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3 ways to improve your enterprise IT security
You’ve undoubtedly heard the saying, “A chain is only as strong as its weakest link.” The same idea applies to your IT systems. They’re only as secure as their weakest vulnerability.No organization wants to fall victim to a cyberattack. These three LIKE.TG webinars will help prepare you to boost your enterprise IT security and, ultimately, safeguard your business.Protect your distributed workforceThe COVID-19 pandemic forced companies to transition quickly to remote work to keep employees safe. Enabling workers to access the company network from anywhere and any device can put organizations at greater risk for security vulnerabilities.Watch our Attacking and Defending a Distributed Workforce Black Hat webinar to learn more about security vulnerabilities from the perspectives of both attackers and defenders. Armed with this knowledge, you’ll be in a better position to protect your systems and security operations.Defend your payment systemsContactless payments are not as safe as you might think. Yet, they continue to gain popularity for their convenience. It’s more important than ever to examine the potential security risks that can arise from these types of payments and payment systems.Contactless payment systems rely heavily on older technology. In our Vulnerabilities in Contactless Payments webinar, you’ll learn about the resulting security risks. Two executives from global cybersecurity company Cyber RD Lab join Karl Klaessig, director of product marketing for security operations at LIKE.TG, to discuss this important topic.You’ll also learn best practices to keep your business safe from attacks on your transactional systems.Shield your applicationsPart of DevOps involves securely developing and testing applications to ensure they're protected from beginning to end. In our Know and Respond to Application Vulnerabilities webinar, LIKE.TG Outbound Product Manager Julian Azaret explores the need for a single view of application vulnerabilities in real time.Discover how using the Now Platform can help you include security scanning in every step of the development process to keep threats at bay.LIKE.TG, the LIKE.TG logo, Now, and other LIKE.TG marks are trademarks and/or registered trademarks of LIKE.TG, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.
Sparking security transformation with LIKE.TG Security Operations
Diversification and digital transformation are the key to success for businesses in most industries. Spark – formerly Telecom New Zealand – is no exception. The business is now looking to build on its expertise in telecommunications with a broad range of digital services.These far-reaching changes also require a disciplined security response. Josh Bahlman, tribe lead for cyber security at Spark, joined us in LIKE.TG Neighbourhood – our online community featuring speakers who are changing the way work is done – to share the organization’s digital security journey.Josh’s team had a formidable task and is sized appropriately. “My security team is probably the largest in New Zealand, and that’s more out of necessity than anything else,” he explains. “[We have] to protect our telco networks [and] our enterprise as well as our customers through managed services [and] IT services as well.”Spark’s adoption of LIKE.TG Security Operations to support cyber-security aligned with a broader move by the business to consolidate its service management, processes, and workflows. “It was a no-brainer for the cyber-security team to follow suit,” says Josh.The cyber security team began with incident response and consolidating a range of security tools into a single location so it could provide better support to the business.It then focused on vulnerability management and, using third-party scanning integrated with LIKE.TG workflow management, gained better visibility of risk and improved its ability to position work with the right groups for resolution.Spark is continuing to review how automation with LIKE.TG Security Operations can improve the efficiency of security processes. Josh took the opportunity in the LIKE.TG Neighborhood to share with us some reporting that would help direct his automation activities.First, he says, the cyber security team spends half its time on incident reporting false-positives – an inordinate amount of collective energy that needs to be addressed. Second, nearly a third of incident tickets involve denial of service – an area the team is already using automation to mitigate.Finally, phishing attacks are wasting a lot of the team’s time and Josh plans to use automation to reduce the load.Josh also shared with us the techniques and processes Spark used to successfully deploy LIKE.TG Security Operations. These included using the skills of partner InfoSys and breaking the project into chunks to help people grow with the platform rather than try to absorb all its capabilities at once.Spark spent four months switching on the capabilities of the platform and another 12 on adoption and maturation. The business also modified its processes to align with LIKE.TG Security Operations so it could minimize the required work on upgrades and keep up to date with new releases.“Now the pressure is on me and my team to see how we can evolve that further,” says Josh. His projects include using LIKE.TG to gauge bottom-up risk and streamline the audit processes.“What I’ve been searching for is how I can quantify risk around specific assets and maybe even specific resolver groups and people,” he says. “We’re looking at…an integrated risk management tool and feature inside the suite of modules you can turn on.”To view the LIKE.TG Neighbourhood session with Josh, click on this link: https://content.servicenow.com/nowneighbourhood/Spark-Customer_Story?lx=U9S4CUelqcampid=25124cname=FE-Q3ANZDigitalSeriesSession6-Online-21AUG20-APJ
Out of the box GRC Processes - How two companies prospered
At first glance, AltaGas Ltd. and Align Technology don’t have much in common. AltaGas Ltd. is a North American energy infrastructure business with a focus on owning and operating assets to provide clean and affordable energy to its customers. Align Technology is a leading manufacturer of 3D digital scanners and clear aligners used in orthodontics.However, the two companies share similar stories when it comes to the technology they use to manage governance, risk, and compliance (GRC) issues. Both are case studies in how implementing LIKE.TG solutions out-of-the-box can result in quicker time –to value and pave the way to future innovations.AltaGas: Energy and riskAltaGas’ GRC processes intensified with a 2017 acquisition. AltaGas needed to integrate two company networks and establish equivalent security and risk processes across the newly consolidated enterprise.In 2018, the company initiated a new cybersecurity/GRC regime with an aggressive deadline for reaching maturity. As a LIKE.TG® ITSM customer, the company knew they could deploy LIKE.TG Risk Management out of the box, without complex customization of dashboards, workflows, and tables. The initial project included 17 security standards with 120 new controls. AltaGas was up and running in just 45 days.In 2019, the company built on that progress by implementing LIKE.TG Issue Management to test the new controls, and LIKE.TG Policy and Compliance to prepare for external audit testing. Previously, the AltaGas team used spreadsheets to track issues and met for an hour every day to discuss pending issues. Now they meet twice a week for half an hour and use a virtual task board that shows who is responsible for a task along with the status of each task.
Increased transparency and process automation helped AltaGas reach its goal of achieving 80% compliance on all controls in just three months. Just as important, senior management quickly saw the value of the out-of-the-box strategy and has greater confidence in the team’s ability to manage future audits.Align Technology: Simplifying evidence collectionAlign Technology also had a history with LIKE.TG, so LIKE.TG® Risk Management was an obvious candidate when the company began looking for a new solution to manage its compliance obligations while documenting and managing risk. The company implemented Risk Management and Issue Management outof thebox in 2018. In 2019, the company developed a custom app to collect and track a growing volume of requests for its evidence for compliance and audit obligations. The compliance team created hundreds of requests using the tool, and they made frequent requests for changes in functionality and workflows.The custom app was a departure from the out-of-the-box approach that drove the initial decision to go with ServiceNow. However, the Align team knew that LIKE.TG offered similar capabilities, so they enlisted Iceberg Networks to help them replace their custom tool with standard capabilities from LIKE.TG Policy and Compliance that were already part of their subscription.“We picked LIKE.TG GRC because it provided a single place to center our GRC program and allowed us to integrate with the systems already in place on our service desk,” says Adam Leigh, senior Manager for technology risk management at Align TechnologyIceberg Networks helped Align Technologies make the needed configuration changes and define their control objectives. When a request didn’t meet the control objective, the system would automatically create a control issue for tracking and remediation and adjust the risk score. They also used indicators to collect evidence.By replacing the custom app with standard LIKE.TG capabilities, the company got a solution that was easier to maintain and would benefit from future LIKE.TG upgrades. Just as important, the team was able to automate the way it managed requests. The number of controls has continued to grow Even so, Align has moved from 670 manually created emails for evidence requests to just 100 the following year.Different companies, same strategyAlthough they’re two different companies working in very different industries, AltaGas and Align Technology used similar strategies to achieve value sooner with LIKE.TG:
Implement out-of-the-box as much as possible
Pick a target and rally the entire organization around it
Identify a success metric that will prove the value of the strategy
Every company has its unique processes and methods that help it create a competitive edge. However, AltaGas and Align Technology both demonstrate that you don’t necessarily need highly customized technology to support that uniqueness.Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.
