ServiceNow Japan Strengthens Operational Risk Management | ServiceNow Japan GK Press Release

ServiceNow Japan LLC (headquarters: Minato-ku, Tokyo, President: Masashi Murase, hereinafter referred to as ServiceNow Japan), which provides digital workflow solutions, today provides an “operational risk” product that can grasp and manage all operational status in real time. We announced that we have added functions to operational risk management, including adding IT system risks to various business risks in the enterprise, and improving resilience.

In today’s situation, the global spread of the new coronavirus and economic, geopolitical, and climate change turmoil continue to increase the risks of businesses and organizations. ServiceNow has helped the company reduce operational risks, but now we provide new features that can effectively manage the risks caused by operational failures and improve resilience. This will enable companies to eliminate silos of systems and organizations, automate workflows, and manage operational risks more effectively. Even in an environment where work styles are constantly changing, it is possible to build a solid foundation to enhance the flexibility of all business operations and continue business.
In the future, we will further strengthen our support for risks and network security in major industries such as financial services, government agencies, and healthcare.

The new features added this time are:

• Operational flexibility management: Operational flexibility management can provide continuous visibility and impact-based guidance even in isolated environments. This enables each business department 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. It is expected to be listed in November 2020, and it will effectively comply with the FCA (Financial Conduct Authority) regulations on business operational flexibility and meet a wider range of needs. This feature is also included in the professional and enterprise versions of integrated risk management products.
• Enhanced risk management for third parties:It provides great flexibility to better monitor the suppliers and supply chains that are important to your company’s products, services, customers, and employees. It supports supplier hierarchy (hierarchy) and subsidiaries, and can highly evaluate each level in the hierarchy based on different risk areas (such as bankruptcy, delivery date, and network security). You can download these features of ServiceNow® Supplier Risk Management from the ServiceNow Store.

The flexibility and risk management of all business operations are closely linked. Operational risk management covers many types of risks, including business continuity, resilience, technology, third parties, data loss, regulations, and network security.

The challenge of effectively managing operational risk comes from different teams, data sets and tools, which are located in different locations. Because each team has different priorities, risk types and methods, most of the work is usually done manually or in spreadsheets, and risk management is because each review requires a series of new tasks. The person in charge cannot manage and report the risk structure comprehensively and effectively.

As part of this new feature, ServiceNow has an advanced risk assessment engine that allows you to manually or automatically assess all types of risks in various ways. This can realize risk management integration in a wide range of areas. The engine meets the needs of each business unit to define and evaluate risks in a unique way, so that self-assessment can be facilitated automatically or manually at the forefront of operations. The engine also simplifies the identification of violation controls and the monitoring of high-risk areas, while tracking any risk events as part of integrated risk management.

By adding new functions that are core elements of the business, COOs and operational risk managers will be able to achieve effective risk management, thereby eliminating organizational silos. .. Although other risk and flexibility solutions require extensive customization and integration, the new features announced here can be integrated with the company’s existing corporate workflows, such as human resources, customer service, and IT workflows. Fully integrate risk indicators to minimize implementation work, delays and additional costs.

In addition to this new feature, ServiceNow also has a new framework and regulatory change management to support key industries, such as government, financial services, and healthcare industries, which need to meet various strict regulatory requirements. Also provided. With support for NIST RMF, CIS top 20 controls, Bank of International Payments (BIS) guidelines and change management to automatically update regulations, organizations can effectively manage compliance. You can also manage external and internal resources more effectively, promote workflow automation, and increase consistency and accountability.

ServiceNow has been an industry leader in integrating IT, security, human resources, customer service, and other organizations’ workflow data and risk management processes to provide the latest integrated solutions on the Now Platform. ServiceNow’s risk management solutions can continuously monitor, determine priorities and automatically respond to risks, so it is considered one of the leaders in Gartner’s Magic Quadrant for Comprehensive Risk Management. ..

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