The EY–ServiceNow Alliance: IRM+, a new approach toward integrated risk management

A modern, tech-driven approach to risk management

Today’s ever-evolving regulatory and risk landscape has many organizations playing a perpetually difficult game of catch-up. Regulatory compliance isn’t getting any cheaper, and ineffective processes are obscuring organizations’ complete risk picture. In addition, changing operating environments means more complex ecosystems for organizations and interconnected business processes, forcing enterprise services such as risk and compliance to navigate complex silos.

To address these challenges, organizations have increasingly turned to integrated risk management (IRM), which treats risk and compliance activities as an enterprise-wide responsibility. With IRM, risk is managed across the enterprise through integrated activities and an end-to-end process that can lead to better information to guide business management’s decision-making.

However, IRM principles alone are no longer enough. IRM must be supported with a new approach that incorporates technology used specifically to manage risk. This EY approach, known as IRM+, combines IRM disciplines with advanced technology architecture to help deliver better user experiences, activities driven by real-time insights and a clearer picture of an organization’s risk profile — at a lower cost.

Powered by the ServiceNow technology platform, the EY IRM+ offering is designed to position organizations for more successful IRM-related implementations, driving speed and efficiency through automation.

How EY teams can help

IRM+ provides a new way of thinking about the value that technology can help deliver for risk management professionals and the organization, empowering them to ask better questions, benefit from insights and increase efficiency through automation.

Any risk management focus area (e.g., issues management, regulatory change management) can use the IRM+ approach. By treating risk management broadly, organizations can respond more quickly and easily to today’s dynamic risk environment.

Through the IRM+ solution:

Our simplified approach can help organizations help achieve enterprise-wide visibility into risk and compliance through real-time insights, strengthen operational resilience and agility, and reduce the operational costs of risk management while creating sustained business value.

With the EY IRM+ solution, organizations can move beyond the constraints of traditional risk management and step into the next level of risk management with modern enterprise technology.