Modernize Third‑Party Risk Management with ServiceNow
In today’s high-risk landscape, third-party failures can instantly disrupt your business. Approximately 60% of data breaches now originate from a trusted vendor or supplier, yet many enterprises still struggle with siloed, manual vendor risk processes. Templar Shield – an Elite ServiceNow Partner – empowers organizations to modernize third-party risk management (TPRM) on the ServiceNow platform, giving executives unprecedented visibility and control over vendor and supply chain risks.
The Third‑Party Risk Challenge
Lack of visibility and fragmented processes are common in legacy third-party risk programs. Vendor onboarding often spans disconnected systems, resulting in poor visibility into third-party risks and compliance status, along with time-consuming, manual risk assessments and reactive monitoring. Organizations find it challenging to scale vendor risk coverage due to limited staff, manual processes, and budget constraints. Key pain points include
Limited risk visibility
Critical vendor data scattered across spreadsheets and emails, making it hard for executives to see enterprise-wide third-party risk exposure.
Inefficient onboarding & due diligence
Onboarding new vendors is slow and inconsistent. Manual questionnaires and fragmented reviews delay procurement and leave gaps in risk evaluation.
Static, reactive assessments
Many programs rely on annual checklists or crisis-driven reviews. Without continuous monitoring, issues go undetected until they become incidents.
Compliance and reputational blind spots
Companies lack automated checks for sanctions lists, regulatory compliance, or negative news – risking fines and brand damage if a vendor problem surfaces unexpectedly.
End-to-End Vendor Risk Management (Powered by ServiceNow)
Templar Shield implements ServiceNow Vendor Risk Management to streamline the entire third-party lifecycle – from initial onboarding to offboarding – on a single integrated platform. Our solution automates formerly labor-intensive steps, ensuring every vendor is assessed, monitored, and managed through standardized workflows:
Streamlined Vendor Onboarding
ServiceNow embeds risk evaluation into procurement. As you onboard a new vendor, an inherent risk questionnaire (covering factors like data sensitivity, business criticality, etc.) automatically computes a risk rating. High-risk engagements are flagged for deeper due diligence, while low-risk vendors enjoy accelerated approval with minimal friction.
Automated Assessments & Remediation
Tailored assessment questionnaires are issued via a dedicated Third-Party Portal, where vendors securely submit responses and documentation. The platform auto-scores responses to identify control gaps or compliance issues. Workflow automation assigns tasks for any findings remediation, ensuring accountability until issues are resolved. This replaces email chains and spreadsheets with real-time tracking and audit trails.
Centralized Risk Profiles
Tiered Risk Assessment Lifecycle
Not all vendors carry equal risk. Templar Shield helps establish a vendor classification and tiering methodology to focus resources where they matter most. Using inherent risk scores and other criteria, vendors are segmented (e.g. Tier 1 critical, Tier 2 important, Tier 3 low-risk). This tiering drives a continuous risk assessment lifecycle that is both risk-based and efficient
Risk-Based Tiering
ServiceNow conducts an Inherent Risk Assessment at onboarding to assign vendors a dynamic tier based on their risk profile. A high-risk provider handling sensitive data may be Tier 1, while low-impact vendors fall into lower tiers. As vendor roles evolve, tiering adjusts automatically to reflect new exposures.
Tailored Due Diligence by Tier
Vendor tiering determines the depth and frequency of risk assessments. Tier 1 vendors face rigorous annual evaluations including detailed questionnaires, site visits, and leadership reviews while lower-tier partners follow lighter protocols or multi-year cycles. This approach balances compliance with OCC or DORA frameworks while minimizing business disruption.
Continuous Reassessment & Triggered Reviews
ServiceNow automates reassessment tasks based on vendor tier, ensuring timely reviews Tier 1 every 12 months, Tier 2 every 18–24 months. If continuous monitoring detects a critical issue like a security breach or financial instability, the system triggers an out-of-cycle evaluation. This closed-loop approach keeps vendor risk ratings current and visible through executive dashboards, ensuring high-risk profiles are never missed.
A centralized ServiceNow TPRM dashboard provides real-time visibility into third-party risks. Executives can instantly identify high-risk vendors, monitor assessment status, and track remediation activities across the vendor portfolio.
