Imagine the ability to see your enterprise risks in financial terms, trended over time, and based on the impact to your business. You’d then be able to identify when you’re above your risk threshold and drill down to determine what’s causing the increase – informing your response plan. You’d be able to manage your risk the way you do your business.
This isn’t just a dream, ServiceNow has partnered with RiskLens to invoke quantitative risk assessments directly from ServiceNow Governance, Risk, and Compliance. The results of the analysis are then exported back into GRC’s risk register, where they can be managed from the business perspective. Being able to view risk in financial terms allows you to answer some very pressing questions:
Figure 1: Communicating in financial terms
The RiskLens Platform is built on the Factor Analysis of Information Risk (FAIR) standard and provides additional data to prioritize risks, complimenting the qualitative and quantitative risk scoring methodologies used in the Risk Management application.
Issues are automatically generated based on identified risks. ServiceNow GRC provides a consistent process for creating and responding to issues, significantly reducing resolution time. Continuous monitoring enables you to quickly detect changes in your risk and compliance posture, improves decision making, and increases performance across your organization and with vendors
ServiceNow GRC and RiskLens work together to provide risk managers and decision makers an in-depth view of risks faced by the enterprise, and the means to manage and mitigate them effectively.
Existing RiskLens subscribers can access the integration for free, and new customers can contact RiskLens for a demo to experience the benefits. The RiskLens integration is available on the ServiceNow Store.
Learn more at www.risklens.com or www.servicenow.com/grc.
