Honeywell serves highly regulated global industries from aerospace and building automation to energy and industrial chemicals. The company is known for its ground-breaking inventions and continues to innovate with AI as its central technology catalyst.

Honeywell needs quick visibility to its risks and compliance posture to meet its heavy compliance requirements. Honeywell decided to modernize their governance, risk, and compliance (GRC) strategy by partnering with ServiceNow.

Honeywell started by integrating risk and compliance activity at an asset level by incorporating  Integrated Risk Management into the Configuration Management Database (CMDB) and Vulnerability Response applications. 

As part of the project, IT and business teams distilled regulatory and legislative requirements to 250-plus common controls across first, second, and third lines of defense. These controls, managed in the ServiceNow AI Platform, enable rapid risk assessment across the business.  Partner EY helped Honeywell develop and implement its strategic roadmap as an extension of the team.

Honeywell now spends less effort on regulatory readiness, completes control attestation 75% faster, and cuts new regulatory risk gap analysis to days. The company has a strong understanding of its vendor security posture and actively monitors priority suppliers. With a unified view of technology and security risks, Honeywell more easily adapts to the frequently changing landscape.

Honeywell plans to use Third-party Risk Management to gain a 360-degree view of risk and simplify management of customer contractual risks and vendor-supplier risks. With ServiceNow’s extensive functionality, Honeywell expects to expand use of out-of-the-box capabilities and strongly consider both managing its AI assets and further leveraging purpose-built AI capabilities throughout the ServiceNow AI Platform.