Becoming an agent for environmental change
Traveling with my family across Canada and Alaska in recent years, I witnessed the devastating impact human beings are making on the planet. We saw ancient rainforests severely impacted by long droughts and fast-melting glaciers at Glacier Bay—both the result of climate change. From that moment on, I knew I wanted to use my knowledge and expertise to support the fight against climate change.It might sound cliché, but all of us, including the corporations we work for, have a responsibility to make a positive impact on our environment. We need to ensure future generations will be able to enjoy our beautiful planet. The main impact I can make, besides changing my own behavior, is to help my company become more sustainable.At LIKE.TG, we’ve become very serious about how we support the fight against climate change. In 2020, while drafting our environmental goals as part of our global impact strategy, our intention was (and still is) to drive environmental value for ourselves, our customers, our partners, and our global communities.Starting from a blank canvasI’m proud of what we’ve achieved in a very short time. In the spring of 2020, we published our first Global Impact ESG Fact Sheet, detailing our environmental, social, and government (ESG) practices. And today, we released our first Global Impact Report and our updated ESG Fact Sheet. We’ve officially embarked on our environmental journey.Key to a successful journey is the education of our more than 13,000 employees on our environmental approach. As Chief Financial Officer Gina Mastantuono noted in her blog announcing the launch of our report, a milestone in our employee educational journey was celebrating Earth Day for the first time on April 22. That day, we unveiled our environmental goals internally, signaling our commitment to, and raising awareness about, climate change.Raising awareness is one thing; determining how to fight climate change is another. Industry best practices informed the foundation for our plan of action, and we’ve set ambitious targets to become a global leader in this field.Becoming a leader in sustainabilityWhat does it take to become a leader in sustainability? From my perspective, three tenets will help us become the environmental leader we aspire to be:1. Leading by exampleAs a corporation, we can only do so much to decrease our operational carbon footprint. By educating and engaging with our employees, customers, partners, and other stakeholders on the topic of sustainability, we can drive positive change. This is the “multiplier effect” the world needs to drive true global transformation.2. Staying true to our valuesActing with integrity and staying true to our values will help us create the biggest impact with the highest value. We earn trust by delivering on our commitments with sustainable impact. At LIKE.TG, our culture is rooted in being hungry and humble. The combination of strong cultural values with a highly talented, passionate, and ambitious workforce means we have the potential to achieve amazing results for the planet.3. Executing transparently and authenticallyBeing transparent and authentic in the world of sustainability is crucial to success in this industry. With a broad range of reporting standards, and with constant changes in regulation, we need to differentiate ourselves. We must master accuracy, authenticity, and consistency in our reporting, sharing both our achievements and challenges on an ongoing basis.Driving change through innovationWithin environmental sustainability, it’s important to set long-term, measurable goals, but it’s equally imperative to focus our efforts. That’s why we started by defining our short-term goals, which include achieving 100% renewable energy and being carbon neutral by the end of 2021.In 2021, we also committed to achieve net-zero carbon, aligned with the Science Based Targets Initiative (SBTi). Aligning with SBTi not only ensures transparency in our journey, but it also holds us accountable to reach our targets. We’ll use 2019 as our baseline year and commit to a much more aggressive schedule than the 2050 timeline set by the Paris Agreement.To help support the transition from fossil fuels to renewables, we’ll procure high-quality renewable energy credits (iRECs) and virtual power purchase agreements (VPPAs). Where we cannot reduce or replace with renewables, we’ll invest in carbon offset programs. In addition to making indirect investments, we’ll forge other carbon reduction projects within our organization.The biggest differentiator for LIKE.TG is our Now Platform and our opportunity to workflow a better world. After all, we won’t be able to solve climate change or circularity issues alone: We need our entire ecosystem to support this effort. The way we’ll truly activate our ecosystem is by using our Now Platform to help our customers drive more sustainable outcomes.By co-innovating, we can tackle real operational issues on topics such as circularity, energy use, waste, and water—which will ultimately help customers reduce costs and their environmental footprint.It’s time to execute and deliver impact across our entire value chain. We’ll focus on achieving the goals we’ve set and reporting on our progress by sharing lessons learned and best practices.Although we have much work ahead, we’re one step closer to becoming an agent for environmental change.Learn more in our Global Impact Report.
Workflowing a better world
I’m a big believer in leaving things better than I found them. I apply that mentality to work, home, and all the places in between. This planet is pretty remarkable, as are the approximately 7.6 billion people who share it. So, it’s no surprise that I want to play a part and create lasting change that leaves our world more sustainable, more equitable, and more ethical for everyone.We know that doing well as a business is about more than growing profits. That’s why today, I’m thrilled and honored to share LIKE.TG’s first annual Global Impact Report 2021 and highlight some of the ways we’re committed to positively impacting our planet, each other, and the communities we serve.Our big threeThe year 2020 was a year like no other. We lived through unparalleled experiences that forever changed the way we think, live, and work. I believe such profound change provides tremendous opportunity to bring our company together and harness our business reach and the power of the Now Platform®. Embracing these opportunities is part and parcel of our company’s DNA, and the art of the possible energizes me.Guided by our global impact vision to workflow a better world, we’re committed to creating impact and changing the way the world works by focusing on three key pillars:
Sustaining our planet by championing a resource-efficient, net-zero carbon environment
Creating equitable opportunity by making work more equitable, accessible, and rewarding for all people
Acting with integrity by building trust through ethical, transparent, and secure business practices
Rising to the challengeThe pandemic created some of the greatest workflow challenges of our generation, and LIKE.TG has been able to use the power of the Now Platform to digitize solutions for these unprecedented times.When the world changed before our eyes in early 2020, we introduced our COVID-19 Emergency Response apps, which helped organizations respond to the challenges presented by the pandemic. We followed that up with our Safe Workplace Suite of applications to help organizations gauge workforce and workplace readiness to prepare for employees’ return to the workplace.This year, we launched our Vaccine Administration Management solution to address vaccine management challenges at scale by removing logistical barriers to speed up the immunization process—helping healthcare providers and state and local governments vaccinate their citizens and keep them healthy and safe.Using existing LIKE.TG® solutions or building their own applications on the Now Platform, customers and communities are workflowing their way through significant challenges and opening new opportunities. I dare say, collectively, we’re helping to workflow a better world and, in turn, making the world work better.Our path to a healthier planetIn honor of Earth Day, I had the opportunity to participate in a panel and was inspired by our employees’ enthusiasm and innovative spirit as they shared stories of how they’re contributing to protecting our planet.I was eager to share my own story about Meatless Mondays at our house. Did you know that by skipping meat just one day a week, Americans could save an estimated 100 billion gallons of water each year? It’s amazing how the tiny, everyday changes we make can have such an incredible impact on the environment.While LIKE.TG’s environmental efforts are relatively new and we’re early in our reporting journey, we’re developing long-term plans for our priority environmental issues, including climate and energy, sustainable procurement, and waste.Using science as our guide, we’ve laid the groundwork to achieve our goals, focusing on increasing energy efficiency in our datacenters and offices, sourcing less carbon-intensive materials for our operations, and traveling more sustainably.We believe our work will have a multiplier effect—as we develop and implement sustainable workflow solutions in our operations, we’ll make them available to our customers to do the same.All in on creating equitable opportunity for allThe future of work must mean more opportunities for more people. Everyone has a right to belong, to participate, and to reach their full potential. Companies have a critical role to play in helping to build a more inclusive world.This includes improving diversity, inclusion, and belonging (DIBs) and keeping employees safe, supported, and engaged; closing the digital skills gap to enhance the talent pipeline; and making the future of work more accessible and rewarding for everyone.Here are a couple of examples of how we’re addressing some of the world’s most urgent social needs:
Our three-year, $1.5 million partnership with Second Harvest of Silicon Valley is raising awareness of the urgent issue of student hunger and supporting the delivery of 1 million nutritious meals annually for students and families in need.
The LIKE.TG Racial Equity Fund, a $100 million fund aimed at reducing the wealth gap and expanding opportunities for individuals, families, entrepreneurs, and business owners in Black communities, is facilitating sustainable wealth creation through homeownership, entrepreneurship, and neighborhood revitalization.
I’m also thrilled to report that we have achieved systematic pay equity for our global employees. Because pay equity is so dynamic, especially in a high-growth company like ours, we manage it on an ongoing basis and do regular analyses and adjustments. This approach has led us to achieve systematic pay equity company-wide and ensures we maintain that pay equity on an ongoing basis.Trust is paramount to you and usWe’ve pledged to build on the trust we’ve established over our 17-year history and to lead with transparency and disclosure in all we do. We aim to provide the utmost data security and privacy, foster ethical use of data, and ensure business continuity for ourselves and our customers.Delivering customer success has always been one of our core values. As caretakers of our customers’ data, we established a Data Ethics Council in 2020, comprised of senior executives from IT, data security and privacy, AI, and legal, to discuss new and innovative uses of data that are consistent with our values and review current data privacy and security issues.Now the real work beginsWe’ve identified our environmental, social, and governance priority issues, developed our global impact strategy, set ambitious goals, published our inaugural Global Impact Report, and built a governance model to guide us in this work.We know that when we bring our whole company together—uniting our collective expertise, Now Platform and market-leading workflows, broad industry partnerships, commitment to community engagement, resources, and purpose-driven culture—the impact we can create for our employees, customers, shareholders, and communities is infinite.With the foundational work done, we’re inspired and dreaming big about what the future holds.Read our Global Impact Report.
