ServiceNow Japan has added new features, such as operational risk management to support changes in regulatory requirements: EnterpriseZine

ServiceNow Japan announced on November 18 that it has added operational risk management functions and enhanced the flexibility of product “operational risk management” to grasp and manage operational status in real time.

The new features added this time are as follows

• Operational flexibility management:Providing continuous visibility and impact-based guidance in an isolated environment enables each business unit to understand and manage the operational risks of key business processes. Specifically, it calculates and tracks the resilience of technology, suppliers, offices and facilities, and talents, and recommends actions based on risk scores and the scope of affected processes.
• Enhanced risk management for third parties:Supports supplier hierarchy (hierarchical structure) and subsidiaries, and can highly evaluate each level of the hierarchy according to different risk areas (such as bankruptcy, delivery date, network security, etc.).

As part of the new features announced here, it has an advanced risk assessment engine that can evaluate all types of risks manually or automatically in a variety of ways. This will integrate risk management in a wide range of areas.

In addition to this new function, it will also provide regulatory change management functions to support key industries subject to the new framework and strict regulatory requirements, such as the government, financial services and healthcare industries. With support for NIST RMF, CIS top 20 control, Bank of International Settlements (BIS) guidelines and change management to automatically update regulations, organizations can effectively manage compliance.