Strategic Benefits – Resilience, Speed, and Compliance
By partnering with Templar Shield to implement ServiceNow for third-party risk management, organizations realize significant strategic benefits:
Improved Third-Party
Resilience
A mature TPRM program reduces the likelihood of vendor-related business disruptions. With continuous monitoring and thorough vetting, you can detect issues early and ensure critical suppliers have robust controls or viable recovery plans. This strengthens operational resilience and protects your revenue and customers even if a vendor faces trouble.
Reduced Regulatory and Liability Risk
Faster Vendor Onboarding & Time-to-Value
By integrating risk assessments into onboarding workflows, businesses accelerate the pace of bringing on new vendors and innovations. Procurement and risk teams collaborate in one system, dramatically cutting redundant steps. Faster onboarding means your company can seize market opportunities and innovations without getting bogged down in protracted risk reviews – all while still “trusting but verifying” vendor security and compliance upfront.
Efficiency and Cost Savings
Automation replaces tedious manual tasks. Risk managers reclaim time to focus on high-value analysis rather than chasing questionnaires. Our clients have seen up to 60% improvements in efficiency by automating TPRM processes. This efficiency gain is like adding headcount without the cost – enabling your team to cover more vendors or deeper assessments with the same resources. Ultimately, a proactive stance also reduces costly incidents and emergency remediation down the line.
Better Issue Remediation and Vendor Performance
End-to-End Supply Chain Transparency
Through SBOM/HBOM tracking and fourth-party mapping, executives gain a 360° view of the supply chain supporting their business. This transparency builds confidence that no hidden risks are lurking in the components, software, or sub-suppliers that your operations rely on. It also fosters trust with your customers and stakeholders, as you can assure them that you rigorously vet and monitor the integrity of your supply chain.
Real ‑ World Results with Templar Shield
Templar Shield’s expertise in third-party risk and ServiceNow implementation has delivered measurable outcomes for organizations across industries
Financial Services
We helped a regional bank overhaul a previously manual vendor risk process (spreadsheet-based despite having a legacy tool) into an automated ServiceNow-enabled program. The result was a ~60% increase in efficiency, allowing the VRM team to handle more vendor assessments in less time. Process automation also drove higher business unit participation and improved the quality of risk data for decision-makers.
Healthcare & Life Sciences
A healthcare client leveraged our solution to ensure all vendors with access to patient data are continuously monitored for HIPAA compliance. They moved from reactive, annual compliance checks to ongoing assurance. This proactive posture not only satisfied internal audit and regulators but also prevented multiple potential data leak incidents by addressing third-party vulnerabilities early.
Energy &Critical Infrastructure
For a large utility provider, Templar Shield implemented a ServiceNow TPRM program with integrated OT (Operational Technology) asset risk tracking. This provided unprecedented insight into the hardware/software supply chain of critical grid control systems. The organization can now rapidly pinpoint which vendors or components might be affected by a newly disclosed vulnerability or a geopolitical supply chain disruption – significantly reducing response time to emerging threats.
These examples underscore the business impact of a modernized third-party risk program: stronger security and compliance, less surprise disruptions, and greater agility to work with the right vendors safely. Executives gain peace of mind that third-party risk is being managed proactively as a competitive advantage – not just a compliance checkbox.
Supply Chain Risk Visibility (SBOM & HBOM)
Modern third-party risk extends beyond direct vendors to the entire supply chain of products and sub-components. Templar Shield helps organizations gain deep supply chain transparency through Software Bill of Materials (SBOM) and Hardware Bill of Materials (HBOM) management. Using ServiceNow’s flexible data model, we capture and monitor the components that make up your vendors’ products and services:
Software Component Tracking (SBOM)
For software and technology vendors, our solution captures a Software Bill of Materials (SBOM), listing all open-source and third-party components used. When new vulnerabilities surface like Log4j you can instantly pinpoint affected vendors and systems. This proactive approach strengthens supply chain security and aligns with evolving SBOM mandates for federal contractors.
