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Workiva vs ServiceNow GRC

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Our analysts compared Workiva vs ServiceNow GRC based on data from our 400+ point analysis of Risk Management Software, user reviews and our own crowdsourced data from our free software selection platform.

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Workiva Software Tool
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ServiceNow GRC Software Tool
SelectHub Award Winner
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Product Basics

Analyst Rating

we're gathering data
Detailed Analysis

User Sentiment

Excellent User Sentiment (587 Reviews)

Analyst Rating

92 Detailed Analysis

User Sentiment

we're gathering data
( Reviews)
Workiva is a cloud-based reporting platform that globally connects an organization’s workforce with its data sets and data sources. It combines all user data under a single digital roof to remove any errors and ensure complete transparency. Provides automatic and secure scheduling of repetitive tasks and recycles redundant data and reports into functional assets. It allows users to visualize data relating to ERP, consolidation, compliance, security, budgeting and more by connecting everything under one secure reporting module.

A live-updating dashboard with a code-free interface allows for easy analysis and data reporting. It auto-updates linked cross-organizational data for a seamless reporting experience.
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ServiceNow GRC integrates governance, risk and compliance management into a single end-to-end vulnerability resilience solution. It provides real-time insights into an organization’s compliance posture and risk exposure. The risk management module protects against potential disruptions to maintain business continuity. Monitor corporate policies, vendors and third-party assets for any sign of operational risks.

The privacy management functionality prioritizes the security of the company’s people, processes and facilities. The different modules interact with each other to work out the best possible remediation strategies. It helps build a culture of resilience and stability for everyone involved.
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Product Insights

  • Centralized Data Storage: Store all internal control tests and documents in one centrally accessible database.  
  • Automated Reports: Save a ton of time and resources with built-in automation for regulatory and financial reporting processes. 
  • Intuitive Accounting Interface: Employees can adjust faster to the accounting module due to the platform’s visual and functional similarity with Word and Excel. 
  • Fast Data Access: Quickly access all necessary data and reports from anywhere within the U.S. Instantaneously update all changes throughout the server and eliminate inconsistencies in datasets. 
  • Easy Data Sync: Automatically update data across multiple documents in real time by linking to each other. Save time spent on manual edits and deduplication. 
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  • Fortified Business Operations: Keep the business secure at all times with continuous access to a unified data environment. Collaborate on risk reports and make data-driven decisions. 
  • Real-Time Tracking: Discover threats at the onset by continuously monitoring IT services, high-risk areas and critical business processes. 
  • Automation-Driven Efficiency: Increase productivity with automated workflows. Reduce errors and omissions and identify the best course of action with AI-assisted analytics. 
  • Streamlined Communication: Clearly communicate resilience initiatives, controls and policies to the team with dynamic dashboards. 
  • Faster Troubleshooting: Save the support team’s time and money by solving common tasks with an intelligent chatbot. 
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  • Enterprise Risk: Get a 360-degree picture of risk with dedicated assessment and remediation capabilities. Generate reports and perform internal audits to make informed business decisions. 
    • Risk Assessment: Track and assess risks in real time. Prepare risk assessment spreadsheets and act on critical risk information first. 
    • Aggregation and Analysis: Correlate and analyze multiple data sources to find the complete context behind risk information. Categorize risks by datasets like historic risk ratings, risk owners, pillars and more. 