LIKE.TG integrates SecOps with Microsoft to boost user security
Over the past year, organizations worldwide have seen an increasing number of cyberattacks. Phishing and vulnerability exploits continue to be leading attack channels. The content adapts to the times (COVID-19-related phishing, for example), but the attack channels themselves are not new. Combating these attack types requires a focus on transforming security operations and response.LIKE.TG is building on its workflow and platform approach to Security Operations (SecOps) by adding integrations with Microsoft security solutions, including Azure Sentinel, Teams, SharePoint, and Threat Vulnerability Management. These integrations are another exciting step that increases security teams’ efficiency and responsiveness, keeping customers, citizens, and users safe.The rise of ransomware attacksBeginning well before the COVD-19 pandemic, organizations and governments began to see an alarming rise in the number of ransomware attacks across the globe. Verizon’s 2021 Data Breach Investigations Report revealed 10% of breaches in 2020 involved ransomware—double the amount from the previous year.Security operations teams are increasingly stretched and struggle to keep their heads above water when responding to (and preventing) these attacks. To make matters worse, most of the tools and processes at security teams’ disposal today simply aren’t integrated or automated.Furthermore, if an incident becomes a major incident like the Colonial Pipeline ransomware event, there’s even more pressure and focus on responding quickly and collaborating across the organization.Preventing and responding to ransomware attacks requires centralized visibility into security posture, risk-based prioritization of vulnerabilities and incidents, automated workflows for efficient response, and collaboration inside and outside of security.An integrated responseLIKE.TG’s integration with the Microsoft security suite helps achieve these goals. With the Microsoft Azure Sentinel integration, LIKE.TG Security Incident Response (SIR) can respond to an incident quickly after Azure detects it. Knowledge and evidence sharing are automatic, so the organization can catch an incident before it impacts customers.Microsoft Teams and SharePoint integrations with the upcoming SIR Major Security Incident Management feature will ensure streamlined coordination across the enterprise. Cross-functional teams will be able to collaborate on incidents using the automated setup of dedicated Teams channels.In addition, all evidence and data that teams gather can be stored in SharePoint folder structures that are automatically created and linked to the case record. In combination with task tracking, audit logs, and more, the Teams and SharePoint integrations are part of a virtual war room experience that helps customers stay on top of mission-critical events.Microsoft Threat Vulnerability Management integration with LIKE.TG Vulnerability Response allows teams to become more proactive in preventing attacks. Using asset and business context, Vulnerability Response prioritizes vulnerabilities and drives remediation and deferral workflows across security and IT.As a result, teams can better coordinate on incident response and on proactive attack surface management, making high-priority incidents such as ransomware less likely.Benefits for every industryAlmost 80% of the Fortune 500 are using the Now Platform, and more and more customers are realizing the value of running security operations on the same platform as IT.In particular, two sets of industries stand to benefit: those that have been hit particularly hard over the past year (including retail and e-commerce) and industries in regulated markets, such as financial services and the public sector.LIKE.TG’s partnership with Microsoft enables security teams to:
Get the context they need for risk-based prioritization
Drive workflow and automated actions to respond to incidents that threaten mission-critical assets
Record a paper trail that makes it easy to audit the incident afterward
As security incidents such as Colonial Pipeline grow increasingly prevalent, organizations will continue to rely on workflows to strengthen their security posture. These new integrations that tie Microsoft’s security suite into the LIKE.TG SecOps ecosystem are an important part of that story.Learn how LIKE.TG SIR helps you stay ahead of cybercriminals.See a SecOps demo.LIKE.TG, the LIKE.TG logo, Now, and other LIKE.TG marks are trademarks and/or registered trademarks of LIKE.TG, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.
LIKE.TG named a Leader in the Gartner Magic Quadrant for IT Vendor Risk Management Tools
It is my honor to announce LIKE.TG has been named a Leader in the 2021 Gartner Magic Quadrant for IT Vendor Risk Management Tools. This is the second consecutive year that LIKE.TG has been positioned as a Leader and is recognized in the report for market understanding, product offering strategy, and sales execution pricing.Today more than ever, third parties are key partners in business success. Enterprises continue to increase reliance on third parties to help accelerate innovation, digital transformation, and growth. But this greater reliance on third parties exposes organizations to higher risk, so a third-party’s risk and compliance posture becomes more important than ever to your own risk posture, resilience, and reputation.LIKE.TG® Vendor Risk Management (VRM) transforms the way organizations manage risks associated with these changes by instituting a standardized and transparent process to manage the lifecycle for risk assessments, due diligence, and risk response with third parties, such as business partners and vendors. We believe the following are the key LIKE.TG VRM capabilities Seamless integration with IRM solution suite
Integration between LIKE.TG product with all information essentially in one place
Industry-specific regulatory content
Global network of sales and Support centers
Pricing inclusive of maintenance, hosting and licensing, with no additional cost
Many organizations haven’t fully thought through the implications of risks associated with the new ways of operating and expanded use of digital services, creating a daunting landscape for understanding and reducing third-party risk. We believe our VRM solution helps prepare organizations to adopt new vendors, services, and supply chains with confidence and build resilience into their operating model.According to Gartner, “The market for IT VRM tools continues to evolve and mature. Vendors are providing more automation within their tools through machine learning and natural language processing (NLP); a focus on environmental, social, and governance (ESG) demands; and an increased appreciation for third-party risk, particularly in a post-pandemic world. Regulatory guidance and newer privacy and data breach notification regulations in many industries have made IT VRM an essential requirement.”1Key benefits VRM capabilities delivered through the Now Platform® include:
Increased employee and vendor efficiency by automating assessments, response to issues, and risk scoring to focus efforts where they are needed most.
Improved resilience and risk posture by continuous monitoring at scale to validate compliance and manage risks.
Integration across the enterprise by embedding vendor risk activities into business workflows and integrating it with enterprise and operational risk programs on a single, cloud-based platform.
LIKE.TG VRM integrates seamlessly with our other risk products and is built on the Now Platform to enable organizations to integrate third-party risk with performance and enterprise risk, creating value for our customers. The Now Platform features role-based workspaces that enable users to perform day-to-day activities more easily with issues, tasks, and quick links all in one place. LIKE.TG is uniquely positioned among cloud vendors, offering comprehensive third-party risk management capabilities that are tightly integrated with and embedded across the enterprise.We’re proud to be recognized by Gartner as a Leader in the 2021 Magic Quadrant for IT VRM Tools and excited to help your enterprise build a strong supplier resilience program. See for yourself. This report is an invaluable tool for those seeking an unbiased, third-party evaluation of vendors as supplier resilience and third-party risk management become increasingly essential to the success of your business.Check out the 2021 Gartner Magic Quadrant for IT Vendor Risk Management ToolsLearn more about LIKE.TG Vendor Risk Management.1Gartner, Magic Quadrant for IT Vendor Risk Management Tools, Joanne Spencer, Edward Weinstein and Luke Ellery, August 30, 2021.Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. (This will be soon updated in our Policy as well)This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Gartner.
Announcing an integrated solution to activate ESG across the enterprise
Over the past decade, the world has experienced remarkable changes and unprecedented challenges. Every year sees a sharp increase in natural disasters driven by a global rise in carbon emissions, according to the World Meteorological Organization. Mass protests have underscored the need for a more inclusive society and workplace. The pandemic has highlighted the importance of business continuity.As global citizens, we have the responsibility to leave the world better than we found it. As business leaders, we have the responsibility to our customers and stakeholders to showcase our commitment to sustainability, diversity, and resilience: to tackle big environmental, social, and business challenges as a community.That’s why I’m leading our environmental, social, and governance (ESG) work at LIKE.TG in earnest, and why I’m passionate about what’s ahead for us all. LIKE.TG is releasing a new integrated solution that empowers companies to activate ESG initiatives and activities across the enterprise. The time is now to workflow a better world.An urgent needDespite the pressing need to address sustainability, environmental, and social issues at the enterprise level, companies lack an enterprise-wide platform for ESG. There are hundreds of tools and products on the market that help companies manage individual aspects of their ESG efforts, but currently available technology products support discrete, disconnected ESG efforts—only compounding matters.This is a problem. I firmly believe we work better when we can communicate, connect, and make quick, informed business decisions. Something as crucial as ESG efforts shouldn’t be as manual, isolated, and cumbersome as they are.Customers and stakeholders understand this too and expect businesses to keep up and exceed regulatory criteria for ESG. But doing so isn’t easy. Regulations continue to evolve. More than 170 proposed ESG regulatory measures have emerged in the past three years alone, according to FT Adviser. Companies urgently need a platform approach that enables them to keep up with and respond to changing requirements.And it’s not just about regulations. It’s about building stakeholder trust. Companies are prioritizing ESG commitments, actions, and investments to contribute to a more sustainable, equitable, and ethical world and create long-term value for all stakeholders. Our future hangs in the balance. As business leaders, it’s our responsibility to step up and meet this challenge.Making the world work betterAt LIKE.TG, we have big dreams, and we have the technology to realize those dreams. Our goal is to give companies the building blocks they need to meet some of the greatest challenges of our time.We’re bringing together the Now Platform® with new and existing products and our partner ecosystem to enable companies to make a positive impact on the world. Our integrated solution aims to build transparency, enable efficient and scalable business operations, and help companies innovate products and services to improve their sustainability efforts.
The new solution announced today is crucial infrastructure to digitize and transform ESG strategy, management, governance, and reporting into a smooth-running operational system. This modular solution will help organizations mature and enhance their ESG programs for higher impact with greater efficiency. The solution unites:LIKE.TG ESG Management and Reporting
I’m a strong proponent of transparency, especially when it comes to something as critical as building ESG initiatives. We can’t fight climate change or build a more inclusive and resilient workplace without establishing targets for progress.This organically built solution enables companies to establish goals and key performance indicators, track their progress, collect and audit data, and create disclosures aligned with major ESG reporting frameworks. A single source of truth simplifies collection, maintenance, and sharing of critical ESG data.