Hardware Component Transparency (HBOM)
Templar Shield integrates Hardware BOM (HBOM) data for key suppliers, helping trace each component’s origin and detect risks like untrusted parts or banned manufacturers before they disrupt operations. With ServiceNow, HBOM records are linked to vendor profiles for full traceability, aligning with CISA’s push for stronger supply chain oversight.
4th-Party and Nth-Party Risk
By mapping vendors’ key sub-suppliers (the “vendor’s vendors”), you gain visibility into fourth-party risks. If a critical fourth-party faces a disruption or legal issue, you’ll know which of your vendors rely on them and can act accordingly. This level of supply chain insight ensures there are no blind spots – strengthening your overall third-party resilience.
Strategic Benefits – Resilience, Speed, and Compliance
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Improved Third-Party Resilience
A mature TPRM program reduces the likelihood of vendor-related business disruptions. With continuous monitoring and thorough vetting, you can detect issues early and ensure critical suppliers have robust controls or viable recovery plans. This strengthens operational resilience and protects your revenue and customers even if a vendor faces trouble.
Reduced Regulatory and Liability Risk
Faster Vendor Onboarding & Time-to-Value
Embedding risk assessments into onboarding workflows streamlines vendor evaluation and accelerates innovation adoption. With procurement and risk teams aligned in a unified system, redundancies are eliminated, enabling swift yet secure decision-making. This ensures market agility while maintaining rigorous oversight of vendor security and compliance.
Efficiency and Cost Savings
Automation eliminates repetitive manual work, allowing risk managers to redirect focus toward strategic analysis. By streamlining Third-Party Risk Management (TPRM), clients have achieved up to 60% efficiency gains—effectively expanding capacity without increasing headcount. This proactive approach also minimizes the risk of costly disruptions and emergency responses.
Better Issue Remediation and Vendor Performance
End-to-End Supply Chain Transparency
Through SBOM/HBOM tracking and fourth-party mapping, executives gain a 360° view of the supply chain supporting their business. This transparency builds confidence that no hidden risks are lurking in the components, software, or sub-suppliers that your operations rely on. It also fosters trust with your customers and stakeholders, as you can assure them that you rigorously vet and monitor the integrity of your supply chain.
Real‑World Results with Templar Shield
Templar Shield’s expertise in third-party risk and ServiceNow implementation has delivered measurable outcomes for organizations across industries
Financial Services
We helped a regional bank overhaul a previously manual vendor risk process (spreadsheet-based despite having a legacy tool) into an automated ServiceNow-enabled program. The result was a ~60% increase in efficiency, allowing the VRM team to handle more vendor assessments in less time. Process automation also drove higher business unit participation and improved the quality of risk data for decision-makers.
Healthcare & Life Sciences
A healthcare client leveraged our solution to ensure all vendors with access to patient data are continuously monitored for HIPAA compliance. They moved from reactive, annual compliance checks to ongoing assurance. This proactive posture not only satisfied internal audit and regulators but also prevented multiple potential data leak incidents by addressing third-party vulnerabilities early.
Energy &Critical Infrastructure
For a large utility provider, Templar Shield implemented a ServiceNow TPRM program with integrated OT (Operational Technology) asset risk tracking. This provided unprecedented insight into the hardware/software supply chain of critical grid control systems. The organization can now rapidly pinpoint which vendors or components might be affected by a newly disclosed vulnerability or a geopolitical supply chain disruption – significantly reducing response time to emerging threats.
These examples underscore the business impact of a modernized third-party risk program: stronger security and compliance, less surprise disruptions, and greater agility to work with the right vendors safely. Executives gain peace of mind that third-party risk is being managed proactively as a competitive advantage – not just a compliance checkbox.
Continuous Monitoring, Reputational Risk & Compliance Intelligence
A modern TPRM program must be continuous and proactive, not a one-time checklist. Templar Shield integrates continuous risk monitoring and external intelligence into the ServiceNow TPRM solution, so you stay ahead of emerging threats:
Reputational Risk Monitoring
Our approach pulls in real-time intelligence on your third parties – from data breach reports and cybersecurity rating services to financial health indicators. For example, integrations with security rating services (such as BitSight or SecurityScorecard) can feed updated cyber risk scores for each vendor into ServiceNow on an ongoing basis. If a vendor’s security rating drops or news of a breach surfaces, you receive an alert and can trigger an immediate review. This proactive monitoring protects you from surprises that could damage your operations or reputation.
