ServiceNow Expands in Governance, Risk and Compliance
ServiceNow (NYSE:NOW) , the enterprise cloud company, today announced that it is accelerating its investment in enterprise governance, risk and compliance (GRC) solutions. ServiceNow is acquiring Intr’eis, a team of experts focused on integrating GRC and service management across enterprise environments. ServiceNow has also integrated the Unified Compliance Framework (UCF) database of compliance documents into the latest release of its existing GRC solution.
Organizations worldwide are challenged to comply with the increasing volume and complexity of regulations, especially in industries such as healthcare, finance and the public sector. They must rely heavily on technology to help them manage the governance, risk and compliance requirements for regulations such as Sarbanes-Oxley, for business continuity or for enterprise risk management. However, these technologies often introduce more complexity with a host of disconnected, standalone applications that are not integrated into a company’s existing business processes.
ServiceNow is changing the way organizations manage risk by aligning the compliance process seamlessly with the way they already run their business. By integrating and automating compliance testing and auditing processes into existing service management processes, companies can improve visibility into their risk profile, better mitigate those risks and drive more effective risk-based decision making. That ultimately will drive higher levels of customer confidence and provide those companies with a competitive advantage.
Intr’eis is a team of GRC experts with a unique approach to implementing GRC-enabled service management solutions across the enterprise. The company has focused its business on building a single system of record with ServiceNow to power their customers’ internal controls framework in order to meet stringent risk management and compliance obligations. They have grown rapidly over the last several years by improving operational effectiveness, reducing costs and demonstrating compliance to regulators and auditors for their customers.
“Intr’eis has been a valued partner, working collaboratively with us to redefine the way technology can address today’s compliance challenges,” said Dave Stephens, general manager, ServiceNow Service Management business unit. “The team’s domain expertise and unparalleled customer experience within GRC will allow us to accelerate and expand our offering to help our customers stay ahead of the dynamic regulatory environment.”
“We’ve helped companies change their view of risk and compliance from a necessary evil to a strategic differentiator with a faster and less costly approach,” said Kris Markham, Intr’eis co-founder and CEO. “The ServiceNow platform allows companies to move away from outdated and siloed approaches to compliance, reducing unnecessary competition for resources, eliminating redundant processes and closing critical gaps in visibility.”
Intr’eis brings a portfolio of specialized GRC methods and tools. In addition, a team of subject matter experts will join the ServiceNow professional services organization and GRC product team to further expand the company’s overall compliance offering.
Given their own work with clients integrating UCF into ServiceNow deployments, Intr’eis was part of ServiceNow’s product design team and helped to integrate the UCF into the company’s latest release. UCF is an industry-vetted GRC compliance database that provides customers a single point of management over hundreds of complex IT compliance requirements from around the world. The latest release of ServiceNow also features new dashboards to provide real-time, interactive insight for the CIO into the company’s risk profile and a new assessment survey capability to automate and simplify evidence collection.
The financial terms of the acquisition are not being disclosed. The latest release of ServiceNow’s GRC solution is available in limited release to existing customers. It will be generally available shortly.
ServiceNow is changing the way people work. With a service-orientation toward the activities, tasks and processes that make up day-to-day work life, we help the modern enterprise operate faster and be more scalable than ever before. Customers use our service model to define, structure and automate the flow of work, removing dependencies on email and spreadsheets to transform the delivery and management of services for the enterprise. ServiceNow provides service management for every department in the enterprise including IT, human resources, facilities, field service and more. We deliver a ‘lights-out, light-speed’ experience through our enterprise cloud – built to manage everything as a service. To find out how, visit www.servicenow.com.
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