ServiceNow: Recognized as a leader in IT risk management in the Gartner® Magic Quadrant for 2021 for the second consecutive year

ServiceNow (NYSE: NOW) is a leading digital workflow company dedicated to making people work better, and was named a leader by Gartner in 2021^® Magic Quadrant^™ Used for IT risk management. This is the second consecutive year that ServiceNow has been positioned as a leader and recognized for its integrated risk management (IRM) solutions. The ServiceNow solution integrates IT, security, risk, compliance, and business, using cross-functional workflow and AI/ML to automate processes and continuously monitor risk and compliance across the enterprise.

According to Gartner, “By 2023, 80% of organizations with a formal risk management plan will use IT risk management (ITRM) products to manage their network and IT risks, which is a significant increase from less than 45% today.”¹

The IT department’s mission is to plan for and mitigate risks that are becoming more and more urgent due to the changes triggered by COVID-19—including cybersecurity threats, productivity and health and safety issues, and new regulations. Through its unified platform, continuous monitoring and automation, ServiceNow embeds important risk management and compliance activities into employees’ daily work processes. Through this deep connection, organizations can gain a real-time view of risk and compliance, improve risk-based decision-making, and improve business performance.

“Due to daily interruptions and new ways of working, organizations are facing more cross-departmental risks, which makes it more important than ever to adopt an enterprise-wide risk management approach. Teams need to work together-combining IT and business data with risk, Compliance policies, processes and decisions are linked,” said Vasant Balasubramanian, Vice President and General Manager of Risk, ServiceNow. “Just last month, Gartner also named ServiceNow a leader in the Magic Quadrant for IT Supplier Risk Management Tools in August 2021. Together, we believe that this recognition proves that we are helping companies successfully navigate a challenging environment. , To establish a leadership position in resilience and risk management.”

The key components of ServiceNow’s risk and compliance portfolio include:

• Risk Management -Enable fine-grained business impact analysis to determine the overall priority of IT, security, and business risks, and respond to key changes in the risk landscape.
• Operational risk management -Assess operational risks, report risk events and enable enterprise-level risk reporting to protect stakeholders and maintain shareholder value.
• Policy and compliance management -Automate the best practice life cycle, unify the compliance process, and help provide assurance around the organization’s risk mitigation effectiveness.
• Audit management -Use risk data and profile information to determine the scope and priority of audit operations to reduce recurring audit findings, enhance audit assurance, and optimize internal audit resources.
• Supplier risk management -Develop standardized and transparent processes to manage the life cycle of risk assessment, due diligence, and risk response with business partners and suppliers.
• Business continuity management -As a key part of a strong comprehensive risk management plan, effective and efficient planning, exercise and recovery from disasters.
• Regulatory change management -Create a single taxonomy and integrate with regulatory intelligence providers and public RSS sources to assess the impact of changes and track seamless, end-to-end plan implementation.
• Operational flexibility management -Gain visibility and build resilience in business processes across technologies, people, facilities, and suppliers.
• Privacy management -Identify personal data, evaluate the possible impact of new or changing business processes or suppliers on privacy, and continuously monitor the process to proactively manage privacy risks and assist in fulfilling compliance obligations in accordance with changing global regulations.
• Continuous authorization and monitoring -Automate processes that support the Risk Management Framework (RMF), such as NIST RMF (used to obtain certifications such as cyber security maturity model certification), speed up the system launch, and achieve continuous authorization.

The 2021 Gartner Magic Quadrant for IT Risk Management is available here: https://www.servicenow.com/lpayr/gartner-it-risk-management.html

For more information about ServiceNow’s IRM solution, please visit: https://www.servicenow.com/products/governance-risk-and-compliance.html

¹ Gartner, Magic Quadrant for IT Risk Management, Brent Predovich and Claude Mandy, September 13, 2021.

Gartner disclaimer

Gartner does not endorse any suppliers, products or services described in our research publications, and does not recommend technology users to select only the highest-rated or other designated suppliers. Gartner research publications contain the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner does not assume any express or implied warranties for this research, including any warranties of merchantability or fitness for a particular purpose.

Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the United States and internationally and are used here with permission. all rights reserved.

About current service

ServiceNow (NYSE: NOW) is building a world of work to work better for people. Our cloud-based platforms and solutions provide digital workflows to create outstanding experiences and release productivity for employees and businesses. For more information, please visit: www.servicenow.com.

© 2021 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now and other ServiceNow logos are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names and logos may be the trademarks of the respective companies with which they are associated.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20210920005056/en/