ServiceNow GRC (Governance, Risk, and Compliance) is a module that enables organizations to efficiently manage their governance, risk, and compliance functions through centralized risk management, policy management, and audit activities. It provides tools for risk assessment, mitigation, compliance tracking, and workflow automation, promoting collaboration and informed decision-making. The platform aims to streamline processes and enhance efficiency by integrating various aspects of risk management into a unified system.

1. ServiceNow GRC and Risk management
ServiceNow GRC (Governance, Risk, and Compliance) is a module within the broader
ServiceNow platform designed to help organizations manage their governance, risk, and
compliance functions efficiently. It focuses on streamlining processes, automating
workflows, and providing a centralized system to handle various aspects of risk
management.
The GRC module in ServiceNow typically includes features and functionalities such as:
• Risk Management: Enables organizations to identify, assess, prioritize, and
mitigate risks across various business processes and operations. It allows for the
creation of risk assessments, risk indicators, and risk response plans.
• Policy and Compliance Management: Helps in defining policies, managing
compliance requirements, and tracking adherence to regulatory standards and
internal policies. It allows for automated assessments, audits, and evidence
collection to ensure compliance.
• Audit Management: Facilitates the planning, execution, and tracking of audit
activities. It assists in managing audit programs, assigning tasks, documenting
findings, and tracking remediation efforts.
• Issue and Incident Management: Provides a centralized system to report,
investigate, and resolve incidents and issues related to governance, risk, or
compliance. It helps in documenting incidents, analyzing root causes, and
implementing corrective actions.
• Dashboard and Reporting: Offers customizable dashboards, reports, and analytics
to visualize risk, compliance, and governance data. This helps stakeholders make
informed decisions and track performance against objectives.
• Workflow Automation: Allows for the automation of workflows related to risk
assessments, compliance checks, approvals, and remediation actions, streamlining
processes and improving efficiency.
ServiceNow's GRC module aims to bring together different aspects of risk management,
compliance, and governance into a unified platform, promoting collaboration among
different teams within an organization.
Here's why ServiceNow GRC is considered a risk management module:
• Centralized Risk Management: ServiceNow GRC offers a centralized platform
where organizations can manage various aspects of risk, including identification,
assessment, mitigation, and monitoring. It provides a single source of truth for risk-
related information.
• Risk Identification and Assessment: The platform enables the identification and
assessment of risks across different business units or processes. It allows

2. organizations to catalog risks, assign ownership, and evaluate their potential impact
on operations.
• Risk Mitigation and Controls: ServiceNow GRC assists in defining and
implementing risk mitigation strategies and controls. It helps in establishing and
monitoring control frameworks to reduce the likelihood and impact of identified
risks.
• Automated Workflows: The module automates risk management workflows, such
as risk assessments, issue identification, and remediation tasks. This automation
helps in reducing manual efforts, enhancing accuracy, and ensuring consistent
processes.
• Reporting and Analytics: ServiceNow GRC provides reporting and analytics
capabilities to generate insights into risk exposure, compliance status, and overall
risk posture. Customizable dashboards and reports allow stakeholders to make
informed decisions.
• Integration with Compliance Requirements: It helps in aligning risk management
activities with compliance requirements, allowing organizations to track regulatory
changes, assess compliance gaps, and implement necessary measures.
• Collaboration and Communication: The platform facilitates collaboration among
various stakeholders involved in risk management. It enables better
communication, document sharing, and real-time updates, fostering a more cohesive
risk management approach.
• Audit Trail and Governance: It maintains an audit trail of risk-related activities,
ensuring transparency and accountability. This feature helps organizations in
demonstrating compliance and adherence to governance standards.