thanks for joining us today setting the stage for this persona targeted demonstration will take you through the user experience your vendor risk analysts and managers can look forward to and how it can help increase their efficiency improving the company's resiliency and risk posture while reducing the silos through a connected and integrated platform across the enterprise as a vendor risk manager my objective is to help improve our organization's resilience and risk posture with a focus on third parties we rely on and are doing business with for starters i need real-time visibility into the vendors or suppliers we've assessed and which ones pose critical or high risk to our business i also need the ability to slice and dice the data based on assessments performed on a vendor hierarchy or a specific engagement we're also detailed in that we break things down by different risk domain areas such as by reputational risk financial risk and others and these risk areas ultimately influence how we see the overall risk of a third party the servicenow vendor risk management solution offers out-of-the-box reports and dashboards that aggregate this data for me with the ability to build upon them through the servicenow platform's robust reporting and dashboarding capabilities over time and operationally we can further limit our risk exposure by mitigating issues quickly through continuous monitoring and real-time alerts this is possible through mapping vendor scope controls with specific questions in a vendor risk assessment questionnaire such that if the vendor or supplier enters an unfavorable response the system will auto generate an issue and fail the vendor's scope control for real-time compliance manager visibility risk events related to the supply chain that are reported out of servicenow's advanced risk solution can also serve as a source of continuous monitoring of third-party risk we can ultimately enrich decision making by improving our information quality through a common data model native to servicenow's integrated risk management solutions this allows us to build operational resiliency by integrating vendor risk with enterprise and operational risk programs in a single environment furthermore we can enhance risk monitoring and mitigation by building upon the rich existing data stored within the solution platform and leverage advanced technologies such as machine learning and predictive intelligence to make issues management easier this allows us to work faster and smarter not harder as we leverage it to automatically assign the best individual or group for newly identified issues based on historical relevant data another benefit of servicenow's vendor risk management solution is its effectiveness in increasing our employee efficiency and productivity by simply configuring tier-based and score-based submission rules we've automated redundant manual tasks like sending tracking and processing assessments we're also contextualizing vendor risk by embedding it into business workflows and connecting with business users for example our vendors and suppliers automatically receive an assessment as a result of performing an internal tiering assessment based on input from our business partners in security legal and others in a similar automated fashion security risk scores and data ingested from third party security risk scoring providers are used to auto send assessments when significant changes in scares occur such as a certain drop or increase in change percentage ultimately we've increased our productivity by focusing on vendors based on risk tier and finally we no longer have to follow up with our vendor or supplier contact since we have real-time visibility into their progress with more than just a simple sliding scale but direct access into their responses as they're completing them this allows us to get ahead of potential issues or concerns and helps us prepare accordingly in closing servicenow vendor risk management transforms the way you manage vendor risk through vital reporting of vendor risk and issues a consistent assessment and remediation process and automated assessment procedures it provides a means to facilitate stakeholder interactions drive transparency and accountability and effectively monitor vendor-related risks by aligning vendor risk management with overall enterprise risk management priorities you can create an essential integrated view of risk and a stronger extended enterprise risk posture on behalf of the servicenow team thank you for viewing this video and we hope you found it informative to learn more visit our website at www.servicenow