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ServiceNow CIS-VRM: Certified Implementation Specialist - Vendor Risk Management

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Reading Time: 13 mins | Publish Date: 22 Jun 2021 | Update Date: 17 Oct 2021

How to Prepare For Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

Preparation Guide for Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

Introduction

Based in California, ServiceNow provides a cloud computing platform to help businesses handle automated workflows for business operations and has been recognized for creativity as well. ServiceNow is a Santa Clara-based American software company that provides and administers this CIS VRM exam test. ServiceNow, founded by Fred Luddy in 2004, is listed on the New York Stock Exchange and is a member of the Russell 1000 and S&P 500 Index. ServiceNow offers digital workflows that produce excellent experiences and unlock value. ServiceNow believes in technology’s ability to decrease the uncertainty of our jobs and make people work better. In new digital workflows, they transform old manual ways of working.

ServiceNow delivers an expansive portfolio of IT, HR, Customer Support, and other divisions that cover the Now Platform training offerings. They teach you how to work quickly and optimize your use, whether you are just getting started or ready to extend your skills and knowledge of ServiceNow. Demand for specialists at ServiceNow is rising rapidly.

A unified mechanism for managing the vendor portfolio of your company and completing the vendor evaluation and remediation lifecycle is provided by the Vendor Risk Management application. Integrating with other GRC systems also offers top-down traceability for monitoring and hazard enforcement. Certification by ServiceNow gives participants the information and trust to take full advantage of the ServiceNow program. Attendees learn to configure, customize, and build with real-world examples and a hands-on approach in the training and certification programs. ServiceNow Qualification tests in a proctored environment are computer-based, multiple-choice exams delivered by ServiceNow training partner Kryterion. Also available as online proctoring.

This document explains the exam in detail with all the topics included and helping preparatory material. The exam difficulty is also discussed with methods of overcoming that difficulty by studying the CIS VRM dumps.

Introduction to Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

The ServiceNow Certified Implementation Specialist-Vendor Risk Management Exam Specification specifies the goal, audience, testing options, coverage of review material, test framework, and prerequisites for being a Certified Implementation Specialist for Vendor Risk Management (VRM). The Certified Implementation Specialist test certifies that a qualified candidate has the expertise and necessary knowledge to contribute to the application for ServiceNow Vendor Risk Management configuration, implementation, and maintenance.

A unified mechanism for managing the vendor portfolio of your company and completing the vendor evaluation and remediation lifecycle is provided by the Vendor Risk Management application. Integrating with other GRC systems also offers top-down traceability for monitoring and hazard enforcement. Take this exam to start developing the implementation strategy of Vendor Risk Management (VRM). This exam covers knowledge of the domain, common technical aspects of an implementation, as well as procedures for managing an implementation effectively.

Attendees will learn tactical skills and tactics that will help prepare them soundly and effectively to execute Vendor Risk. Students draw on existing expertise and skills through seminars, community discussions, presentations, and hands-on labs by incorporating the best practices for implementation. Topics of the Exam include:

  • Vendor Risk Management Overview
  • Core Configuration
  • Assessment Configuration
  • Vendor Portal Experience
  • Application Relationships
  • Dashboards and Reports

Topics of Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

Exam content is split into Learning Domains that relate to key topics and operations usually encountered during the implementation of ServiceNow. Relevant learning goals have been established in each Learning Domain and are evaluated in the exam. The following table shows the domains, weightings, and sub-skills in learning measured by this analysis and the percentage of questions represented in each domain. An all-inclusive list of exam content should NOT be considered to include the subskills mentioned. The CIS VRM dumps pdf contains all of these topics so definitely check them to get a fair understanding of the exam topics.

Learning Domain 1 - Vendor Risk Management Review and Vendor Risk Management Review (23.3%)

Area of focus for this domain:

  • About Vendor Risk Management
  • Vendor Risk Management Process
  • Technical Details

Learning Domain 2 - Core Configuration (13.3%)

Area of focus for this domain:

  • Vendor Portfolio Configuration
  • Vendor Contacts Configuration
  • Vendor Tiering Configuration
  • Vendor Security Scoring Configuration

Learning Domain 3 - Assessment Configuration (25%)

Area of focus for this domain:

  • Assessment Basics
  • Vendor Risk Assessment Configuration
  • Vendor Risk Assessment Generation
  • Vendor Risk Assessment Calculations
  • Vendor Risk Assessment Lifecycle

Learning Domain 4 - Risk Issues and Processes (13.3%)

Area of focus for this domain:

