Secure Success with ServiceNow IRM Suite

The majority of businesses these days are facing an unprecedented level of cyber threats and the consequences of a successful cyber-attack can be catastrophic. From financial loss to reputational damage, the stakes are high. The ever-evolving complexity of the business environment only adds to the challenge, making it critical for organizations to stay ahead of potential risks.

From small startups to large corporations, every business is a potential target. With hackers constantly finding new ways to exploit vulnerabilities, a lack of proactive risk management can lead to devastating consequences.

For organizations looking to take control of their risk management strategy, ServiceNow’s Integrated Risk Management (IRM) solution is the way forward.

Gain the insight and data needed to identify sources of potential risk, assess their impact, and take proactive steps to eliminate or control them before they become a problem. By integrating real time data from various sources, you can be informed about potential risks ranging from financial investments, exposures, to compliance requirements related issues. ServiceNow IRM suite provides you with access to the information you need to successfully mitigate and manage the risks and safeguard your success.

Prioritize risks, assign ownership, track progress, take corrective or preventive action, generate reports, and monitor results over time.

An Overview

The principles of ServiceNow IRM: Drive better decisions with a comprehensive IRM framework
How ServiceNow Integrated Risk Management (IRM) can benefit your business

The principles of ServiceNow IRM: Drive better decisions with a comprehensive IRM framework

ServiceNow Integrated Risk Management (IRM) is a set of multifaceted tools for organizations that wish to create a culture of risk awareness. With its responsible governance model, thorough assessment process, and targeted response, ServiceNow IRM can provide an effective way to identify and mitigate risk, inform stakeholders, and monitor progress.

By implementing its principles, IRM provides an all-encompassing approach to improving business performance through thoughtful risk management:

1. Strategy – Identify, assess, respond, and monitor risk in an unceasing flow

2. Assessment – Comprehensive assessment techniques to flag and prioritize risks

3. Response – Counter mechanisms to ensure risks are addressed quickly and efficiently

4. Communication – Channels to ensure effective communication throughout the organization that captures individual reactions and responses

5. Monitoring – Tools designed to track risks in terms of objectives, ownership, responsibility, and compliance needs

6. Technology – Everything is interconnected with sophisticated technology solutions dedicated to implementation of the overall strategy

How ServiceNow Integrated Risk Management (IRM) can benefit your business

ServiceNow Integrated Risk Management (IRM) facilitates collaboration, communication, and comprehensive assessment of risks, enabling organizations to protect their business interests, and ensure successful project completion. Through the use of this solution, you can be sure of staying safe and secure in the long term regardless of the sector you operate in.

Let’s explore some scenarios:

1. Management Consulting Company

You’re a management consulting company aiming to eliminate time-consuming manual work and providing up-to-date visibility of compliance status. With ServiceNow’s IRM, you can connect and automate your IRM processes, increase scalability, eliminate time-consuming manual work, and provide up-to-date visibility of compliance status for executives. With ServiceNow in place you can implement policies and map authority documents, enabling streamlined reporting across regulations.

Additionally, ServiceNow can be integrated with SIEM (security information and event management) technologies, reducing the response time to security alerts and allowing you to manage risks more effectively. It will also provide scalable policies if there was initially an issue with the on-premise systems. Consequently, you are now able to provide increased value from your IRM processes throughout your organization.

2. Government Organization

You’re a government organization aiming to simplify your processes, fortify your safety and security measures, and be compliant with various regulatory requirements. ServiceNow IRM can help improve your overall risk posture by providing real-time visibility into risk and compliance data, as well as actionable insights and recommendations for mitigating potential threats. Protect critical assets, ensure the integrity of your systems and data, and maintain public trust and confidence in your operations. ServiceNow’s IRM suite of applications will make your policies more dynamic with automated approval processes and attainable information that can be accessed directly from the service portal.

Additionally, with ServiceNow Vendor Risk Management, risk surveys are now able to be completed more quickly since relevant questions can be directed toward a specific vendor. Furthermore, as you continue to use the Now Platform for your IRM solution, you can unlock innovative solutions and gain the ability to measure and optimize all the processes.

3. Insurance Company

You’re an insurance company aiming to enable faster recovery times, increase efficiency, and improve consistency in business continuity across all regions. ServiceNow’s IRM suite will optimize the digital workflows and enable you to pass vital information quickly between countries and automate vital operational controls. These digital workflows and automation will allow you to reduce time-consuming manual processes and save both time and money.

Amplify risk management performance with ServiceNow Integrated Risk Management

Reap the rewards of ServiceNow Integrated Risk Management with Zeb, Your Source for ServiceNow Solutions. We have been providing reliable and efficient professional services for many years and continue to empower businesses to take full advantage of ServiceNow IRM. With our expertise and guidance, you can expect dependable support throughout the entire journey—from planning and budgeting all the way to successful implementation. Our ways are results-oriented and tailored precisely to meet your needs, giving you the ability to prioritize risks, assign ownership, track progress, take corrective or preventive action, generate reports, and monitor results over time.

Make the most of your IRM investment by scheduling a demo with us.

ServiceNow’s Integrated Risk Management Suite can give you the insight and data you need to build a comprehensive risk management plan. Read the second part of this blog, where we take an in-depth look at the key applications of ServiceNow IRM and its purpose. Find out how this advanced suite of applications can help protect your business and ensure its future success.