ServiceNow has the proven capability to transform IT and the enterprise, serving at the forefront of Platform-as-a-Service (PaaS) solutions. With such exponential growth over the past several years, companies are integrating this technology now more than ever. The V-Soft Labs team worked with a Fortune 500 international financial services company to configure ServiceNow workflows into their existing business processes, allowing them streamline processes and continue providing the best tools to their clients for managing and protecting assets.
A Lack of Integration
The financial services company controls many entities that have separate mappings across organizational units, making them hard to track and manage. This lack of integration lead to limited control over risk management, opening the company up to greater risk, security concerns and lower margins.
The Power of ServiceNow GRC
The team at V-Soft Labs worked with this client to configure ServiceNow workflows to align with their existing business processes. The solution? ServiceNow GRC (Governance, Risk and Compliance), which stores, manages and maps assets within its various organizational units.
The solution classifies and calculates risk and imports in-house and standard controls, which can all be measured and tracked conveniently through visual dashboards and reports, like the example shown above. ServiceNow GRC allowed for clear visibility into the relationship between risk and controls, providing the following benefits to the company:
- Increased clarity of governance and risk associated with every process by 98%
- Improved overall user experience of the risk management program by 60%
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