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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 at unprecedent growth. And as firms move to the cloud, access and proprietary information is being shared across a dynamic ecosystem of potentially hundreds of separate entities, each with vastly different security protocols.

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.

Benefits of automation in vendor risk management

  • Consistency & Quality: Run detailed, standardized assessments that drive the root of information security, privacy and resiliency matters
  • Speed:
    • Rapidly onboard vendors, services and contracts
    • Reduce time to assess and deliver facts to decision makers
  • Collaboration: Maintain efficient communication and collaboration between the business sponsors, vendors, and third-party risk management (TPRM) team
  • Risk intelligence: Dashboard and reports highlighting critical suppliers and their related risks and gaps
  • Improved operational resiliency: Easily associate with other ServiceNow data assets, such as; VRM, IRM, APM, BCM
  • Demonstrate compliance: Tick and tie vendor assessments with multiple compliance regimes

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.

Edgile ServiceNow Vendor Risk Management (VRM) Demo

ServiceNow Vendor Risk Management Resources