  • Vendor Risk Issue Configuration
  • Vendor Risk Task Configuration
  • Vendor Risk Process Workflows

Learning Domain 5 - Vendor Portal Configuration (15%)

Area of focus for this domain:

  • Contact Configuration
  • Vendor Assessment Processing and Configuration

Learning Domain 6 - Other Application Relationships (5%)

Area of focus for this domain:

  • ServiceNow GRC Overview
  • Monitor Risk and Control Compliance
  • Other Application Relationships

Learning Domain 7 - Dashboards and Reports (5%)

Who should take the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

Individuals who are responsible for implementing Vendor Risk Management should take the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam. ServiceNow clients, partners, staff, and others interested in becoming a ServiceNow Vendor Risk Management Implementer have access to the Certified Implementation Specialist exam.

How to study the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

The Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam has a set of prerequisite courses that must be completed to gain access and register for the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam. These courses can either be taken as 3-day instructor-led course or via 13 hours of on-demand video lectures. The links below can be used to access these courses.

In addition to the above-mentioned courses, candidates can find the following topics related to the exam and can study them as extra materials:

  • Performance Analytics Essentials
  • Service Portal Fundamentals
  • Automated Test Framework Fundamentals
  • Knowledge Management Fundaments

As always, students are highly recommended to study CIS VRM dumps as they have proved an extraordinary and unbelievable pass rate among students. Certification-questions provides the best quality CIS VRM practice dumps.

Students must study them and get themselves familiar with the exam by taking the CIS PPM practice exams.

Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam Certification Path

Vendor Risk Management (VRM) Exam is part of the Certified Implementation Specialization. The official prerequisite for this exam is the Certified System Administrator (CSA) certification. However, some unofficial, but recommended prerequisites are stated below:

  • ServiceNow Platform Implementation certification
  • GRC Fundamentals certification
  • Vendor Risk Management Fundamentals eLearning certification
  • Detail study of CIS VRM dumps pdf
  • Practicing of CIS VRM practice exams

How much Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam Cost

After completion of the prerequisite courses, students will receive a voucher via which they can register for the exam. The exam itself does not have a price but applicants must complete the prerequisite courses mentioned above. These courses will cost some amount to the applicants. Furthermore, the students will have to pay for the CIS VRM dumps pdf and the CIS VRM practice test which will also add to the cost of the exam. Hover on to the website where these training courses could be found to check the exact prices of the courses. The links are provided above. If applicants fail the exam, they can retake the exam three more times, but at some cost.

How to book the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

Subject to availability, appointments can be made in advance or on the actual test day. To register and to sign up for the CIS VRM exam test, please visit WebAssessor. For this test, online proctoring is available. Every applicant must register for the exam through the ServiceNow Webassessor website using a voucher obtained by completing the implementation training prerequisite for Vendor Risk Management (VRM). Voucher codes are non-transferable and only allow the applicant to sit for the Certified Implementation Specialist Vendor Risk Management Test.

To book the prerequisite course:

  • Individuals can use this link to access the Learning Portal
  • Individuals with OKTA/SSO login can access the Learning Portal directly to Self‑Register
  • Cancellation and rescheduling policies apply (see Terms and Conditions)
  • Private Training is available for a flat fee for up to 16 participants. Please contact at trainingAE@servicenow.com for more information and pricing details.

Each test taker has the option of taking the exam at an Accredited Testing Center or as an online-proctored test during the registration process. The Certified Implementation Specialist exam is carried out in both testing venues via a clear, friendly user interface tailored for ServiceNow tests. The testing network for Kryterion is worldwide and all locations provide a secure, comfortable testing environment. At a specific date and time, candidates register for the exam, so there is no waiting and a seat in the testing center is reserved. As an online-proctored exam, each candidate can also choose to take the examination. This testing environment allows an applicant if certain conditions are met, to take the test on his or her method.

What is the duration, language, and format of the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

  • Number of questions: 60 - 75

  • Passing score: 70%

  • Examination platform: Online proctored or on-site

  • Language of Exam: English

  • Format: Multiple Choice (single answer) There are at least four possible answers for every multiple-choice question on the test. The applicant taking the exam checks the reaction choices and chooses the one reaction to answer the question most correctly.

  • Multiple Select (select all that apply) There are at least four possible answers for any multiple-select question on the exam. How many responses should be selected will be mentioned in the question. The applicant taking the exam checks the reaction choices and chooses ALL answers that answer the question correctly. There are two or more correct answers to multiple-select questions.

