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SERVICENOW VRM PARTNER
ServiceNow Vendor Risk Management (VRM)
NEWS
As of November 29, 2020
The United States and most other countries are facing unprecedented disruptions due to COVID-19. Remote workforces are expanding rapidly which is helping to minimize operational impacts in some areas. But the business impacts of global supply chain disruptions, ratings downgrades and increasing numbers of suppliers closing down are not yet fully understood.
Rapidly expanding third-party digital services create new risks
Organizations are accelerating their reliance on third-party vendors, business partners, supply chains, and digital services. This is also accelerating risks and presenting challenges for IT and risk and security teams.
Edgile’s centralized, scalable VRM solution
The ServiceNow Vendor Risk Management application provides a centralized process for managing a vendor portfolio. This enterprise-grade solution can scale to thousands of vendors and offers automated workflows with alerts and notifications. Eighty percent of the Fortune 500 are already using the ServiceNow platform and are positioned to benefit from the application’s automation capabilities and streamlined processes.
11 benefits of automation in vendor risk management
- Rapidly onboard vendors and upload pre-existing completed SIG Lite/Full questionnaires
- Create an inventory of vendors with rated risk tiers
- Establish vendor service assignments with spend analysis and analytics
- Run detailed vendor assessments with evidence, such as information security, privacy, BCP
- Streamline processes to request, store, and refresh supporting materials, such as certificates of insurance, business associate agreements, privacy and security policies
- Maintain efficient communication and collaboration between the business sponsors, vendors, and third-party risk management (TPRM) team
- Track remediation and refresh vendor risk profiles
- Re-score vendor risks without burdening the business
- Easily associate with other ServiceNow data assets, such as CMDB, Business Hierarchy, Application Portfolio Management
- Improve risk-based, pre-contract vendor selection capabilities
- Reduce time to assess and deliver facts to decision makers
Quick Start Packages
Our Vendor Risk Management Quick Start packages include workflows, configurations, and pre-built reports. Edgile can deploy the ServiceNow GRC Vendor Risk Management module, integrate it with complimentary platforms and provide ongoing managed services. We offer solution accelerators that quickly deliver critical answers to the TPRM team and help clients achieve rapid success in a cost-effective manner.
Experience how Edgile’s Vendor Risk Management comes together within our Risk and Security framework
WEBINAR: Managing digital risk—making it happen for IRM/GRC with ServiceNow
Presented by
Geeta Jhamb, ServiceNow
Greg Liebergen, Edgile
NEWS
As of November 29, 2020
The United States and most other countries are facing unprecedented disruptions due to COVID-19. Remote workforces are expanding rapidly which is helping to minimize operational impacts in some areas. But the business impacts of global supply chain disruptions, ratings downgrades and increasing numbers of suppliers closing down are not yet fully understood.
ServiceNow Vendor Risk Management Resources
Edgile Trusted Ecosystem – Third Party Risk Management
Are vendor putting your company at risk? As your organization moves more data to the cloud, access and proprietary information is being…
WEBINAR: Vendor Risk Management in the COVID-19 Environment by ServiceNow and Edgile
In the face of a global pandemic, organizations are accelerating their reliance on supply chains, vendors, and external services. This new reality…
More WEBINAR: Vendor Risk Management in the COVID-19 Environment by ServiceNow and Edgile
Vendor Risk Management in the COVID-19 environment and beyond
In the face of a global pandemic, organizations are accelerating their reliance on third party vendors, partners, supply chains and external digital…
More Vendor Risk Management in the COVID-19 environment and beyond
Connect with Edgile to get started
For details on how to optimize your existing TPRM program through the ServiceNow GRC Vendor Risk Management application, please contact your Edgile representative.