LIKE.TG Project and Portfolio Management
The ESG effort is a multi-year, enterprise-wide journey, so creating a plan and managing it will take structure, milestones, and flexibility. This operational backbone solution helps companies align strategy with an ongoing execution roadmap of projects and programs. Businesses can easily keep track of performance against strategies, objectives, budgeting, costs, resources, investments, and results.
LIKE.TG Integrated Risk Management
ESG has many different policies, regulations, and stakeholders, with more coming. This solution delivers the key governance capabilities companies need, including continuous control and risk monitoring and audit support, as well as options such as advanced risk assessments, AI, audits, privacy, and automation. The platform provides a real-time view of ESG compliance and risk to help business leaders navigate decision-making and business performance.
Integrations with ESG workflows
This solution provides an operational layer that collects metrics and monitors workflows built on LIKE.TG® products such as Business Continuity Management, Vendor Risk Management, Security Operations, Hardware Asset Management, and Safe Workplace Apps.
We can’t tackle big environmental, social, and business challenges alone. In addition to providing these new solutions, LIKE.TG is working closely with our partner and developer ecosystem to address ESG challenges in creative ways. For example, we’re working with KPMG to build new ESG workflows to further extend the capabilities of the Now Platform.Using the Now Platform and our low-code app development tools, our partners and customers can create new workflows that serve the unique requirements of industries and geographies, address specific material issues, and extend ESG initiatives beyond the enterprise to the supply chain.Let’s workflow a better futureOur commitment to ESG doesn’t stop there. LIKE.TG is implementing our own ESG solution across the enterprise, and we’ll report on our progress in our next Global Impact Report in the spring of 2022.I’m confident that with science, technology, and community on our side, we can tackle the most significant problems of our time. Together, we can workflow a better future and a brighter world for all.Learn more about how to workflow your ESG program.Use of forward‑looking statementsThis blog contains “forward‑looking statements” about the expectations, beliefs, plans, intentions and strategies relating to LIKE.TG’s integrated ESG solution and related products. Such forward‑looking statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward‑looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward‑looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward‑looking statements we make. We undertake no obligation, and do not intend, to update the forward‑looking statements. Factors that may cause actual results to differ materially from those in any forward‑looking statements include, without limitation, (i) changes in the ESG regulatory landscape; and (ii) unexpected delays, difficulties, and expenses in making available the ESG solution or executing this strategy. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.
Integrating SOAR and MITRE ATT&CK framework to help SecOps take flight
Old news: The pandemic changed the world. New news: Security operations still need to act as if the crisis continues. Here's why.Prior to the pandemic, organizations around the world were already moving forward with digital transformation. COVID-19 forced enterprises to scale like never before—adding public cloud services, new network devices, remote workers, and software as a service (SaaS) applications. This left security operations scrambling to keep pace because, unsurprisingly, a growing attack surface means growing cyberthreats.MITRE ATTCK framework for stronger securityOrganizations often rely too much on point tools and manual processes. In addition, they often face a shortage of advanced security skills in areas such as threat intelligence analysis and incident response. Between alert fatigue, manual processes, and an ever-growing list of cyberthreats, it can be nearly impossible for security operations center (SOC) teams to stay on top of everything.Many organizations have adopted security orchestration, automation, and response (SOAR) technology to help them face today’s security issues head-on. When SOAR is coupled with the MITRE ATTCK framework, SOC teams have the means to proactively:
Drive fast security response.
Prioritize threats by business context.
Automate required actions to triage and remediate incidents quickly.
The MITRE ATTCK framework also gives organizations an adversarial perspective on their defenses, showing how adversaries would act against them in a concerted, targeted attack.Improving security operationsAlthough many security tools provide basic MITRE ATTCK support, SOC teams often find it hard to operationalize the framework into processes for incident detection and security engineering, along with threat hunting and response.In fact, 63% of organizations believe security operations are more difficult today than they were only two years ago, according to ESG research. With the increasingly dangerous threat landscape, the volume of security data needed for analysis, and an overwhelming number of security alerts to be triaged, prioritized, investigated, and acted upon, it’s easy to see how an already complex numbers game is turning into a security management nightmare.LIKE.TG is committed to tight integration between its SOAR platform (Security Incident Response) and the MITRE ATTCK framework. In this way, we can not only operationalize MITRE ATTCK and automate processes, but also help organizations improve the efficacy and efficiency of security operations in areas such as:
Incident detection
Assessment and engineering
Cyberthreat intelligence analysis
Adversary emulation
Now is the time to consider integrating SOAR technology and the MITRE ATTCK framework into your daily security operations. Read the ESG white paper, Using LIKE.TG SOAR to Operationalize MITRE ATTCK, to learn why the time is right, what benefits your business can gain, and how you can operationalize the MITRE ATTCK framework to make the most of your SOAR technology.
Are you managing operational risk with a teenage brain?
Let’s be honest, none of us is proud of the way our minds worked—or didn’t work—when we were teens. If you are or have been the parent of a teen, you know the struggle: The frontal lobe is still developing in the teen years, and it’s difficult to make consistently good decisions, especially when there’s information overload from multiple sources and a lack of experience to know what’s valid.Likewise, two-way communication is a challenge because teenagers often keep things to themselves; after all, their parents make “a big deal” out of everything. Teen brains also tend to ignore or downplay risks, thinking they’re invulnerable. And even though teens claim to know everything, they lack the confidence that will come from years of self-awareness.It sounds a lot like enterprise operational risk management.Lack of maturity = lack of integrationIn the Modernizing operational risk management survey report from nonprofit think tank OCEG, we learn there’s a range of operational risk management maturity levels based on how well organizations integrate processes and operations with the supporting tools/technologies. Based on the responses from the risk managers at the organizations surveyed, there’s a lot of room for maturity:
Only 17% use a common platform to bring systems together with operational data from the business.
As many as 44% use multiple, often siloed technologies with little integration of data and processes.
An alarming 38% of respondents still use ad hoc productivity tools in operations that are mostly manual and siloed.
Less mature organizations are still struggling with:
Information overload: More than 65% indicate they must pull risk-related data from 20 or more sources, with 21% of them using more than 100 sources.
Inconsistency: 37% say an absence of repeatable processes is an impediment to performing risk assessments.
Communication struggles: 35% find it difficult to get attention of front-line managers to gather information, 45% say the response from these managers is slow, and 33% don’t believe in the accuracy of responses.
Lack of confidence: Only about 30% feel assured they can provide timely, clear, and useful information to key stakeholders, due mainly to the disconnected data sources.
Downplaying of risks: Only 30% believe the workforce understands the importance of managing risk, while 41% say risk/compliance is scoffed at as a drain on time and resources.
That should all sound familiar if you’ve ever raised—or been—a teenager.
What risk management maturity looks likeThe brain matures, thank goodness. By the time we’re in our early 20s, our ability to process information and think rationally improves. We also tend to gain communication skills and the confidence that comes with life experience. And we develop an aversion to risk for self-preservation. It’s all essential for “adulting.”Equally, maturity matters a lot in operational risk management. According to the OCEG report, “Organizations with more mature operational risk capabilities report greater application of best practices, leading to stronger confidence about risk identification and assessment. They have a broader and more accurate view of risk information and more consistency in application of assessment methodologies.”Bringing systems together for essential dataOne such best practice of a highly mature organization, the report notes, is the use of a common management platform—such as the Now Platform—that brings systems together to generate the data needed to identify, assess, and document risk. This integration of systems is way more prevalent among mature organizations than it is in immature ones.It’s no surprise that a common platform gives organizations more confidence that they’re providing accurate, timely information to demanding stakeholders. Among mature organizations, about 50% say the workforce understands the importance of managing risk.Head in the clouds, feet on the groundSure, telling teens to get their heads out of the clouds is good advice, but in the context of operational risk management, being in the clouds is a good thing. According to OCEG, organizations with cloud-based platforms are doing better overall—with greater agility and confidence in process communications than immature organizations.One major differentiator: 58% of these organizations maintain data in a central repository to provide a “golden copy” to the business versus 34% that can’t.The good news is 80% of OCEG survey respondents say they’re either already operating on cloud-based platforms for their operational risk management data needs or plan to in the next few years.Building maturity takes consistent leadershipOrganizations should commit resources and leadership to “develop mature processes and implement technology to support those processes,” concludes the OCEG report. In other words, it's time to stop managing operational risk with a teenage brain.Read the complete OCEG report.
