There’s More to Know About the New Features in Risk and Compliance

[teresalaw]

There always seems to be more to talk about around the integrated risk portfolio of products at ServiceNow. A previous blog highlighted:

• The Next Experience that simplifies how frontline business users, 2^nd line risk and compliance, and 3^rd line internal audit teams get work done.
• New risk intelligence feeds integrations from Interos and EcoVadis that provide an external view of ESG, financial, operational, and other risks your vendor might pose.
• Updates to our Business Continuity Management solution that provided better planning, approval workflows, and reporting.

Now, I’d like to call your attention to a few more great features that are also available on the ServiceNow Store.

• New front-line experience via Employee Center. IRM has been integrated into Employee Center to more easily report risk events, acknowledge policies, and more.  This is an example of the way risk and compliance is embedded into daily workflows and familiar user experiences.

• Privacy Risk Assessments allow you to utilize the same IRM advanced risk management capabilities you currently use to assess technology, cyber, or enterprise risk to perform inherent risk assessments for privacy.

• Policy and Compliance enhancements
• • Digital Enterprise Fabric will allow users to relate 'Policy as Code' Engine results to control compliance
  • Support for O365 including OneDrive integration and redlining in Microsoft Word for policy authoring and collaboration

• The new Heat Map Workbench allows you to view your Risk profile in a more flexible and intuitive way showing inherent and residual risk count, ID, or name.

But there’s more… We’ve also added:

• Metrics for IRM. A compliment to our “pass/fail” indicators, metrics allow you to track more threshold-based use cases (KRIs and KCIs) as well as other data types such as number, percentage, monetary amount.
• Security & access enhancements​ such as the ability to mark records and risk events confidential, assign access rights and hierarchies of access or approvals.
• Fourth-party management for VRM including the ability to identify and manage 4th parties

You can see live demos of these new features and more in our Ask the Experts series:

• What’s new for Risk Management
• What’s new for Privacy Management
• Learn about the integration between EcoVadis and Vendor Risk Management
• What’s new in Policy & Compliance Management
• What’s new in BCM
• Dive into supply chain resilience with Interos and Vendor Risk Management

Learn more about IRM/GRC at www.servicenow.com/risk and join us for Knowledge 2022, virtually and in-person, to see these enhancements for yourself, learn about where IRM is going next, and network with your peers.