ServiceNow Vendor Risk Management
Transform vendor risk management.
Overview
ServiceNow Vendor Risk Management is part of the broader ServiceNow platform, providing a centralized process to manage the vendor portfolio, complete risk assessments, and monitor vendor performance. It automates the third-party risk management lifecycle, from initial due diligence to ongoing monitoring and eventual offboarding, integrating vendor risk data with other business processes within the ServiceNow ecosystem.
✨ Key Features
- Centralized Vendor Portfolio
- Automated Risk Assessments & Questionnaires
- Tiering of Vendors Based on Criticality
- Continuous Performance Monitoring
- Issue & Remediation Tracking
- Real-time Dashboards & Reporting
🎯 Key Differentiators
- Native integration with the broader ServiceNow platform, connecting vendor risk to IT and business operations
- Single data model and platform for all risk and compliance activities
- Powerful workflow automation capabilities (Flow Designer)
Unique Value: Provides a holistic view of vendor risk by integrating it directly with IT service management, security operations, and overall business context on a single platform.
🎯 Use Cases (4)
✅ Best For
- Third-party risk management for financial services and healthcare industries
- Integrating vendor risk into a broader enterprise risk management program
💡 Check With Vendor
Verify these considerations match your specific requirements:
- SMBs not already invested in the ServiceNow platform
- Simple procurement or purchase order management
🏆 Alternatives
Unlike standalone GRC/VRM tools, ServiceNow connects vendor risk directly to the assets and services those vendors support, enabling more effective impact analysis and remediation.
💻 Platforms
🔌 Integrations
🛟 Support Options
- ✓ Email Support
- ✓ Live Chat
- ✓ Phone Support
- ✓ Dedicated Support (Available tier)
🔒 Compliance & Security
💰 Pricing
Free tier: N/A
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