Starting ServiceNow GRC Process is getting ready for a game-changer for modern organizations. Businesses face more regulations and risks, transitioning to ServiceNow streamlines governance, automates compliance, and enhances risk visibility. The ServiceNow GRC solution offers an integrated platform simplifies processes, helping you stay compliant and aligned with your business goals.

Benefits of Adopting ServiceNow for GRC Process

• Unified Platform: Bring governance, risk, and compliance together for better collaboration.
• Automation: Save time by automating risk assessments and compliance tasks.
• Real-Time Insights: Gain instant visibility into risks across your organization.
• Regulatory Compliance: Easily adapt to evolving regulations and reduce risk exposure.
• Data-Driven Decisions: Make informed, strategic decisions backed by real-time data.

Starting ServiceNow GRC Process

Here is the approach to connecting your Governance Risk and Compliance Processes to ServiceNow

Process Step	Objective	How to Begin in ServiceNow
Define GRC Framework & Policies	Set up the foundation for governance, risk, and compliance.	Start with the Policy and Compliance Management application to define policies, roles, and responsibilities.
Risk Identification & Assessment	Identify risks and evaluate their impact.	Use the Risk Management app to create assessments and manage your risk register.
Risk Mitigation & Control Design	Plan controls to reduce risks.	Leverage Risk Management to design mitigation plans and define control objectives.
Compliance Management	Ensure compliance with regulations and policies.	Use Compliance Management to track obligations and ensure adherence to compliance requirements.
Risk Monitoring & Reporting	Keep track of risks and control effectiveness.	Monitor risks using KRIs/KPIs with the Risk Management dashboard.
Incident Management & Response	Respond to risk events and incidents.	Use Incident Management to handle and respond to incidents or breaches.
Audit & Assurance	Verify GRC processes through audits.	Set up and track audits using the Audit Management application.
Continuous Improvement & Optimization	Improve GRC processes over time.	Regularly update policies and controls based on findings and incidents in the GRC module.

Best Practice Frameworks for Starting ServiceNow GRC Process

GRC processes are governed by a range of best practice bodies, including COSO, ISO, NIST, and ISACA, among others. These bodies provide frameworks and standards that ensure organizations manage risk, maintain compliance, and establish strong governance structures. Adhering to these guidelines helps organizations not only meet regulatory obligations but also enhance overall business resilience and performance.

Organization Focus Framework/Standard

• COSO Enterprise Risk Management (ERM), internal controls, and governance. ERM Framework, Internal Control Integrated Framework.
• ISO Risk management, compliance, and information security. ISO 31000, ISO 27001, ISO 19600.
• ITIL IT service management, governance, and risk. ITIL Framework for IT service operations.
• NIST Cybersecurity, risk management, and compliance. NIST Cybersecurity Framework (CSF), NIST SP 800-53.
• ISACA IT governance, risk management, and auditing. COBIT (Control Objectives for Information and Related Technologies).
• Basel Committee on Banking Supervision (BCBS) Risk management and compliance in the banking sector. Basel Accords (Basel III).
• OCEG Governance, risk management, and compliance (GRC). GRC Capability Model (Red Book).
• The Institute of Internal Auditors (IIA) Internal audit, risk management, and governance. International Standards for the Professional Practice of Internal Auditing.
• The Financial Stability Board (FSB) Global financial system stability, governance, and risk management in financial institutions. Recommendations for financial system stability.
• SASB Sustainability and environmental, social, and governance (ESG) risk management. Sustainability standards for ESG risk reporting.

OTHER RESOURCES: Starting ServiceNow GRC Process

• 5-Step Policy-Compliance Risk Management – Dawn Christine Simmons (dawncsimmons.com)
• 21 Best GRC Tools And Platforms Reviewed For 2024 (thedigitalprojectmanager.com)
• Audit Management
• Business Continuity Management
• Common GRC Features
• Compliance Case Management
• Continuous Authorization & Monitoring
• Getting Ahead of Global Regulations
• GRC reference (servicenow.com)
• GRC Industry Reference Matrix – Dawn Christine Simmons (dawncsimmons.com)
• GRC and the ServiceNow Store
• GRC Capability Model™ 3.5 (OCEG Red Book) FREE VERSION – OCEG
• Operational Resilience
• Policy and Compliance Management
• Privacy Management
• Regulatory Change Management
• Risk Management
• ServiceNow IRM SOX FAQs
• Slides for Getting Started
• SOX Control-Management and Attestation
• Third-party Risk Management
• What is GRC Framework? | An Ultimate Guide – MetricStream