The benefit of obtaining the Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam Certification

It’s all a matter of risk. First and foremost, a properly designed and well-run vendor risk management program would decrease risk. Third parties have the potential to expose your organization to the risk of a violation, non-compliance, financial penalties, and reputational harm, particularly those handling sensitive data. You’ve probably taken those risks down to a degree that at a minimum, suits your risk appetite if your VRM program is humming along. (Side note: If you read Part 1 of our series, you will know that vendor risk management aims to reduce, not eliminate, vendor risk to an acceptable level.)

You can take a deep breath and concentrate on driving the most value from your vendor partnership, with third-party risk properly mitigated. Cost slashing, not corners. There are expensive and inefficient ad hoc vendor risk management systems. It can be even more so to operate without a vendor risk management program, especially when you consider the costs associated with data loss, remediation work, and enforcement fines.

Although it takes an initial cost to build a vendor risk management program from the ground up the long-term benefits are priceless. Ultimately, the expense of dealing with suppliers is minimized, as, during initial onboarding, a centralized and structured process for rating suppliers removes the need for duplicative and expensive reviews if the supplier interacts with a new area of the organization. For the first time, do it right, and the long-term costs are merely the expense of constant vendor monitoring.

The operating costs of assessing suppliers are also minimized by centralizing and standardizing your vendor risk control. If IT, compliance, sourcing, and risk management both carry out different risk evaluations of new suppliers, you are likely to see organizational inefficiencies that push up the cost of evaluating each supplier (and giving your vendors headaches). It can dramatically reduce your labor and costs by centralizing these operations into a single VRM function.

Danger comprehension over time. A well-designed vendor risk management program creates better metrics to compare risk scores between competing vendors, providing you with simple, repeatable, reliable metrics to assess your vendors' risk levels. Of course, during initial seller selection, this is helpful, but it can also be used during contract recompetes and renewals. Knowing the risk score of a vendor (ideally maintained up-to-date through ongoing monitoring) enables you to award contracts to “low trouble” vendors, those with a proven track record of strong internal controls and data protection mechanisms, reducing the total cost you will spend over the lifetime of the contract on vendor maintenance, monitoring, and mitigation.

Leverage Gaining. Engaging third parties requires negotiation, and your company has tight competition. Knowing a supplier’s risk profile gives you leverage to require the prospective supplier to change their behavior in certain ways. In some cases, as you seek to reduce the cost of the vendor to allocate funds to risk mitigation, it may also give you a tool to negotiate to price. Both of these results allow improved vendor behaviors and cost reductions, resulting in positive impacts on your relationship with your business and vendor.

Maintaining conformity. The reality that the vendor ecosystem of a company serves as an extension of the company and should be treated as such has been recognized by most new industry frameworks and data privacy regulations.

The General Data Protection Regulation (GDPR) of the EU is the first regulation to keep data processors, mostly suppliers, equally accountable in the event of a violation (as discussed in Part 3 of our series). It also puts increased focus on getting appropriate controls in place for the data controller (which is mostly you) to secure data that is being processed beyond your perimeter. This trend seems likely to continue with the post-GDPR wave of regulations, such as the California Consumer Privacy Act, requiring you to pay more and more attention to your vendors or face skyrocketing fines in the event of a breach. A powerful VRM program simplifies your compliance efforts and protects you from penalties and fines.

Consistency and continuity of building. Centralized management of vendor risk means that your organization understands vendor risk, not just the individual managing the vendor relationship. If you have changes in departmental leadership, without interruption, new leaders will be able to review and understand each vendor’s risk, as well as their historical risk performance.

Besides, unified VRM helps anyone in the company, without having to deal with needless inter-department paperwork, to easily engage approved suppliers for high-priority projects. Expand this concept to complex organizations of portfolio companies or sub-brands, and huge efficiencies will begin to be realized. The accuracy and centralized nature of the reviews ensure that even when internal resources shift, your organization can run efficiently and without interruption.

Difficulty in Writing Certified Implementation Specialist - Vendor Risk Management (CIS VRM) Exam

Vendor Risk Management (CIS VRM) Exam is not a difficult one but one can make it difficult if not prepared well for. Hence we encourage students to engage with fellow students on the ServiceNow community to learn together as well as take help from people who have already appeared for the exam and can guide on topics that are challenging and require more attention of the students. If students study CIS VRM dumps provided and test their understanding and knowledge on CIS VRM practice tests, they can sure take advantage upon their fellows, get a better understanding of exam format and test environment and these CIS VRM dumps greatly reduce the exam difficulty. Over the years, students have studied these dumps and have performed extraordinarily in the exams.

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