Activating ESG strategies and initiatives to improve business and the world
Around the world, more organizations are championing environmental, social, and governance (ESG) initiatives to help create a more sustainable, equitable, and ethical world, build stakeholder trust, and drive ESG impact and business value. There’s a good reason: ESG drives better business outcomes—and it makes the world better.For many, meeting ESG goals is a challenge. That’s because ESG spans a lot of different types of activities across the enterprise. Creating the clarity and governance to go from goals to reality is extremely difficult.Departments within an enterprise often use discrete tools to generate different types of ESG data and unique systems to manage specific ESG programs. In addition, the evolving regulatory landscape makes it incredibly challenging for companies to keep up with the changing global reporting requirements of their ESG progress.As a result, companies up until now have had to navigate siloed, disconnected processes that can result in poor visibility, governance, management, and reporting of ESG programs across the enterprise.Introducing a new, integrated solutionLIKE.TG is committed to helping our customers positively impact their business, society, and the planet. That's why we’re releasing a new integrated ESG solution that will enable companies to strategize, manage, govern, and report on all their ESG goals and activities—while providing complete transparency and control across these efforts.Our ESG solution delivers an operational “control tower” to help bring companies’ ESG goals to life. The integrated solution brings together three unique products:
Newly introduced LIKE.TG® ESG Management and Reporting enables companies to document material topics, establish goals and key performance indicators (KPIs), track performance, collect and validate audit-ready data, and create disclosures that align with major ESG reporting frameworks.
LIKE.TG Project and Portfolio Management helps build and maintain a company’s ESG roadmap, including strategy, planning, and budgeting tools—plus ongoing tracking of costs, resources, and results. Companies gain visibility into their ESG investments and improve the scale and impact of their ESG efforts.
LIKE.TG Integrated Risk Management provides core governance capabilities plus advanced risk assessments, continuous monitoring, AI, audits, privacy, automation, and more. It integrates ESG considerations and data into effective enterprise-wide risk and compliance management with a real-time view of ESG compliance and risk, as well as rich analytics that improve decision-making and business performance.
Harnessing the power of the Now Platform®, our solution seamlessly integrates with purpose-built ESG workflows by LIKE.TG, our customers and partners, and other third parties. We believe this will enable firms to significantly improve their impact across business, social, and environmental issues.
The importance of ESGThis release reflects the growing importance of ESG initiatives across the enterprise and society. Today, nearly 60% of European organizations incorporate sustainability in their requests for proposal, according to a Channel Futures article. On the consumer side, people are four times more likely to trust and buy from companies that have a strong purpose versus those that don’t, Zeno Group reports.Likewise, around the world, governments are accelerating their oversight of firms’ ESG efforts, creating new implications for risk and compliance departments.For example, more than 170 proposed ESG regulatory measures have emerged since 2018, according to FT Adviser. This includes Germany’s Supply Chain Due Diligence Act, which goes into effect in 2023 and will require companies to audit their supply chains to ensure they protect human rights and the environment, reports the US Library of Congress. This kind of regulation introduces new imperatives to develop company-wide ESG measurement and reporting systems.Meanwhile, earlier this year, the European Union announced new “right to repair” laws that require electronics manufacturers to make their products repairable for at least a decade after they’re introduced, Euronews reports. These regulations—and the many others across diversity and inclusion, emissions, and even data privacy—will have an increasing number of implications for firms everywhere.Toward a better worldAt LIKE.TG, we believe we’re uniquely positioned to help our customers in these efforts because the Now Platform already touches all parts of their business. In conversations with our customers, we hear time and again about the pain points preventing them from implementing their ESG strategies.While many firms have ambitious corporate ESG goals, such as reaching net-zero greenhouse gas emissions, many struggle to achieve those goals and to track their progress. With our integrated ESG solution, we’re helping to convert customers’ big-picture efforts into concrete strategies and processes that they can measure against and report on.Further, to maximize the impact of this solution out of the gate, we’re working with partners across our developer program to create ESG workflows for specific industry use cases.I’m excited about the possibilities here. By helping our customers realize their ESG goals, we can, together, create a more sustainable, equitable, and ethical world. Let’s go!Learn more about how to workflow your ESG program.Use of forward‑looking statementsThis blog contains “forward‑looking statements” about the expectations, beliefs, plans, intentions and strategies relating to LIKE.TG’s integrated ESG solution and related products. Such forward‑looking statements include statements regarding future product capabilities and offerings and expected benefits to ServiceNow. Forward‑looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward‑looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward‑looking statements we make. We undertake no obligation, and do not intend, to update the forward‑looking statements. Factors that may cause actual results to differ materially from those in any forward‑looking statements include, without limitation, (i) changes in the ESG regulatory landscape; and (ii) unexpected delays, difficulties, and expenses in making available the ESG solution or executing this strategy. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.
Proactively managing risk and security
As a result of the COVID-19 pandemic, organizations have realized the importance of proactively managing risk and security to build resilience and to emerge from a crisis stronger. These best practices and tools can help you shift your risk management program into high gear.Staying ahead of cybercriminalsTaking a progressive, visionary approach to risk and security—such as with LIKE.TG workflows built on top of the Now Platform®—lets you direct resources where they deliver the greatest impact on your risk and security posture with the greatest efficiency.For instance, most organizations are working to take advantage of MITRE ATTCK® to operationalize their threat management and response practices. This framework for adversarial tactics, techniques, and procedures (TTPs) offers deep insights into an attacker’s actions on each attack to help security analysts stay ahead of cyber criminals.LIKE.TG® Security Incident Response includes integrated threat intelligence tools and automated workflows to accelerate this plan. The MITRE ATTCK knowledge base enables you to prioritize your security investments based on TTPs. After mapping a security incident to a MITRE tactic, security analysts use LIKE.TG ATTCK Navigator to create a roadmap for subsequent steps. A dashboard shows how your security approach fares against attacks.Integrating security operations into workflowsThe University of Southern California (USC), a research university with almost 80,000 people in its customer base, is mandated by the government to protect everything from student and personal information to research data.When USC assessed its security posture, it found that almost 30% of its IT security efforts were related to phishing. Already using LIKE.TG ITSM, USC integrated LIKE.TG Security Operations into the Now Platform to improve insight into the university's security posture and processes.Since the integration, USC has saved at least 40 hours a week, allowing the equivalent of one full-time employee's time each week to be redirected to other investigations.Leveraging a common data model and platformBupa Australia and New Zealand, a global healthcare insurance provider that serves more than 32 million customers across 190 countries, also found great value in adding security operations workflows onto its LIKE.TG implementation. When the organization wanted to improve visibility and control of its security practices, it chose the LIKE.TG Vulnerability Response and Security Incident Response products.“We already had a number of LIKE.TG modules within our environment, namely ITSM and CMDB,” says Jonathan Milton, Bupa’s head of cybersecurity. “But when you get that integration, that’s where you get that exponential value.”The value Bupa found was improved ability to protect not only customer data, but also service delivery, enabling its security and IT teams to address the right risks, in the right order.Boosting operational resilienceBolstering your security posture is only part of the equation. The other part is strengthening your business resilience as disruptions can impact your brand and reputation. LIKE.TG has identified four pillars for achieving resilience:
Technology and data
Employees and customers
Facilities and their safety and compliance
Third parties
The Now Platform protects all four pillars.Fast time to risk management valueWhen a healthcare organization that operates a dozen hospitals wanted to strengthen its risk management, it partnered with cybersecurity and risk management services organization Edgile. Edgile got LIKE.TG Vendor Risk Management and Integrated Risk Management workflows up and running in only 12 weeks. The new solution dramatically improved quality consistency for the healthcare organization.Learn more about how your organization can proactively manage risk and security in our Risk and Security Workflows Book of Knowledge.
LIKE.TG: A Leader in Gartner® Magic Quadrant™ for IT Risk Management for Second Year
LIKE.TG is proud to be named a Leader, for the second consecutive year, in the Gartner 2021 Magic Quadrant for IT Risk Management (ITRM).1 We’re especially pleased that our ability to execute has been recognized with the highest rating of all vendors evaluated.Gartner also named LIKE.TG a Leader in the August 2021 IT Vendor Risk Management Tools. Together, we believe these recognitions validate our leadership in helping businesses successfully navigate a challenging landscape, build resilience, and manage risk.Making risk management part of every dayIT departments have been tasked with planning for and mitigating risks that have become increasingly urgent due to the shifts spurred by COVID-19—including cybersecurity threats, concerns about productivity and remote work, and new regulations.Through our unified platform, continuous monitoring, and automation, LIKE.TG seamlessly embeds risk management and compliance into employees’ daily workflows and familiar user experiences. With this deep connection, organizations can gain:
A real-time view of risk and compliance
Improved risk-based decision-making
Increased business performance
Effective communication with stakeholders at all levels
LIKE.TG connects the business, security, and IT with an integrated risk framework that transforms manual, siloed, and unfamiliar processes into a user-friendly, unified program built on a single platform.Innovating the user experienceThe recognitions in the Gartner report are based on the technology available in the market in early spring. Because our customers count on us to make the world of work better for employees and stakeholders, we’re raising the bar even higher. We’re pushing the boundaries with our innovations.For example, we’ve made several acquisitions during 2021 to enhance our overall AI capabilities. These acquisitions provide not only valuable capabilities that can be used across our platform, but also in-house expertise we can use to build future innovations. Furthermore, we’ve reinvented the user experience and have debuted these enhancements in the Rome release.Finally, integration of risk and compliance into the broader Now Platform® and partner solutions continues to engage front-line employees and produce a more accurate picture of risk for the second and third line.See for yourself what Gartner has to say about LIKE.TG risk and compliance in the complimentary Magic Quadrant for IT Risk Management report. It’s an invaluable tool for those seeking an unbiased, third‑party evaluation of vendors as resilience, risk management, and agility become essential for business.1 Gartner Magic Quadrant for IT Risk Management, Brent Predovich, Claude Mandy, September 13, 2021.Gartner does not endorse any vendor, product, or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.Gartner and Magic Quadrant are registered trademarks of Gartner Inc. and/or its affiliates in the US and internationally and are used herein with permission. All rights reserved.
