Third-Party Risk Management

Ensuring Compliance, Resilience, and Efficiency

Why it matters?

In today’s interconnected financial ecosystem, organizations rely heavily on third-party vendors and ICT providers. With increasing regulatory scrutiny, managing third-party risks is no longer optional—it’s essential.

Check EU 2023/2841 regulation

How to navigate regulatory demands?

DORA, NIS2 and other EU regulations are game-changers, reshaping how financial institutions approach operational resilience, ICT risk, and vendor management. Failing to address third-party risks can result in operational disruptions, financial losses, and regulatory penalties.

ServiceNow’s Third-Party Risk Management (TPRM) solution empowers organizations to not only meet compliance standards but also build a foundation for operational excellence.

Ensure Compliance

Easily meet the regulatory requirements, covering lifecycle management, due diligence, and contractual clauses

Proactive Risk Management

Identify, monitor, and remediate risks before they escalate, ensuring minimal disruptions to your operations

Streamlined Contract Management

Manage contracts throughout their lifecycle – drafting, approval, renewal, and termination – all within a single platform

Improved Decision-Making

Make data-driven decisions using real-time dashboards and performance analytics

Enhanced Operational Resilience

Align third-party risk management with your broader resilience strategy to ensure business continuity

Automation for Efficiency

Save time and reduce human error with automated workflows and approval processes

Holistic approach to Third-Party Risk Management

ServiceNow provides an integrated, end-to-end platform that simplifies and automates third-party risk management. It ensures that your organization remains resilient in the face of increasing third-party dependencies.

Operational resilience and third-party risk management are not one-time tasks—they are ongoing, strategic priorities. With ServiceNow, you gain a scalable, efficient, and intelligent platform that grows with your organization.

Centralized third-party portfolio

Risk identification & mitigation

Automated workflows

Real-time insights

Complete visibility for better control

Gain full visibility into your vendor ecosystem and associated risks, ensuring transparency across all third-party relationships

Proactive risk management made easy

Assess risks in real-time, define effective mitigation strategies, and continuously monitor vendor compliance

Efficiency through smart automation

Simplify and standardize onboarding, renewal, and offboarding processes to reduce manual errors and save time

Data-driven decisions at your fingertips

Access live dashboards and analytics to make informed decisions and respond swiftly to emerging risks