How Risks Are Tracked from Start to Finish

Rede Consulting
Jul 1
3 min read

-and How REDE Consulting Makes It Work with ServiceNow

In today’s volatile business environment, risks are not only more complex—they evolve faster than ever. Whether it’s cyber threats, regulatory changes, operational disruptions, or third-party exposures, the ability to track risks end-to-end is no longer a luxury—it’s a necessity.

Yet many enterprises still struggle with fragmented tools, disconnected departments, and manual processes that fail to provide a clear risk picture. That’s where ServiceNow’s Integrated Risk Management (IRM) platform—implemented by experts like REDE Consulting—brings real, measurable value.

Let’s explore how risks are tracked from identification to resolution, and how REDE enables that transformation across industries.

Step-by-Step: How Risk Is Tracked from Start to Finish

Tracking risk effectively requires an organized, transparent, and technology-enabled lifecycle. Here’s how the process unfolds within a mature ServiceNow IRM environment:

1. Risk Identification

Risks can emerge from internal assessments, audits, regulatory updates, or incidents. With ServiceNow, these inputs are captured through structured forms, workflows, and integrations, ensuring nothing slips through the cracks.

2. Risk Assessment

Once identified, risks are assessed based on impact, likelihood, and business context. ServiceNow enables automated scoring, risk heatmaps, and multi-factor analysis, allowing organizations to prioritize what matters most.

3. Risk Response and Treatment

Based on assessment results, organizations determine the appropriate response—accept, mitigate, transfer, or avoid. ServiceNow links risks to controls, policies, and treatment plans, providing an auditable trail of action.

4. Control Monitoring

Mitigation plans only work if controls are effective. ServiceNow automates control testing, attestations, and remediation tracking, enabling continuous assurance and early warning of control failures.

5. Risk Monitoring and Reporting

Ongoing monitoring through dashboards, KPIs, and real-time alerts gives risk managers and leadership instant insight into risk posture. With ServiceNow, all data lives in a single platform—ensuring one version of the truth.

6. Risk Closure or Escalation

Resolved risks are documented and closed; if unresolved or elevated, they’re escalated through structured workflows for higher-level review. ServiceNow ensures these escalations are timely, traceable, and transparent.

How REDE Consulting Powers Risk Success with ServiceNow

At REDE Consulting, we specialize in helping enterprises design, deploy, and scale their risk management programs using ServiceNow IRM/GRC. Our clients—spanning sectors like insurance, finance, telecom, healthcare, and manufacturing—benefit from our deep domain expertise and global delivery capabilities.

Here’s how we help organizations track risk effectively:

✅ Strategic Risk Framework Design

We guide clients in defining risk taxonomies, scoring models, workflows, and compliance mappings aligned to industry standards (e.g., ISO 31000, COSO, NIST, GDPR, etc.).

✅ End-to-End ServiceNow IRM Implementation

From risk registers and policy management to audit management and vendor risk, we configure and integrate ServiceNow IRM modules tailored to each enterprise’s operating model.

✅ Automation & AI Enablement

We embed automation for control testing and risk scoring, and leverage ServiceNow’s GenAI capabilities to summarize risk incidents, suggest treatments, and support decision-making.

✅ Stakeholder Enablement

We create role-based portals, workflows, and dashboards so everyone—from risk analysts to business unit heads—can engage with the risk process intuitively and responsibly.

✅ Continuous Optimization

Risk is dynamic, and so is our support. We provide ongoing governance, enhancements, and managed services to help enterprises stay ahead of emerging risks and regulatory expectations.

Results That Speak for Themselves

A leading global insurer used REDE’s solution to automate risk assessments across 12 business units, cutting assessment time by 60%.
A telecom major deployed automated risk scoring and control monitoring, improving audit readiness and reducing manual reporting by 70%.
A healthcare provider leveraged REDE’s ServiceNow IRM configuration to align HIPAA compliance with operational risk tracking in one unified platform.

Conclusion: Make Risk Management a Strategic Advantage

When risks are tracked from start to finish using the right processes and the right technology, organizations gain more than just compliance—they gain clarity, confidence, and control.

With ServiceNow IRM and REDE Consulting as your trusted partner, you can build a risk program that is not only robust, but also responsive, scalable, and aligned with your business goals.

Ready to take control of risk from start to finish?

Let REDE show you how.