What's New in Zurich Release for IT Asset Management for Financial Services

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Introducing Asset Audit Response

Launched during our Q3 Store release on July 31, 2025, as part of the Zurich ServiceNow Platform release.

Asset Audit Response is a new application that is a part of IT Asset Management for Financial Services, a new product under IT Asset Management that is a supplement to Software Asset Management and Hardware Asset Management. Asset Audit Response delivers an audit-ready workspace for financial services to manage their IT assets. With enhanced asset visibility, streamlined evidence workflows, and proactive compliance measures, this helps firms stay ahead of regulatory demands like the Federal Financial Institutions Examination Council (FFIEC), New York Department of Financial Services (NYDFS), Digital Operational Resilience Act (DORA), and more.

Asset Audit Response connects asset teams with risk to workflow evidence requests and simplifies asset compliance reporting. It enables assert managers to access point-in-time data, prior reporting comparisons, and recommended actions to reduce matters requiring attention (MRAs), audit time, and risk.

There are six main capabilities of Asset Audit Response:

Manage compliance process in Audit Workspace

Managing audit engagements can be challenging due to fragmented communication channels, scattered regulatory requirements, and disorganized evidence collection. By reducing reliance on legacy communication methods and centralizing audit engagement management within the audit workspace, organizations can streamline their audit processes significantly. This integrated platform provides direct access to critical regulatory content, including FFIEC and NYDFS guidelines, ensuring that audits align with the latest compliance standards. Additionally, it allows users to create evidence requests tied specifically to control objectives within each audit engagement, enhancing clarity and accountability throughout the audit lifecycle.

Manage the response of evidence requests

Keeping track of evidence requests, due dates, and remediation tasks can be overwhelming and prone to delays without a centralized system. The asset governance workspace addresses this challenge by enabling efficient management of evidence requests, allowing teams to monitor progress and remediation efforts in one place. This centralized visibility helps organizations track improvements in response times, ensuring timely compliance and issue resolution. Furthermore, it empowers users to take immediate action on new evidence requests, driving accountability and accelerating the overall governance process.

Utilize the guided experience to fulfill the evidence request

Reviewing detailed information about requests and the required evidence can be time-consuming and prone to miscommunication, leading to delays and compliance risks. By integrating with compliance systems, this solution ensures that records remain synchronized, facilitating clear and efficient communication about any issues related to scope or the need for additional clarification. This seamless connection helps streamline the review process, reduces errors, and enhances collaboration between audit and compliance teams, ultimately improving the accuracy and timeliness of evidence collection and review.

Build evidence and identify gaps in data

Ensuring accurate and timely evidence collection can be hindered by unclear task ownership and undetected data gaps, leading to inefficiencies and compliance risks. By assigning evidence tasks directly to subject matter experts (SMEs) responsible for the relevant data or processes, organizations can significantly boost productivity and accountability. Additionally, leveraging remediation rules and tasks helps identify gaps in the data early, allowing teams to address issues proactively and maintain the integrity of audit and compliance efforts.

Verify, remediate, submit to complete the process

Delays and incomplete evidence collection can stall audit processes and jeopardize compliance efforts if progress is not closely monitored. By tracking the progress of evidence collection and ensuring that remediation tasks are completed on time, organizations can maintain momentum and adherence to deadlines. Furthermore, reviewing the evidence responses prior to submitting them to the compliance team helps verify accuracy and completeness, ultimately satisfying the originating requests efficiently and reducing the risk of follow-up issues.

View evidence provided and submit to auditors

Managing audit evidence submissions can be challenging without a streamlined process for review, approval, and documentation, often leading to delays and lack of accountability. By reviewing the evidence submitted by the Asset team and obtaining the necessary approvals, organizations ensure the accuracy and completeness of responses. Once approved, submitting the response to auditors and formally closing the engagement helps maintain a clear audit trail. Additionally, cataloging evidence requests for future reporting use enables efficient retrieval and supports ongoing compliance efforts, reducing duplicated work in subsequent audits.

Asset Audit Response provides workspaces where asset managers can manage their regulatory audits, request evidence for these audits, respond to these requests through a guided experience, and access regulatory content data to help drive more efficient and accurate responses to these requests. 

To learn more about Asset Audit Response, check out the Zurich release notes.