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| Product | Market Share (%) |
|---|---|
| ServiceNow Vendor Risk Management | 4.5% |
| Aravo | 1.5% |
| Other | 94.0% |
Aravo Solutions delivers market-leading, cloud-based solutions for managing third party governance, risk, compliance and performance. We help companies protect their business value and reputation by managing the risks associated with third parties and suppliers, and to build business value by ensuring that their third party relationships are optimized.
Since 2000, leading global brands across a diverse range of industries have counted on Aravo for their end-to-end enterprise supplier and third party risk management. Brands including GE, Unilever, Procter and Gamble, Google, SalesForce and many more. Aravo has also distilled this experience and best-in-class technology into rapid time-to-value applications that help companies manage a wide range of programs including: ABAC, responsible sourcing, data privacy, infosec, GDPR, and financial services regulatory compliance.
ServiceNow Vendor Risk Management helps organizations assess and monitor vendor risks efficiently. It streamlines third-party risk management to ensure compliance and protect data integrity.
Delivering comprehensive risk assessments and ongoing monitoring, ServiceNow Vendor Risk Management allows businesses to mitigate risks associated with third-party vendors. By automating the risk management process, it reduces manual effort and enhances visibility into vendor performance. Users appreciate its capability to integrate with existing workflows, providing a centralized platform for managing vendor risks. Some users suggest improvements in reporting features to further enhance data analysis and insights.
What are the most valuable features?In industries like finance and healthcare, where vendor risk is a critical concern, ServiceNow Vendor Risk Management is frequently implemented to ensure compliance and manage risks effectively. Its ability to automate and streamline processes supports these sectors in achieving their risk management goals while adapting to industry-specific requirements.
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