LIKE.TG commits to net-zero greenhouse gas emissions by 2030
Updated Jan. 21, 2022The climate crisis is here. It’s no surprise the Intergovernmental Panel on Climate Change (IPCC) acknowledged in its 2021 climate report that climate change is already affecting every region on Earth in multiple ways.We’ve seen it for ourselves. From deadly heat waves to droughts and another season of wildfires, one doesn’t have to look too far. In fact, the 10 warmest years on record have occurred since 2005. If we fail to act urgently, there could be catastrophic global consequences.LIKE.TG has activated an ambitious plan to help protect our environment, and it’s why I’m leading our environmental, social, and governance (ESG) work in earnest. I want to leave a better and thriving planet for my children and future generations.It’s been said (and I agree) that we’re the first generation to feel the negative impact of climate change, and we’re the last generation able to do anything about it. The world needs our action now.The future is net zeroWhen we published our Global Impact Report in 2021, we announced our goal of achieving net-zero greenhouse gas (GHG) emissions before 2050 across our entire value chain in accordance with the Science-Based Targets Initiative (SBTi).Although we’re early in our global impact journey, we know we need to act with a sense of urgency. That’s why we set out to understand where we have the most significant opportunity to reduce our carbon footprint so we can accelerate our impact and create lasting, long-term business practices that are more sustainable.Through a third-party assessment with Watershed in July 2021, which evaluated the company’s entire corporate carbon footprint, LIKE.TG identified that 93% of our carbon footprint comes solely from our value chain (Scope 3) emissions.Click the image below to see an infographic about our commitment to driving decarbonization.Accessibility note: The infographic is transcribed at the end of this blog.
In recognition of Climate Week 2021, we announced our commitment to achieve net-zero greenhouse gas (GHG) emissions by 2030—two decades earlier than we had anticipated.By setting science-based targets focused on internal reduction programs and supplier engagement initiatives, LIKE.TG has established a timeline 20 years ahead of the Paris Agreement—and we're pleased to report our targets have been approved by the SBTi.Real change takes all of usWe know our impact is stronger when efforts are collaborative. That’s why we’ve joined the Business Ambition for 1.5° C global net-zero campaign led by the SBTi in partnership with the UN Global Compact and the We Mean Business coalition—to take ambitious climate action in partnership with UN agencies, businesses, and industry leaders.We will achieve net-zero GHG emissions across LIKE.TG’s entire value chain by 2030 by further committing to:
Reduce Scope 1 2 GHG emissions by 70% by 2026 from a 2019 base year. This is aligned with science-based targets promoted by the SBTi and what's deemed necessary to meet the stretch goal of the Paris Agreement to limit global warming to 1.5°C.
Reduce Scope 3 GHG emissions from business travel and employee commuting by 40% per unit of value added1 by 2026 from a 2019 base year.
Persuade 65% of our suppliers by spend, covering purchased goods and services and capital goods, to have science-based targets by 2026.
LIKE.TG will embed sustainability initiatives across its datacenter programs, such as supporting datacenter operations teams globally to become Certified Data Center Sustainability Professionals (CDCSP®). Achievement of this certification ensures LIKE.TG operators understand the steps required to keep the long-term sustainability of the company’s datacenters.As we transition to finance carbon removals on our jouney to net zero, LIKE.TG will continue to finance high-quality carbon offsets (verified emissions reductions) with a portfolio approach in an initial partnership with Everland. Everland represents the world’s largest portfolio of high-impact forest conservation (REDD+) projects that protect wildlife and enhance the well-being of forest communities, which are essential to addressing climate change and biodiversity crises.LIKE.TG will support the Mai Ndombe REDD+ Project to protect 740,000 acres of critical bonobo and forest elephant habitat within the Congo Basin.As part of LIKE.TG’s ongoing commitment to sustaining our planet, we’ve also pledged to donate $1 million by the end of 2022 to nonprofit organizations focused on addressing climate change and the acceleration of decarbonization globally.Positive impact is within our graspOur aspirations are high, and our plans are big. I’m optimistic about our future because our assessment gave us the data and insights to drive more effective and sustainable change. It’s in our LIKE.TG DNA to examine processes and workflows to determine the most efficient and effective paths from A to B.As we look to becoming the defining enterprise software company of the 21st century, it’s our mission to help “workflow a better world”—one that’s more sustainable, more equitable, and more ethical. I couldn’t be prouder of the work we’re doing.Learn more about our commitment to making a positive global impact.Transcript of infographicCommitted to driving decarbonizationWe'll workflow a better world by addressing climate change, empowering our employees and communities to create more inclusive opportunities for everyone, and building trust and partnership with our stakeholders. We set the following goals:
Set science-based targets
Net zero by 2030
Our footprint in scopes*With only 7% of our GHG emissions coming from direct operations at our offices and datacenters (scope 1 2), 93% of our footprint is from our scope 3 emissions (purchased goods and services, capital goods, business travel, employee commuting, fuel and energy-related activities, and waste).Our corporate carbon footprint*Understanding our carbon footprint (total of scope 1, 2 3) is the first important step on our journey to net zero and setting ambitious science-based reduction targets.
Datacenters 31%
Goods and services 19%
Offices 18%
Marketing 12%
Employees 10%
Travel 10%
* All data for 2019 baseline year1 Value added: gross profit = total revenue - cost of revenuesUse of forward-looking statementsThis blog contains “forward-looking statements” about the expectations, beliefs, plans, intentions, and strategies relating to LIKE.TG’s global impact vision. Such forward-looking statements include statements regarding LIKE.TG’s Net Zero GHG goal and other climate change and decarbonization efforts and commitments. Forward‑looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward‑looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward‑looking statements we make. We undertake no obligation, and do not intend, to update the forward‑looking statements. Factors that may cause actual results to differ materially from those in any forward-looking statements include, without limitation, changes in global economic and climate conditions; changes in the environmental and climate-related regulatory landscapes; and unexpected delays, difficulties, and expenses in executing against the goals and commitments announced herein. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.
Why LIKE.TG is investing in our European customers
At LIKE.TG, our people show up every day driven by a core set of values aligned to a single mission: Inspire our customers to workflow any challenge. This includes helping our customers be successful as they operate within a complex and dynamic regulatory landscape.European regulatory challengesMany of our European Union (EU) customers are navigating significant changes in the legal and regulatory landscape, arising from the:
Schrems II decision of the Court of Justice of the European Union in July 2020
New standard contractual clauses from the European Commission
Related European Data Protection Board (EDPB) Recommendations of June 21, 2021
As a result, customers are increasingly looking to us to provide simple solutions to help them evolve and scale with comfort on their regulatory compliance.This is where cloud services companies have a choice: Adopt a “wait and see” approach or get proactive and help customers continue to innovate. At LIKE.TG, we always choose the latter, continually investing in our customers.LIKE.TG is making a multimillion euro investment, including adding more than 80 new roles across the EU, so organizations can enjoy the highest level of comfort and control over the handling of their personal data here.From early 2022, we will be launching an EU, cloud-based digital workflow solution to help ensure customer instance data does not leave the EU. This means customers who choose to be hosted in our EU data centers will also now have the option for the data within their instance to be solely handled within the EU.3 reasons we’re doing this1. To remove potential headaches for customersWe know working with cloud service providers requires an element of trust—that we uphold the highest standards of privacy and security when managing their data. When regulations change, customers need to know their trust continues to be well placed and that they can continue to benefit from the best of the cloud without any upheaval.2. To support companies in achieving complianceAs a cloud services business, we pride ourselves on adhering to the highest regulatory standards possible, as well as keeping a close eye on developments that could impact the service we deliver to customers. Since the UK invoked Article 50 and, more recently, the Schrems II case and related EDPB Recommendations, we have flexibly adjusted to the changing landscape, reviewing updates and planning for likely eventualities, including this one.3. To enable innovation among our customersWe know digital transformation is not possible without the cloud and, in turn, this is not possible without the confidence that data is being managed in the cloud in line with privacy and security standards. Giving customers more options to help them achieve the level of privacy control they feel comfortable with means they can take even greater advantage of cloud services when looking to transform their business.Our customers rely on us to help them deliver reliable services to their own customers and employees. We will continue to invest in their success in meaningful ways that matter to their business. Today's update is another step in that direction. As the regulatory environment continues to evolve, we will not sit back and wait for news—we’re committed to proactively fine-tuning and updating the services we offer so that customers can continue to enjoy peace of mind when relying on ServiceNow.Learn more ways we safeguard your data.Use of forward‑looking statementsThis blog contains “forward‑looking statements” about the expectations, beliefs, plans, and intentions relating to LIKE.TG’s new service delivery developments and additional investment in its EU business. Such forward‑looking statements include statements regarding expected performance and benefits of such investment and new service delivery model. Forward‑looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward‑looking statements. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward‑looking statements we make. We undertake no obligation, and do not intend, to update the forward‑looking statements. Factors that may cause actual results to differ materially from those in any forward‑looking statements include: (i) delays and unexpected difficulties and expenses in executing this strategy; (ii) uncertainty as to whether sales will justify this investment; and (iii) changes in the regulatory, competitive, and data privacy and security landscape in the EU. Further information on factors that could affect our financial and other results is included in the filings we make with the Securities and Exchange Commission from time to time.