    • Risk Prioritization: Prioritize critical risk throughout the environment with key risk indicator (KRI) information. 
    • Risk Reporting: Create up-to-date risk reports with data visualization options. Combine information from KRIs and risk owners with heat maps, graphs and scatter and bubble charts to prepare reports on enterprise risk. 
  • Internal Audit Management: Streamline the auditing process with custom templates and automated evidence gathering, certification, reporting and planning tools. Access relevant data, manage audits and follow up on tasks. 
    • Audit Analytics: Automatically populate audit reports in a no-code environment to highlight any exceptions. 
    • Templates: Process audits faster with over 3,000 purpose-built AuditNet templates. 
    • Audit Reporting: Increase stakeholder and audit committee engagement with personalized audit reports. Tailor reports accordingly by elaborating on specific details. 
    • Follow Up: Automatically drill down into complicated reports to elaborate on observations and recommended courses of action. 
  • Policy and Procedure Management: Manage policies and procedures across the entire organization. Maintain an up-to-date inventory of auditable policies and procedures. 
    • Policy Indexes: Correlate policies with regulations, controls, processes and risks to create an interconnected and centralized master index. Standardize policies with templates and automatically update changes. 
    • Review Permissions: Review and edit documents directly from the platform. Streamline the review process with automated assessments and audits. 
    • Document History: Track all edits to policy documents with full version history. Send documents for bulk approval and leave comments and reviews within the content. 
    • Attestation Tracking: Track policy status, link current document versions and schedule deadlines. Sign and approve policies from any device and export records for auditing purposes. 
  • Internal Controls: Improve the visibility and security of risk information with internal controls. Allow risk and control owners to make updates with full transparency. 
    • Documentation: Implement role-based permissions to control access to information. Review, edit and update files in their native formats with the Microsoft Office 365 integration. Instantly visualize updates by linking data fields to narratives and flowcharts. 
    • Testing: Perform random sampling tests with single or bulk tasks. Monitor test progress, attach samples and communicate results from the dashboard. Automatically corroborate evidence and track response. 
    • Reporting: Run convenient and tailored reports for data fields including issues tracking, COSO mapping, status reporting and more. Deliver accurate risk information to senior management, business partners and stakeholders. 
    • Certification: Leverage letter templates, customizable certificates and reminders to establish an efficient certification process. Sign and approve certificates from any device with an internet connection. 
  • FERC Reporting: Meet the Federal Energy Regulatory Commission’s (FERC) standards with accurate and prompt XBRL tagging. Work on connected datasets in real time to eliminate errors. Supported forms include electric (Form No. 1, 1-F, 3-Q, 714), gas (Form No. 2, 2A, 3Q), oil (Form No. 6, 6-Q) and service companies (Form No. 60). 
  • SEC Reporting: Streamline the preparation and filing of proxy statements, tax disclosures, 10-Qs, 10-Ks, 8-Ks, 20-Fs, Section 16 and more. Comply with European regulations like Solvency II, CIPC, IFRS and more. Link datasets to narratives and consolidate both structured and unstructured information with EDGAR and XBRL services. 
  • Capital Market Transactions: Implement a greater degree of control over debt, equity, IPO and M&A deals. Prepare documentation for capital market transactions, mergers, acquisitions, debt-offerings and take-private deals with preconfigured workflows. 
    • Speed and Accuracy: Link numbers and texts across multiple files to process transactional documentation faster. Streamline the evaluation process by automatically creating review, sign-off and commentary tasks within documents and reports. 
    • Risk Reduction: Eliminate inconsistent numbers, version inaccuracy and certification errors with a single consolidated data source. Maintain accountability, security and transparency with complete version history and permission-based access. 

