Vendor Risk Management (VRM) Services

Smarter and connected Vendor Risk Management with ServiceNow

In today’s interconnected business landscape, managing vendor relationships and mitigating risks has become crucial for organizations. Traditionally, managing vendor risk has been an inefficient and error-prone task, relying heavily on manual methods like spreadsheets, email, and essential tools for vendor risk management. ServiceNow offers a robust and comprehensive Vendor Risk Management Solution that helps businesses streamline their vendor management processes and ensure smooth on boarding and compliance tracking. ServiceNow provide a swift, intelligent, and interconnected approach to managing third-party risk and fostering supplier resilience. As a trusted system integrator partner, YASH Technologies brings added value to customers by leveraging our expertise and experience in implementing this solution effectively.

ServiceNow – A truly differentiated Third-Party Risk Management Offering

Cloud software offering

Manage risk on a cloud built for easy reliability and scale

Comprehensive view of vendor risk

Enable continuous monitoring of scale and AI-enabled issue notifications

Tight Integration

Embed risk with other risk and compliance functions through cross-functions apps, one platform and a common data model

Powered by the platform

All made easy with digital workflows. configurability, mobility, & AI

Key Features.

Intelligent Risk feeds

ServiceNow integrates with risk content providers to help clients monitor vendors for different types of risks, improving their supplier decisions and risk management strategies.

Issue Tracking & Remediation

Speed up issue resolution by automating issue generation, designing plans to address them, and engaging in real-time chat for prompt resolution.

Vendor Portal

Foster a collaborative environment for vendors through a centralized home for all interactions.

Tiering Management

Determine the appropriate assessment frequency and level of questioning by precisely classifying third-party entities based on their tier.

Monitoring framework

Combine the risk assessment data with scores and ratings from content providers to obtain a more comprehensive evaluation.

Assessment Management

Allows to track the assesment seamlessely from beginning to end and provide quicker and better-quality responses.

How ServiceNow Vendor Risk Management helps

Improve Visibility

Build a risk aware culture and drive resiliency across your entire third-party ecosystem with instant insights

Make Better Decisions

Identify emerging risks using assessments and continuous monitoring

Boost Efficiency

Automate redundant and manual tasks, respond quickly to issue notifications
and increase enmployee & Vendors productivity

Manage Risk across Enterprise

Enrich decision making, limit risk exposure through continuous monitoring, and enhance risk monitoring and mitigation through advanced technology

YASH Differentiators.

As a ServiceNow Premier partner, we bring 10+ years of experience and subject matter expertise to drive your ServiceNow initiatives from implementation to optimization.
Experience & Expertise – 100+ Best trained & certified resources with exceptional domain knowledge
Process Optimization – 22% overall workload decrease (efficiency gain) for vendor risk management
Value focused Delivery – We can implement GDPR uses cases in less than 3 months.
Cost Optimization – 30% annual vendor assessment and issue management self-service deflection of assessments due to being fully automated
We provide 24/7 support through our ServiceNow canters of excellence (CoEs) located globally.

Contact us today to learn more about how we can assist you in achieving vendor risk management excellence and drive long-term success for your organization.

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