Sanctions and Watchlist Screening
ServiceNow’s workflows can automatically check vendors against sanctions lists and compliance watchlists (OFAC, EU sanctions, etc.) as part of onboarding and periodically thereafter. If a supplier is added to a government sanctions list or appears in adverse media, you’ll know right away. Continuous screening ensures you remain compliant with regulations and avoid inadvertently transacting with high-risk or prohibited parties.
Regulatory Compliance Alignment
The solution is configurable to align with industry regulations (e.g. banking vendor risk guidelines, healthcare HIPAA/HITRUST, supply chain security standards). Templates for standard questionnaires (like SIG, HECVAT for higher ed, or custom compliance checks) are built in, simplifying compliance reviews. Auditors and regulators gain confidence because you can demonstrate a robust, repeatable process for vetting and monitoring third parties, with evidence stored in the system.
Strategic Benefits – Resilience, Speed, and Compliance
By partnering with Templar Shield to implement ServiceNow for third-party risk management, organizations realize significant strategic benefits:
Improved Third-Party Resilience
A mature TPRM program reduces the likelihood of vendor-related business disruptions. With continuous monitoring and thorough vetting, you can detect issues early and ensure critical suppliers have robust controls or viable recovery plans. This strengthens operational resilience and protects your revenue and customers even if a vendor faces trouble.
Reduced Regulatory and Liability Risk
An automated, auditable vendor risk process helps you meet strict regulatory requirements across industries. You’ll avoid fines, legal penalties, and reputational damage by proving to regulators and partners that you tightly govern third-party relationships. In case of incidents, documented due diligence and ongoing oversight also mitigate liability by showing you took prudent precautions.
Faster Vendor Onboarding & Time-to-Value
Integrating risk assessments into onboarding workflows speeds up vendor engagement and innovation adoption. With procurement and risk teams aligned in a single system, redundant steps are eliminated—enabling faster decisions without compromising security or compliance. This ensures agility while maintaining a robust “trust but verify” approach.
Efficiency and Cost Savings
Better Issue Remediation and Vendor Performance
When a vendor falls short (e.g. missing a patch, failing a control, or experiencing an outage), ServiceNow ensures the issue is logged and tracked to resolution with accountability assigned. This structured approach drives faster remediation of vendor risks and continuous improvement. Over time, you can even compare vendors on risk and performance metrics, informing smarter negotiations and partnerships.
End-to-End Supply Chain Transparency
Through SBOM/HBOM tracking and fourth-party mapping, executives gain a 360° view of the supply chain supporting their business. This transparency builds confidence that no hidden risks are lurking in the components, software, or sub-suppliers that your operations rely on. It also fosters trust with your customers and stakeholders, as you can assure them that you rigorously vet and monitor the integrity of your supply chain.
Real‑World Results with Templar Shield
Templar Shield’s expertise in third-party risk and ServiceNow implementation has delivered measurable outcomes for organizations across industries
Financial Services
We helped a regional bank overhaul a previously manual vendor risk process (spreadsheet-based despite having a legacy tool) into an automated ServiceNow-enabled program. The result was a ~60% increase in efficiency, allowing the VRM team to handle more vendor assessments in less time. Process automation also drove higher business unit participation and improved the quality of risk data for decision-makers.
Healthcare & Life Sciences
A healthcare client leveraged our solution to ensure all vendors with access to patient data are continuously monitored for HIPAA compliance. They moved from reactive, annual compliance checks to ongoing assurance. This proactive posture not only satisfied internal audit and regulators but also prevented multiple potential data leak incidents by addressing third-party vulnerabilities early.
Energy &Critical Infrastructure
For a large utility provider, Templar Shield implemented a ServiceNow TPRM program with integrated OT (Operational Technology) asset risk tracking. This provided unprecedented insight into the hardware/software supply chain of critical grid control systems. The organization can now rapidly pinpoint which vendors or components might be affected by a newly disclosed vulnerability or a geopolitical supply chain disruption – significantly reducing response time to emerging threats.
