ServiceNow GRC (Governance, Risk, and Compliance) was recognized as a Leader in the latest 2020 Gartner Magic Quadrant* report of IT Risk Management (ITRM) solutions.
Gartner reviewed a number of ITRM solutions for their ability to handle risks following from the changes applied to the management of digital and security, information, business continuity planning, IT and security compliance. The report recognized ServiceNow especially for the solutions for risk assessment and analysis, control assessment, as well as compliance and cybersecurity risk management.
Magic Quadrant for IT Risk Management tools and how they rank in July 2020.
Source: 2020 Magic Quadrant report for IT Risk Management
ServiceNow GRC – Governance, Risk, and Compliance
ServiceNow Governance, Risk, and Compliance specializes in risk assessment and analysis, control assessment, as well as compliance and cybersecurity risk management. From the Orlando release, the ServiceNow GRC provides a range of risk assessment improvements and supports an increasing number of out-of-the-box risk assessment types and automation of control monitoring.
The GRC suite is already widely applied by organizations that operate in the area of financial services, healthcare, education, life sciences, and government. The decisive aspects for customers who chose ServiceNow are platform functionality, performance, and a roadmap. The platform constitutes a single source of record. Apart from risk management, it offers a wide choice of features, workflows, and processes which may constitute valuable IT-risk data sources for GRC.
Source: GRC Product documentation / Orlando release
The other capabilities identified by ServiceNow customers and highly valued by them include sophisticated integrations with third-party tools, digital asset discovery, and near-real-time assessments.
GRC implementation & licensing
Customers most often deploy the platform on the ServiceNow’s infrastructure, however, it doesn’t exclude the possibility to implement on-premises. The platform is available via SaaS, in 2 licensing options: overall employee count or named users. Based on the customer’s subscription complexity and inclusion of other workflows, ServiceNow allows bundling that brings cost optimization.
Reach out to us to find out what GRC implementation can bring to your organization.
* Gartner Magic Quadrant research methodology provides a graphical competitive positioning of four types of technology providers in fast-growing markets: Leaders, Visionaries, Niche Players, and Challengers.