    • Limitations

    At the time of this review, these are the limitations according to user feedback:

    •  Users located outside the US can experience latency issues in the SOX module. 
    •  The NextGen platform has a few incomplete features and bugs. 
    •  Involves a steep learning curve. 
    •  High subscription charges. 

    Suite Support

    Visit the vendor’s support center to learn more about using the platform; online resources include patch notes, beginner’s guides, articles, hot topics and transition assets. The community forum hosts discussions, events, webinars and feedback.

    mail_outlineEmail: [email protected].
    phonePhone: (800) 706-6526. Additional phone numbers for customers in other regions are available on the vendor’s website.
    schoolTraining: Log in to the vendor’s website to access the Learning Hub. Online training is available in the form of guided courses, videos, newsletters and simulations.
    local_offerTickets: Visit the vendor’s website to submit a support ticket.
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  • Policy and Compliance: Access tried and tested tools to manage lifecycles, compliance processes and corporate policies. 
    • Controls Testing: Test controls in real time to identify anomalies and streamline threat detection. 
    • Policy Lifecycle: Set up automated workflows to review and approve policies throughout their predefined lifecycles. Build a strong compliance framework and include provisions for policy exceptions. 
    • Control Mapping: Consolidate the testing framework with a map of controls governing policies and regulations. 
    • Smart Remediation: Leverage AI and machine learning to pursue the best remediation plan. 
    • Custom Workspaces: Design custom workplaces based on the user’s persona and preferences. 
  • Risk Management: Monitor high-impact risks to predict any disruptions. Use the dashboard and analytics module to study risk data and trends. Automated workflows review recorded threats and assign ownership and responses based on historical data. 
    • Mobile App: Remotely track risk activities. 
    • Risk Register: Store all recorded risk, control and remediation information in a secure and centralized database. 
    • Risk Scores: Assign risk scores based on qualitative and quantitative risk analysis. Allot risk ownership based on urgency for the sake of business continuity. 
    • Assessment: Run self-assessment tests to verify the integrity and accuracy of controls and registers. 
    • Identification: Automatically identify risks and generate appropriate controls based on threat maps and questionnaires. 
    • Performance Indicators: Run regular tests to identify failing controls in advance. 
  • Business Continuity: Prepare and test recovery plans for potential disruptions and disasters. 
    • Impact Analysis: Produce recovery time objectives (RTO) and recovery point objectives (RPO) with business services. Simulate different disasters to compute optimal recovery periods. 
    • Continuity Planning: Ensure protection and recovery of company personnel and assets in the event of a disaster. 
    • Crisis Management: Carefully execute business continuity plans and track progress during a crisis. 
    • Gap Identification: Map the configuration management database (CMDB) to identify gaps in recovery plans. 
  • Vendor Risk: Get greater visibility over third-party risks with regular assessments, transparent reports, tested remediation and IRM integration. Set up automated correction plans for specific risk areas like bankruptcy, security and delivery. 
    • Vendor Manager Workspace: Use a single portal to access all third-party risk and performance information. Store vendor data in a centrally accessible portfolio secured with a single sign-on (SSO) authentication. 
    • Risk Scores: Assess and assign top-down and bottom-up risk scores for all external vendors. 
    • Tier Management: Categorize vendors in appropriate tiers to assign questionnaires and frequency of assessments. 
    • Monitoring Framework: Cross-check ratings and scores from content providers against the platform’s assessment data. 
    • Assessment Management: Access best-practice online assessments for faster and more accurate results. 
  • Operational Risk: Monitor risks and controls across the system with flexible data and assessments. Use AI and predictive analytics to create and assign remediation strategies to issues. 
    • Analytics: Analyze risk events to drill deeper into risk posture, hierarchy and exposure. 
    • Assessment: Run risk assessments on any group, including location, regulation, inherent and residual risk, and auditable unit. Review the effectiveness of mitigation controls. 
    • Control Assurance: Create and store control test plans in a centralized repository. Test the effectiveness of controls against various crisis scenarios. 
    • Monitoring: Monitor risk and control indicator data across the platform and automatically alert concerned personnel about anomalies. 
    • Incident and Loss Capture: Record granular details about incidents, recorded vulnerabilities and near misses, including monetary loss and root cause. 
  • Continuous Monitoring: Use a system security plan to monitor the risk management framework (RMF) for emerging risks and compliance violations. Automatically mitigate common categories of threats with baseline controls. 
    • Asset Identification: Leverage CMDB to identify and manage assets in real time. 
    • Dashboard: Get a live feed of vulnerabilities, security incidents, milestones, configuration failures and action plans directly in the dashboard. 
    • POA&M Management: Set up a clear plan of action and milestones for responding to ineffective and failing controls. 
  • Privacy Management: Track privacy risk across multiple business domains to comply with global privacy regulations. Monitor the framework continuously to identify violations faster than the point-in-time approach. 
    • Framework: Centrally access a database of personal information and existing rules. Import new regulations into a common taxonomy for simpler adoption. 
    • Response-Triggered Actions: Set up trigger-based assessment responses to apply controls, tag personal information and update processing records. 
    • Activity Identification: Track processing activities with a record of processing activity (ROPA) or automatically detect changes. 
    • Policy Management: Create a self-sustaining review and approval process for active policies throughout their lifecycle. Factor in a room for exceptions depending on the compliance posture. 
    • Assessments: Assess how the company collects, stores and shares personal information. 
  • Integrations: Access low-code information and use automation to simplify the integration process. Supports custom integrations through REST, SOAP, JSON, JDBC and more. 
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Product Ranking

#9

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#53

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Analyst Rating Summary

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Analyst Ratings for Functional Requirements Customize This Data Customize This Data

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Audit Management Business Continuity Management Compliance Incident Management Operational Risk Management And IT Security Platform Capabilities Policy Management Regulatory Management Reports And Dashboards Risk Management Vendor Risk Management 98 70 98 79 87 100 98 95 100 100 81 0 25 50 75 100
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User Sentiment Summary

Excellent User Sentiment 587 reviews
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92%
of users recommend this product

Workiva has a 'excellent' User Satisfaction Rating of 92% when considering 587 user reviews from 3 recognized software review sites.

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4.6 (58)
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Awards

Workiva stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.

User Favorite Award

SelectHub research analysts have evaluated ServiceNow GRC and concluded it earns best-in-class honors for Platform Capabilities and Integration and Extensibility.

