establishing a comprehensive approach to risk management within the ServiceNow ecosystem, empowering organizations to take proactive measures in addressing a wide range of risk-related challenges:

Policy Management

Policy Management involves the creation, communication, and enforcement of policies within an organization. ServiceNow’s Policy Management solution helps in defining policies, tracking policy acceptance, and ensuring compliance with industry regulations.

Audit Management

Audit Management encompasses the process of planning, executing, and reporting on audits within an organization. ServiceNow’s Audit Management solution provides tools for managing audit processes, tracking findings, and ensuring corrective actions are taken.

Operational Resilience

Operational resilience focuses on an organization’s ability to continue operating effectively in the face of various disruptions. ServiceNow’s Operational Resilience solution helps in identifying critical business functions, assessing risks, and developing strategies to maintain operations during adverse events.

Business Continuity Management

Business Continuity Management involves developing and implementing plans to ensure that essential business functions can continue during and after a disaster. ServiceNow’s Business Continuity Management solution assists in creating and testing continuity plans, managing response efforts, and facilitating recovery activities.

Third-Party Risk Management

Third-Party Risk Management pertains to managing risks associated with third-party vendors and partners. ServiceNow’s Third-Party Risk Management solution helps in assessing and monitoring the risks posed by external parties, ensuring compliance with regulations, and maintaining strong vendor relationships.