ServiceNow Vendor Risk Management (VRM) helps organisations continuously monitor critical vendors so businesses can evaluate, mitigate and remediate risks.
Vendor Risk Management
This app is now called Third-party Risk Management.
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Benefits of Vendor Risk Management Improve visibility
View the status of assessments, issues and tasks across your third-party ecosystem.
Make better decisions
Identify emerging risks using assessments and continuous monitoring.
Boost efficiency
Improve collaboration while automating processes and consistent workflows across your third parties.
Manage risk across the enterprise
See a holistic view of risk that includes third-party risk scores and IRM portfolio integration.
Features of Vendor Risk Management Read Brief Tiering management
Tier third parties accurately to determine assessment frequency and define the scope of questions.
Monitoring framework
Use scores and ratings from content providers to supplement risk assessment data.
Assessment management
Use online assessments for faster, higher-quality responses.
Supplier portal
Connect and collaborate with vendors in a single home for all exchanges.
Additional Features Portfolio management
Eliminate spreadsheets with a single database of third-party product info and a self-service portal.
Issues and remediation
Automate issue generation, design remediation plans and chat in real-time to resolve issues fast.
Third-party hierarchies
Define parent-child relationships to appropriately represent and assess subsidiaries.
Aggregated risk scores
Calculate risk scores throughout the hierarchy for an up-to-date, top-down and bottom-up view of risk.
Risk areas
Assess each engagement based on areas of risk, such as bankruptcy, delivery and security.
Single Sign On (SSO)
Improve security for third-party contacts while seamlessly authenticating into the Supplier Portal.
IRM integration
Integrate with other applications in the GRC portfolio for an extended enterprise view of risk.
Integration with Vendor Manager Workspace
Manage third-party performance and risk in one destination with Vendor Manager Workspace integration.
Resources See All Resources Analyst Reports The Forrester Wave™: Third-Party Risk Management Platforms, Q2 2022 Case Studies Novartis Eliminates Complexity by Consolidating IT Systems
How to get Vendor Risk Management

Vendor Risk Management is available with Governance, Risk, and Compliance. Manage risk and resilience in real time.

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