ServiceNow named an IT risk management leader

Digital workflow company ServiceNow has been named a leader in the 2021 Gartner Magic Quadrant for IT Risk Management. This is the second consecutive year that ServiceNow has been positioned as a leader and recognised for its Integrated Risk Management (IRM) solution.

The ServiceNow solution integrates IT, security, risk, compliance, and the business, using cross-functional workflows and AI/ML to automate processes and continuously monitor risk and compliance across the enterprise.

According to Gartner, “By 2023, 80 percent of organisations with formal risk management programs will use an IT risk management (ITRM) product to manage their cyber and IT risks, which is a significant increase from fewer than 45 percent today.”

IT departments have been tasked with planning for and mitigating risks that have become increasingly urgent due to the shifts spurred by COVID-19 – including cybersecurity threats, productivity and health safety concerns, and new regulations. Through its unified platform, continuous monitoring and automation, ServiceNow embeds important risk management and compliance activities into employees’ daily workflows. The aim is to give organisations a real-time view of risk and compliance, improving risk-based decision making and enabling them to increase business performance.

“Organisations are facing more cross-departmental risk resulting from everyday disruptions and new ways of working, which makes it more vital than ever to take an enterprise-wide approach to risk management. Teams need to work together – connecting IT and business data with risks, compliance policies, processes, and decisions,” said Vasant Balasubramanian (pictured), VP and GM of Risk at ServiceNow. “Just last month, Gartner also named ServiceNow a Leader in the August 2021 Magic Quadrant for IT Vendor Risk Management Tools. Together, we believe that this recognition, validates our leadership in helping businesses successfully navigate a challenging landscape, build resilience, and manage risk.”

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