Third-party Risk Management
Centralized process to identify, assess, and manage risk associated with third-party engagements.
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About
The ServiceNow® Third-party Risk Management application provides a centralized process for managing your third-party portfolio and completing the third-party assessment and remediation life cycle. Integration with other GRC applications provides additional traceability for compliance with controls and risks.
**Note:** In version 17.x, Vendor Risk Management was renamed to Third-party Risk Management.
Key Features
The Third-party Risk Management application includes the following features:
- Third-party portfolio - third-party hierarchy and third-party contacts
- Third-party engagements
- Tiering setup, tiering assessments, and IRQs
- Risk assessment setup, and risk assessments, including risk domains (risk areas)
- Configurable risk calculation
- Automated tiering and risk assessment submission rules
- Security score integration
- Issue management
- Support for third-party scores roll up to risk rating
- Reports and dashboards
- GRC Integration: associate policies and controls to questions in a third-party risk assessment
- GRC Integration: roll-up third-party risk information to an enterprise risk program
Version History (13)
+ 3 more versions