The fruits of business resilience
Business disruption can happen any time, especially when you least expect it. That’s why it’s critical to have a business resilience plan in place.“We define organizational resilience as the ability to maintain performance in the face of environmental, political, social, cyber, and other disruptions,” explains LIKE.TG Chief Financial Officer Gina Mastantuono in the Workflow Quarterly Fall 2021 issue.The issue details research by LIKE.TG and ESI ThoughtLab that highlights the need for a resilience strategy in the wake of the COVID-19 crisis: Only 26% of US, 21% of Asia-Pacific, and 15% of European organizations ranked as resilience leaders, meaning they’ve taken 12 to 24 steps toward resilience maturity.The majority of organizations across regions fall in the intermediate range, having taken six to 11 steps toward resilience maturity. Clearly, there’s still a lot of work to be done.The benefits of business resilienceOrganizations are implementing measures to bolster their resilience stance to reap such benefits as:
Greater revenue or sales
Reduced costs and greater efficiencies
Better planning and decision-making
Increased customer satisfaction and retention
Improved health and safety
Half of the 1,080 senior business leader survey respondents are working to modernize their IT platforms and improve communications (see Figure 1). Others are focusing on resilience training and managing privacy risks.
Figure 1: Top steps being taken to improve resilience and manage risks now; source: ESI ThoughtLabReturns vs. usagePart of the hesitance in fully embracing a resilience strategy is uncertain return on investment. Organizations have to weigh investments in resilience efforts against potential outcomes and realized value. For example, although more than half (55%) of organizations are reaping returns from deploying tools that help them understand resilience, only 23% have deployed such tools (see Figure 2).Similar gaps occur in other areas, the biggest of which is managing third-party risks: Half of survey respondents see the value of doing this, but only 15% have taken steps toward doing so. “What’s really needed is a high-level framework that focuses foremost on business resilience,” notes Tom Campanile, a partner at Ernst Young, in reference to risk management.
Figure 2: Top resilience steps generating value vs. % taking steps; source: ESI ThoughtLabFollow the leaderPerhaps the best approach toward a more robust resilience posture is following what resilience leaders are doing:
Build resilience plans early—This makes them less costly and more effective.
Design for resilience—This will enable better performance.
Embrace digital technology and solutions—This will help drive resilience.
Assess critical business processes—Doing so will provide insight into how risks affect them.
As organizations become more resilient, their benefits increase. Having a management team that’s committed to boosting resilience is key.Take a four-question quiz to assess the resilience of your organization. Get more insights into the importance and benefits of business resilience in the Workflow Quarterly Resilience issue.To stay abreast of emerging tech and business trends, subscribe to the Workflow newsletter.
Bringing the SaaS ecosystem together to improve cybersecurity
In today’s digital environment, no company is immune to cyberattacks. In fact, more than one-third of organizations worldwide have experienced a ransomware attack or breach that blocked access to systems or data, according to IDC.1From the Capital One incident to the SolarWinds attack, businesses and organizations of all facets and sizes are at the forefront of such threats.As a leading software enterprise company, we have the responsibility to prepare and mitigate risks with customers in mind. At LIKE.TG, cybersecurity begins with trust and transparency. It’s a collective effort spanning our organization and those we work with.Setting sights on SaaS securityCritical software as a service (SaaS) providers deliver essential services that a vast array of critical infrastructure operators rely on for core operations.Recognizing the gap and need for an industry-wide initiative to address increasing cybersecurity concerns, LIKE.TG is co-founding a Critical SaaS – Special Interest Group (CSaaS-SIG) operating under the framework of the Information Technology-Information Sharing and Analysis Center (IT-ISAC).As a founding member of the software enterprise industry’s first coalition to reduce cyber risk, we’re taking key steps to share best practices in assisting with a secure cloud infrastructure. Alongside Zscaler, Guidewire, Okta, Workday, Oracle, and MongoDB, LIKE.TG is coordinating the development of enhanced defense tools and mechanisms to offer improved security across the SaaS cloud industry.The coalition aligns with the White House’s May 2021 executive order aimed at developing public and private sectors’ security and operational resilience and improving the nation’s cybersecurity.
Shared benefits of collaborationWhile enterprise businesses compete in the marketplace, we share a common goal of advancing security in the industry. Transparent information exchange is a critical piece of this initiative. SaaS customers will benefit from a shared framework that, in turn, instills confidence and trust throughout the ecosystem.Ben de Bont, LIKE.TG chief information security officer, emphasizes the importance of organizations and governments collaborating to combat cybersecurity threats in the SaaS community.“Critical SaaS is part of broader effort to engage with public and private sectors,” he says. “At the end of the day, our reputation depends on it. Our customers rely on us to provide a highly secure cloud environment for their mission-critical services and their data, and we’re committed to delivering the security they demand. That’s why collaborative initiatives such as the CSaaS-SIG will drive real operational value for LIKE.TG and the software as a service industry at large.”Learn more about the CSaaS-SIG and membership.Find out how LIKE.TG helps organizations improve cybersecurity.1 IDC's 2021 Ransomware Study: Where You Are Matters!, Doc # US48093721, July 2021
4 ways automation can improve your security posture
Security is top of mind for many organizations—and for good reason. Recovering from a data breach is extremely costly. In fact, the average data breach costs more than $8.6 million in the US.One of the best ways to defend against cyberthreats is by adopting and implementing security automation. According to a Ponemon Institute study, there’s a significant difference—84%—between the cost of a breach for organizations that have deployed security automation ($2.9 million) and those that haven’t ($6.7 million).Automated security operations can help you prioritize and respond to threats fast. Taking it a step further with artificial intelligence (AI) can help optimize security efforts by rapidly identifying and triaging threats, freeing workers to focus on more complex tasks.Let’s look at four ways automation can improve your security stance:1. Minimize risk and downtimeIn today’s highly competitive marketplace, downtime can mean lost customers. What if you could increase your business resilience against attacks to sustain uptime?Learn the benefits of automating data management workflows in our Automated security incident response webinar. Karl Klaessig, director of product marketing for Security Operations at LIKE.TG, and Chris Derton, a sales engineering manager for data security company Rubrik, discuss ways to simplify virtual machine management with a single service-level agreement (SLA) policy engine.2. Harden your attack surfaceDigital transformation and cloud computing have greatly expanded the attack surface, putting organizations at greater risk of cyberthreats. Protecting that attack surface requires intelligent prioritization and open communication.Watch our Using automation to harden your expanding attack surface webinar to learn how to rein in the expanse and work more efficiently. Three LIKE.TG experts share practical tactics to help you work smarter and keep from getting overwhelmed.3. Spotlight vulnerabilitiesCybercriminals will go to many lengths to wreak havoc on organizations. You need to stay ahead of their moves. To do that, you need insight into the ways they think.Gain an understanding of attackers’ decisions and operations in our Security automation and adversarial insights webinar. You’ll also learn how automation can help you respond rapidly to new threats.4. Enable continuous monitoringYour risk management framework (RMF) shouldn’t be rigid or narrowly focused. For the best security posture, you need integrated risk management and continuous authorization and monitoring. This combination can help improve both efficiency and visibility. Learn how in our Transforming RMF automation webinar.
How operating excellence is redefining enterprise success
For years, enterprises have defined success by higher earnings, bigger market share, or the launch of a new product or service. Lately, however, success has been redefined to encompass much more. For example, organizations are also being evaluated on the success of their operations.Executive leaders are under pressure to:
Reduce costs and run their enterprise service operations efficiently
Communicate to stakeholders a commitment to environmental, social, and governance (ESG) initiatives
Demonstrate to shareholders that the organization is resilient
Operate their business efficiently and at scale
Operations have always been the lifeblood of the business. But now, employees, shareholders, customers, and other stakeholders want proof that operations are being managed to achieve a more responsible, effective, and transparent enterprise.Different table stakesWith new market forces, ways of delivering, and challenges arising regularly, operations leaders are rethinking how enterprise operations are organized and managed. The table stakes have changed.
If a company isn’t operating efficiently, its competitor can gain the advantage.
If a business isn’t managing risk effectively, a cyberattack can put it in the spotlight for all the wrong reasons.
If an organization isn’t investing in ESG, organizations that do prioritize ESG can capitalize because customers see a commitment to sustainability as a competitive differentiator.
