ServiceNow Vendor Risk Management Today more than ever, third-parties are key partners in business success. Enterprises continue to increase reliance on third parties to help accelerate innovation, digital transformation, and growth. But this greater interdependency exposes organizations to higher risk – a third-party’s risk and compliance posture directly effects your own risk posture, resilience, and reputation. Until now, vendor risk management has been a time-consuming and error-prone exercise comprised of spreadsheets, email, and legacy vendor risk management tools. ServiceNow Vendor Risk Management transforms the way you manage vendor risk and build supplier resilience by contextualizing and connecting third- party risk to business success. It delivers reporting on vendor risk and issues, a consistent assessment and remediation process, and increased efficiency through automation, while driv ing transparency and accountability with third- party stakeholders and aligning with overall enterprise risk management to create an integrated v iew of risk. Dashboards and reporting Dashboards and reporting provide v isibility into your vendor tiering, risk and tier assessment plans, open issues, and risk across your vendor ecosystem. Dashboards are customizable, while reports can be scheduled or run on- demand. Both are a standard part of the platform. Vendor portfolio The vendor portfolio is your database of vendors and vendor information. This includes the vendor contacts you interact with, the business serv ices and products the vendor fulfills, vendor assessment records and documentation, along with other general vendor information. As your vendor ecosystem becomes more complex, you can set up vendor hierarchies if you work with several related entities, as well as create specific vendor engagements. Risk assessed can then be rolled up and aggregated for a vendor. The existing company table within ServiceNow is the default for compiling vendor data. Vendor information can be updated manually or be integrated with an existing supplier management system, using the Now Platform® integration capabilit ies. Also, a self-service portal is available so vendors can maintain and update their own information. Increase employee and vendor efficiency Automate redundant, manual tasks, like sending, tracking, and processing assessments Respond quickly and more confidently to issues Increase productiv ity by focusing on vendors based on risk. Improve resilience and risk posture Enrich decision making by improving information quality Limit risk exposure and mitigate issues quickly through continuous monitoring at scale Enhance risk monitoring by leveraging advanced technology and the accessibility of a mobile, cloud- based solution Integrate across the enterprise Contextualize vendor risk by embedding it into business workflows Build operational resiliency by integrating vendor risk with enterprise & operational risk programs in a single platform Connect and collaborate with vendors as business partners through the unique Vendor Portal © 2022 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks a re trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated. SN_DataSheet_TEMPLATE_JAN_2022 servicenow.com