ServiceNow, a leading digital workflow company that makes work, work better for people, has been named a Leader in the 2020 Gartner Magic Quadrant for IT Risk Management. ServiceNow was evaluated for its Governance, Risk, and Compliance (GRC) platform.
According to Gartner, “Security and risk management leaders experience increased demand for ITRM solutions originating from cybersecurity initiatives, board risk oversight and digital compliance obligations.” Moreover, “By 2025, 50% of global midmarket and large enterprises will depend on risk management solutions to aggregate digital risks in their business’s ecosystem, up from 10% in 2018.” 1
Exposure to risks are heightened as enterprises balance new workplace rules and business processes and continue to digitally transform their operations. ServiceNow’s GRC platform helps companies become more agile in their decision making by delivering real-time visibility into high risk areas and noncompliance through the Now Platform.
“We believe that Gartner’s recognition of ServiceNow’s GRC platform comes at a critical time during this new normal as companies are doubling down on their strategies for digital risk management,” said Vasant Balasubramanian, head of risk products at ServiceNow. “At a time when agility and resilience are imperative to business success, ServiceNow’s modern, cloud-based platform enables our customers to proactively manage risk across enterprise workflows.”
ServiceNow connects the business, security and IT within an integrated risk framework on the Now Platform. With the ServiceNow GRC platform, customers can:
- Improve decisions and performance with risk intelligence embedded in daily work and integrated across the enterprise.
- Gain real-time visibility into risk with continuous monitoring for risk and compliance – at scale.
- Increase productivity and reduce costs with automated cross-functional workflows that span operational silos.
- Effectively communicate with stakeholders across the organization through integrated reporting of current risk data supported by the Now Platform.
One of the strengths of the Now Platform is that it gives customers rapid access to new features. Since early 2020, ServiceNow has delivered new capabilities by expanding support for operational and vendor risk management as part of its quarterly release cadence through the ServiceNow App Store.