ServiceNow Named A Leader in 2020 Gartner Magic Quadrant For IT Risk Management

servicenow consulting services

ServiceNow Named A leader In Quadrant For IT Risk Management

It’s such an honour to be receiving the award of Leader in the 2020 Gartner Magic Quadrant for Vendor IT Risk Management Tools (ITVRM). 

What exactly is Vendor Risk Management?

Defined by Gartner Information Technology – Vendor Risk Management (VRM) is a program to track, evaluate, measure any type of third-party risks that may bring an impact on your business and accordingly develop controls to mitigate the impact on your business.

Extending its support in multiple ways that include – assess, monitor, manage their risks from third-party suppliers that provide IT products and services or have access to enterprise information, VRM technology does it all.

ServiceNow professional services offer ITVRM seamlessly as it improves to manage third-party risks in the following ways.

– Bring improvements in employee and vendor efficiency through automation and increased productivity.

– Make continuous improvements through continuous monitoring at scale and advanced technologies. 

– Connect third-party risk to performance and enterprise risk with integration across the enterprise

ServiceNow consulting firms are the best source of cloud vendors currently offering comprehensive third-party risk management. This immeasurably valuable tool assists in third-party evaluation.

Gartner recognizes ServiceNow professional services particularly in the phase of IVRM – that it provides full capabilities to automate and support the identification, assessment, analysis and monitoring of the information and operational risks emerging from an organization’s use of third parties.

These third parties may include any external source that can access, provide or manage sensitive data and those sources may connect to customer’s systems or networks, or support critical business processes.  The market for IT VRM solutions indicates an upsurge in demand for higher regulations.

ServiceNow SME works with data management capabilities by the cloud that quite efficiently manages a wide range of cloud solutions – Microsoft Azure, Amazon Web Services, Cloudera, Databricks, DataRobot, MongoDB, Salesforce, SAP, ServiceNow, Snowflake, and Tableau. 

Servicenow consulting services offer flexible workflows that transform manual and siloed processes into a user-friendly and unified program built on a single platform and common data model.

Especially during this time lf Covid-19 pandemic, vendor risk management is very critical and how we manage our work with third parties as it demands new procedures, builds pressure on critical suppliers and brings adoption of new ones. These interactions necessitate calling for vendor risk management.

ServiceNow professional services continue to indicate an upsurge for IT risk management solutions as businesses create new cybersecurity initiatives and demand for the need of digital compliance obligations and it is also stated that by 2025, 50 per cent of midmarket and large firms will highly rely on risk management solutions to resolve digital risks for their business up from 10 per cent in 2018. 

ServiceNow consulting services bring in IT risk management software and services are expected to grow to better support risk management capabilities around the cloud. Additionally,  IoT, the Internet of Things, and the social media environments of 80 per cent of digital businesses. 

ServiceNow consulting services are on the rise to scale up customer service and IT operations and as ServiceNow enables digital workflows to drive business growth, enhance employee productivity and increase resilience making everyday work better. Split into five categories Servicenow services are widely applicable and prove beneficial in – HR, IT, security, customer service, Business apps and apparently there are more than 17million users across the world. Nearly 13,829 companies use ServiceNow and most of them are in the U.S. computer software industry.

Platform-as-a-Service (PAAS) all ServiceNow applications are in a single platform. The core set of applications such as Incident, Change, Problem and Knowledgement work as a subset of ServiceNow services. 

With the plugins, you can install additional applications to expand your ServiceNow with over 50+ applications via plugins and that changes with each release. All of these applications are integrated and part of the same platform when activated.  With ServiceNow software development it is on Cloud which is much easier to maintain than on-premises applications.

Conclusion

From help desk functionality to IT service management, ServiceNow is an excellent PAAS provider taking care of businesses management of incidents and problems, it’s recent cloud software paired with Artificial Intelligence technology is aimed at fixing practical problems.