These examples underscore the business impact of a modernized third-party risk program: stronger security and compliance, less surprise disruptions, and greater agility to work with the right vendors safely. Executives gain peace of mind that third-party risk is being managed proactively as a competitive advantage – not just a compliance checkbox.
Agentic AI-Powered Third‑Party Risk Management on ServiceNow
AI-Driven Vendor Risk Assurance
In an era where third-party cyber risks are escalating, organizations need faster and smarter ways to evaluate vendor compliance. Templar Shield’s agentic AI-powered solution for Third-Party Risk Management leverages a bidirectional ServiceNow integration with Black Kite to transform how vendor due diligence is done. Available on the ServiceNow Store, this integrated solution combines ServiceNow’s workflow automation with Black Kite’s AI-driven content parsing and risk analytics to automate third-party document reviews and deliver real-time risk insights. The result is a dramatic improvement in speed, accuracy, and visibility for CISOs, risk managers, compliance leaders, and procurement executives.
Key Benefits: Speed, Accuracy, and Insight at Scale
The Templar Shield–Black Kite integration streamlines vendor risk analysis by automating document review directly within ServiceNow. Using machine learning and NLP, Black Kite’s parser scans files like SOC 2 reports and instantly maps them to 14+ compliance frameworks giving a rapid, unified view of each vendor’s control posture. This eliminates manual effort and exposes compliance gaps in seconds.
The Templar Shield–Black Kite integration simplifies vendor risk reviews by automating document analysis within ServiceNow. Black Kite’s AI-powered parser scans submitted files such as SOC 2 reports and maps them to over 14 compliance frameworks, delivering instant insights into vendor security posture and control gaps. This removes delays and human error from traditionally manual processes.
Combined Power of ServiceNow Workflows & Black Kite AI
The integration of ServiceNow and Black Kite's AI engine streamlines third-party risk management (TPRM) processes. ServiceNow orchestrates the workflow, while Black Kite's AI engine parses complex documents and correlates content with regulatory requirements. The combined solution acts as an "AI risk analyst" agent, proactively reviewing vendor evidence and translating it into standardized risk metrics and actions. This accelerates the assessment process, ensures consistency and objectivity, and enables teams to define rule-based responses in ServiceNow, turning static reports into dynamic, actionable intelligence.
The integration is bidirectional, sending and receiving data to ensure risk data is always current. ServiceNow transmits data to Black Kite for AI analysis, then retrieves findings and scores, updating vendor records. This automation enables continuous monitoring, freeing teams to focus on decision-making and oversight.
Key Benefits: Speed, Accuracy, and Insight at Scale
Implementing Templar Shield’s AI-powered third-party risk solution delivers a range of benefits, particularly valued by security and compliance executives
Dramatic Speed Improvements
Enhanced Accuracy & Consistency
Comprehensive Risk Visibility
Workflow Automation & Efficiency
Audit-Ready Documentation
Real-World Impact for Risk and Compliance Leaders
The integration of ServiceNow and Black Kite enables CISOs and third-party risk managers to manage risk more proactively and efficiently. The platform automates the collection and analysis of vendor information, freeing up time and resources. Compliance officers gain assurance that vendor controls meet industry standards, while procurement teams can onboard new suppliers faster and with confidence, knowing that AI has vetted their security documentation. This streamlined process reduces risk and accelerates vendor onboarding, giving organizations a competitive edge in managing third-party risk.
Templar Shield's integration with Black Kite introduces an autonomous AI agent that automates third-party risk management. This AI agent flags deficiencies, opens tasks, and monitors for resolution, freeing leaders to scale their programs without increasing staff. This is a step toward self-driving workflows in risk and compliance, enabled by intelligent automation.
Conclusion: Accelerate Third-Party Risk Management with AI
Ready to transform your vendor risk program? Templar Shield’s Black Kite integration offers a smarter way to manage vendor risk through ServiceNow. Discover powerful workflows and AI-driven insights that streamline compliance and security assessments saving time while enhancing oversight. Explore the solution or book a demo to see it in action.
