Managing Core Company table third-party name

[Cheryl ODell]

We are implementing third-party risk management, and are having issues with variations of a company name being added to the core_company table, and trying to discern which entry should be the actual vendor.  Because so many modules feed into the core_company table, I understand how the different variations are getting created.  I've read about and we are considering normalization of company names, however, we are wondering if we should match what is listed in our legal agreements with companies to the normalized company name in ServiceNow? (for example, we are a healthcare organization and have Business Associate Agreements with different vendors/third-parties)  What do other TPRM customers do on maintaining vendors' names on the core_company table?  Is this managed by a system architect, or your GRC team?

Thanks!

[Mehdi ATTAR1]

Hi, 
For me it's a data foundation topic as company might be used in many other places, therefore the "rules" of the naming convention should go through your architect. 
A collaborative approach involving both the system architect and the GRC team is often the most effective, to make sure they can discuss.
Also matching the names listed in your legal agreements with the normalized company names in ServiceNow is a good practice. This helps maintain a single source of truth and ensures that all references to a company are consistent across different modules.