Platform Capabilities Award
Integration and Extensibility Award

Synopsis of User Ratings and Reviews

Functionality: 69% of users who reviewed this aspect were satisfied with the platform’s functionalities, including internal controls and issue Testing, SOX narratives, auditing, and policy management.
Ease of Use: According to 61% of users mentioning this element, the platform’s intuitive UI makes it easy to use.
Sharing and Collaboration: All the users who mentioned this element said the platform made it easier to share documents and collaborate on projects.
Service and Support: 83% of users reviewing customer support said it’s highly responsive and knowledgeable.
Automation: 100% of reviewers mentioning automation found it helpful to learn and apply new formats and automate financial and regulatory processes.
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Streamlined Risk and Compliance Management: ServiceNow GRC helps organizations efficiently manage risks and compliance requirements, providing a centralized platform to assess, monitor, and mitigate potential threats. This can lead to improved decision-making and a more proactive approach to risk management.
Enhanced Visibility and Reporting: The platform offers robust reporting and analytics capabilities, enabling organizations to gain deeper insights into their risk landscape. This improved visibility helps identify trends, track key metrics, and demonstrate compliance to stakeholders.
Automation and Efficiency: ServiceNow GRC automates many manual tasks associated with risk management and compliance, such as data collection, control testing, and issue remediation. This automation frees up valuable time and resources, allowing teams to focus on more strategic initiatives.
Integration with ServiceNow Ecosystem: As part of the ServiceNow platform, GRC seamlessly integrates with other ServiceNow applications, such as IT Service Management (ITSM) and Security Operations (SecOps). This integration provides a holistic view of risk and compliance across the organization, fostering better collaboration and communication.
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Speed and Performance: 100% of users mentioning performance said they experienced bugs, glitches and slow upload and export speed on the NextGen platform.
Cost: All the users who reviewed this aspect found the system’s subscription charges higher than its competitors.
Training Resources: 60% of users mentioning this element said the platform requires more training material to compensate for its steep learning curve.
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Cost: The licensing structure can be complex and expensive, especially for larger organizations or those with advanced GRC needs. This can make it difficult to predict and manage costs, potentially leading to budget overruns.
Complexity: Implementing and customizing ServiceNow GRC can be a complex and time-consuming process, often requiring specialized expertise. This can lead to extended implementation timelines and increased costs.
Usability: Some users find the interface to be unintuitive and cumbersome, particularly for those who are not familiar with ServiceNow's platform. This can lead to a steep learning curve and reduced user adoption.
Integrations: While ServiceNow offers a range of integrations, some users report challenges with integrating GRC with other systems, such as HR or financial applications. This can limit the effectiveness of GRC and create data silos.
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Workiva is a cloud-based comprehensive reporting platform that provides unrestricted global access to FERC and SEC reporting modules, internal controls, and audit and policy management tools for complete in-house risk management. The platform can be difficult to learn initially, but a responsive support team makes it easier to understand the functionalities. In addition, automated reporting processes add a lot of value to the platform. However, the NextGen platform has a few performance issues. Updates can cause temporary glitches and bugs, resulting in unforced errors in datasets. All in all, Workiva is a safe bet for vulnerability management software. In spite of high subscription costs, it’s an excellent candidate if you can fit it into your budget.

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Imagine a bustling airport control tower, where air traffic controllers efficiently manage the complex comings and goings of countless aircraft. ServiceNow GRC acts as a similar control tower for an organization's governance, risk, and compliance landscape, providing a centralized platform to oversee and orchestrate these critical functions. User reviews from the past year paint a picture of a powerful and comprehensive solution, but one that requires careful consideration before implementation. ServiceNow GRC received praise for its ability to streamline GRC processes, replacing siloed spreadsheets and manual tracking with a unified system. This centralized approach enhances visibility and control, enabling organizations to proactively identify and mitigate risks, ensure compliance with regulations, and make informed decisions based on real-time data. Users also appreciated the platform's scalability and flexibility, allowing it to adapt to the evolving needs of growing businesses. The seamless integration with other ServiceNow products further extends its functionality, creating a cohesive ecosystem for managing various aspects of an organization's operations. However, some users expressed concerns about the platform's cost and complexity. The initial investment and ongoing maintenance expenses may pose challenges for smaller organizations or those with limited budgets. Additionally, the implementation process can be intricate, requiring careful planning and potentially involving external consultants. These factors highlight the importance of thoroughly evaluating the organization's needs and resources before adopting ServiceNow GRC. While the platform offers robust capabilities, its suitability depends on the specific context and requirements of each organization. For larger enterprises with complex GRC needs and the resources to invest in a comprehensive solution, ServiceNow GRC can be a valuable asset in navigating the ever-changing landscape of governance, risk, and compliance.

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Screenshots

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