Risk management has always been a reality. It happens in everyday life, hoping for the best while planning for the worst. It follows that we incorporate risk management into our work lives as well. Now take this practice and scale it up to a business or organization. As part of a team, risk management starts to become a bit more complicated. When the team is relatively small, keeping on top of all of the risk factors can still be handled by simple record keeping; spreadsheets and email threads suffice, and perhaps it can still be managed by one or two team members. Now let’s project ahead to when your business successes have grown your team to dozens, possibly hundreds. In fact, it’s not just a team, but a team of departments, each bringing to the table their own risks to manage. You’ll need a one-stop-shop where every department and team member can work together toward the common goal of keeping on top of all potential risks.
What is ServiceNow IRM? It is a central hub from which your entire organization can easily collaborate and maintain Integrated Risk Management (IRM). It is built upon the Now Platform, a cloud-based application with a powerful workflow engine and native artificial intelligence (AI). ServiceNow continually monitors data collected both internally and externally from your third-party vendors, leading to faster response times and in turn, faster mitigation. With more and more companies embracing the digital transformation, timely and effective approaches to risk management become more important than ever. The digital world we embrace can change in risks and regulations at the drop of a hat. With a powerful application like ServiceNow, staying on top of these changes becomes a painless and efficient endeavor.
Remember the platform war between Windows and Mac? Some would say it never ended, but there was a time when the differences were profound. Mac users could often boast a more efficient workflow and visually intuitive interface elements, while many average Windows users could find themselves struggling without the assistance of an IT department. ServiceNow is the Mac equivalent of integrated risk management. It employs visually stunning dashboards, reports, forms, and layouts. It’s not just easy to grasp the state of your organization’s risks and priorities at a glance, you can also drill down into the finer details intuitively. And it’s not a completely out-of-the-box approach. It is built upon the same type of user interfaces we’ve already become familiar with in our daily lives: filling out online forms, carrying on conversation threads in social media apps, configuring app controls with checkboxes, radio buttons and dropdown lists, drag-and-drop elements. All of these practices that have become second nature to us are available in ServiceNow. You can start from a pre-built template and customize it to your heart’s content. Easily build custom workflows that make sense for your company’s goals.
Risk management is not a set-it-and-forget-it task. It is an ongoing process of staying on top of changes in regulations and policy changes both internally and from third-party (or even fourth, fifth, and beyond) vendors. With the right workflows in place, ServiceNow continually monitors your risk vectors for these changes. The intuitive real-time dashboards and reports keep you and your teams on top of these risks. From this one central platform, every privileged user in your organization can contribute collaboratively to manage and mitigate those risks in their areas. With all teams working in concert on integrated risk management, the digital transformation becomes a positive impact on their company’s success.
Are you ready to simplify your approach to integrated risk management? Perhaps you’ve already made the move into this powerful platform. In either case, NewRocket is here to support you. We offer professional services and consulting for ServiceNow IRM. Contact us today to find out how we can help you realize the true power of the ServiceNow cloud application.