Following a successful UX redesign that enhanced the employee experience, this global retailer set their sights on driving more value from their ServiceNow Governance, Risk, and Compliance (GRC) investment.
150 critical vendors assessed for Third-Party Risk |
50 critical Business Apps with tracked key Controls |
20 risk statements tracked and aligned to CIS
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Client size: 29,000 | Client industry: Retail | Client location: Global |
Current compliance processes were manual, ad-hoc, and reactive. Thus, responses to requests and requirements for specific audits were generated and submitted as received. |
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Risk scoring was subjective based on various inputs and a manual assessment, and the risk register was manually maintained in Excel. |
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The hierarchy between vendors and respective engagements was not configured, which made it difficult to assess, manage, and monitor vendor risk exposure effectively. |
To deliver the desired risk and compliance functionality, Thirdera proposed the implementation of three applications within ServiceNow's IRM suite across two releases of functionality.
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Policy and Compliance Management |
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Risk Management Introduced Risk management functionality, including defined entities for applying risk against, an initial set of risk statements/risks with related risk frameworks, and a risk assessment process |
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Third-Party Risk Management Leveraged ServiceNow's Third-Party Risk Management capabilities, including engagement roll-up to vendors, internal tiering assessments, external risk assessments, issues/remediations, and tiebacks to compliance controls.
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Increase in regulatory compliance |
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Real-time transparency |
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Enhanced governance |
Thirdera, a Cognizant company is an Elite-level ServiceNow partner, enabling customers to maximise the value of the ServiceNow platform through workflow-enabled services and solutions. Founded in 2021 and acquired by Cognizant in 2024, Thirdera, a Cognizant company is one of the largest and most credentialed ServiceNow partners globally. We offer world-class guidance to help businesses accelerate growth and productivity. With expertise and capabilities spanning experience design, process optimisation, and AI-accelerated solutions, we are ushering in the next era of transformation, automation, and partner expectation. Visit www.thirdera.com for more information.
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