ServiceNow is often considered as a platform offering IT Service Management (ITSM), IT Operations Management (ITOM), IT Business Management (ITBM), and other features. But one feature that is overlooked is ServiceNow’s powerful, native Governance, Risk, and Compliance (GRC) management capabilities.
In this post, we clear the air on ServiceNow and discuss five myths and the reality of using it on a day-to-day basis:
ServiceNow is just ITSM – Despite many believing that ServiceNow is only an ITSM tool, it is more than capable of being a GRC management tool. The dedicated ServiceNow GRC platform offers numerous tools and integrations to help simplify GRC management in the enterprise.
It offers numerous benefits - helping you improve the quality of business decisions, unlock real-time visibility into GRC health, increase business-wide productivity, and more. ServiceNow GRC achieves this with dedicated tools, such as Vendor Risk Management, Business Continuity Management, Policy and Compliance Management, and numerous others.
Fully setup CMDB is mandatory for GRC – A configuration management database (CMDB) is a useful tool for managing data on software applications, business services, and hardware assets. With GRC, many people believe that a ful setup CMDB is required before they can get started with configuring and implementing their GRC solution.
In reality, ServiceNow GRC is more than capable of growing alongside your fledgling CMDB. GRC will require basic information like asset names, asset locations, and relationships between assets, but this is all you need to get started. This means you won’t need to delay your GRC initiatives due to insufficient data availability, allowing you to get up and running on ServiceNow faster.
Fully populated risk entity list – The ServiceNow Risk Management platform is perfect for keeping on top of known and potential risks to your business. By proactively assessing your business and continually analyzing high-risk events, you can reduce the likelihood of a disaster occurring or have a massive impact on operations.
ServiceNow GRC can grow as you learn about business risks, meaning you don’t need a fully populated Risk Entity list. As you identify more risks and integrate more services or software applications with ServiceNow, your risk understanding will grow, allowing you to augment risk frameworks via GRC further.
Pre-existing GRC tools – When you already own GRC software, it can be challenging to justify migrating to another platform for the same basic functionality. While this is true in most cases, the benefits offered by the ServiceNow platform should be enough to convince you otherwise.
ServiceNow allows you to manage ITSM, ITOM, ITBM, and IT Asset Management (ITAM) through a single platform with the addition of GRC, which pulls data from these other modules via native integration. This means you have less administrative overhead and more robust functionality at your disposal, thanks to ServiceNow’s integrated nature, making it the ideal choice.
ServiceNow GRC is time-consuming – Traditional GRC tools are notoriously difficult to set up and maintain over time. This often results in significant time being spent managing GRC, reducing productivity and efficiency.
Instead, ServiceNow is accommodating, allowing you to configure the platform to suit your specific business requirements. Since these configuration settings are included with the platform, there is no need for manual coding or development work. You purchase a license, edit your configuration, and start managing your GRC!
GRC is essential for businesses as it helps them control access to data and maintain adherence with regulations and laws. Risk mitigation is also vital today, considering threats lurk around every corner.
If you consider using ServiceNow for GRC management, get in touch with our experts who will be more than happy to assist you further. Trianz holds a Premier Partner Status with ServiceNow, making us your ideal assessment and implementation partner.
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