If an enterprise isn’t driving strategic outcomes, it will see others overtake it in the marketplace.
Until decision-makers can figure out a way for people to work better together, innovate, and mitigate risks within reasonable bounds, they often struggle to address any of these issues.
Enabling operating excellenceThe key to connecting all areas of the enterprise is to break down traditional, siloed enterprise operations where disparate departments—finance, HR, risk, legal, strategic planning—function independently from each other with their own goals, systems, and sets of metrics. Operating excellence requires establishing a common, foundational framework, connecting operational departments across the enterprise, and improving visibility.It may be difficult for a chief risk officer to understand how their goals relate to those of the chief human resources officer (CHRO) or the head of business services. But emerging C-level business initiatives clearly demonstrate how objectives in seemingly separate enterprise operations areas are, in fact, intertwined.For example, return-to-work initiatives are often managed by CHROs. To achieve their goals to attract and retain talent and keep workforces safe coming out of the pandemic, CHROs need to work cooperatively with counterparts managing corporate real estate and finance.They need to ensure enough systems and departments are connected to establish a baseline, so they can have visibility to understand all the work taking place across the enterprise to support the initiative. Without this baseline, it’s difficult to continuously improve or measure if commitments are being met.Where to startFor enterprises seeking operational success, it can be daunting to determine where to begin because it’s not a one-and-done effort. The first step is for C-level operations leaders to collaborate and have conversations about how their goals and objectives connect to those of other teams within operations to enable better enterprise agility.If a company has already embraced global business services (GBS), it makes sense to look to the head of GBS to help direct efforts. Their job is to look across the organization and work across departments to catalog services, analyze process workflows, and establish a framework to optimize services and operations through tools, technology, people, and processes.Then, this GBS framework can establish the baseline for operating excellence across the enterprise—connecting departments, empowering employees, and supporting continual innovation.Find out more about enabling the power of operating excellence. LIKE.TG offers solutions across GBS, risk, ESG, and strategic portfolio management to help.
3 ways to boost your company’s cybersecurity
Cybersecurity is on the mind of every business leader, and for good reason: The number of data breaches rose 24% between 2020 and 2021, according to global ThoughtLab research co-sponsored by ServiceNow.Organizations everywhere need advanced security programs to navigate today’s fluid threat landscape. Here are three ways to help do that:1. Create a frameworkCustomers are increasingly concerned about data security. Staying current on the latest privacy, governance, and security practices is crucial to assure stakeholders their data is safe.Learn practical steps to address privacy and data protection. In this webinar, cybersecurity experts from EY and BigID provide guidance to help organizations comply with new regulations and build trust with their customer base. The experts also share classification methods and recommendations for implementation.2. Address vulnerabilitiesRansomware is the main cause of breaches at 32% of organizations today, according to the ThoughtLab study. Ransomware attacks are expected to rise over the next two years to become the main cause of breaches for 40% of organizations.This puts customers at risk. Firms can no longer hope for security and plan a response once they’ve been attacked. They need to prepare for the worst before it happens.Watch our Combating ransomware webinar to ensure threats don’t go undetected. LIKE.TG ransomware experts join Krislyn McDonnell, senior product manager at Recorded Future, to discuss best steps to prepare for a worst-case scenario using LIKE.TG® Integrated Risk Management, Security Operations, and Recorded Future.3. Build a proactive security programAs one of the world’s leading software, consulting, and technology companies, NCR Corp. provides services to banks, retailers, restaurants, small businesses, and more.To protect itself from risks and vulnerabilities, NCR built a proactive security program that relies on automation and integrates threat intelligence across the company’s IT environment. At the heart of the program is LIKE.TG Security Operations.Find out how NCR drove a faster, more efficient security response program and how your organization can boost security response time and efficiency.
Forrester says LIKE.TG is a Leader in third-party risk management
No matter what business or industry you’re in, you want your business partners to deliver. Sometimes what we get is unexpected: toxic ingredients, software bugs, data breaches, sketchy hiring practices, unvetted subcontractors.As hundreds and even thousands of third and fourth parties become more integral to business, your risk posture and success trajectory are heavily influenced by your partners’ business practices. That’s why you need automated third-party risk management.Manual processes don’t cut itAccording to The Forrester Wave™: Third-Party Risk Management Platforms, Q2 2022, “70% of enterprise risk decision-makers surveyed agree that third-party risk is a business priority, but 69% reveal that their third-party risk program is manual.”Where once a single person could “spreadsheet jockey” their way through dozens of vendor assessments annually, that model doesn’t cut it today. Why?
Too many vendors and suppliers onboarding at too fast of a pace
Increased array of risks to be assessed, with rapid changes in status
Shortage of people, and the ones you can find don’t want to jockey spreadsheets
Too many connections to other parts of the organization to keep up in email
Regulators, governance teams, and investors want to see defensible data more frequently
These realities explain why products that help you manage third-party risk are flying off the shelves. Luckily, cloud software is easy to keep in stock.
Microsoft is using LIKE.TG® Vendor Risk Assessment to reduce manual effort by more than 50%, simplify communication, and better understand Internet of Things (IoT) security assessment health. Using the product has “vastly improved the end-to-end experience for our employees, vendors, and the IoT security team,” Microsoft says.Flexibility and scaleIn The Forrester Wave: Third-Party Risk Management Platforms, Q2 2022, LIKE.TG Vendor Risk Management was named as one of only three Leaders. The Forrester report recognized LIKE.TG with the highest possible scores in the scoring and correlation, workflow, product, vision, planned enhancements, partner ecosystem, and customer community criteria.Although Forrester didn’t explicitly score these items, the report states, “TPRM customers should look for providers that are dedicated to platform flexibility and scalability.” We believe these are core strengths of the LIKE.TG unified architecture and cloud platform.Importantly, we shipped new enhancements in our San Diego release after the evaluation, so there’s even more to like, including:
The awesome Next Experience and integration with EcoVadis
Supply chain resilience with Interos
The ability to add fourth-party vendors to identify and manage potential downstream risks associated with your third-party vendors
Download the complimentary Forrester report. And let us know when we can help you manage risk from your third and fourth parties more easily, efficiently, and at scale.
Survey: Cybersecurity requires risk-based management approach
We’ve entered a new era of cyber risk where cybersecurity is no longer just an IT issue, according to findings from a May 2022 ThoughtLab global survey co-sponsored by ServiceNow. Although cyberattacks and breaches are increasing, many organizations are unprepared to respond.The problems come down to three main areas:
Extended attack surface through partners and suppliers
Cyber risk initiatives not up to date with digital transformation
Budget constraints
Denial of service and phishing attacks account for the lion’s share of cyberthreats today, at 49% and 46% of attacks, respectively. In the next two years, phishing attacks will continue to be a problem, posing the highest risk for 50% of the 1,200 worldwide organizations surveyed across 14 industries. But denial of service will be less of a threat (31%) in the subsequent 24 months, surpassed by human error (44%) and ransomware (40%).
The cybersecurity landscapeTo counter these attacks, organizations should harden their systems to prevent cybercriminals from ever breaching them. This requires detailed attention to IT infrastructure and platforms. Although human error is the main cause of today’s largest breaches, misconfigurations will pose the biggest risk over the the next two years, according to the survey.“Misconfigurations across applications, systems, platforms, and servers—and neglecting to put new default settings in place—can create dangerous pathways for hackers,” the report notes.Organizations know they need stronger security, but budget constraints prevent them from investing in cybersecurity technologies. Businesses also struggle with identifying key risks and detecting and responding to incidents.Despite these challenges, many organizations have succeeded in establishing governance and risk assessment. And more than half of the respondents surveyed have invested in protective technology (55%) and data security (52%). Where organizations come up short is in awareness and training. Investments in this area could help curb breaches due to human error.
Bolstering securityNearly 60% of organizations have successfully implemented cyberthreat detection processes. Yet, it takes an average 128 days to detect a breach, according to the study. To ramp up security initiatives, organizations need to move from the detection phase to continuous monitoring.Beyond that, the best way forward is through a risk-based approach involving:
Regular risk assessment
Advanced analysis
Enterprise-wide risk management
Proactive risk mitigation
"Risk-based management aligns security priorities with the business and helps security leaders become more strategic in their views and outcomes,” explains Barbara Kay, senior director of product marketing, risk, security, and ESG at ServiceNow.Nearly half (43%) of surveyed organizations have adopted a risk-based approach to date.Gain more insights in the ThoughtLab report, including 10 best practices to boost your cybersecurity performance.
How the SEC’s proposed climate disclosure rules can affect your business
Edua Dickerson, vice president of ESG and finance strategy at LIKE.TG, co-authored this blog.Environmental, social, and governance (ESG) concerns are rapidly rising to the top of the corporate agenda. Not only is ESG a corporate responsibility, but it’s also a win-win for enterprises.By embracing sustainability, ethical labor practices, and effective processes and controls, organizations are laying the groundwork for increased value creation, according to McKinsey. In other words, ESG is an opportunity to prosper by doing the right thing.Investors are also keenly interested in ESG. In fact, we’re seeing ESG becoming a critical factor in the investment decision process, both for institutional and individual investors.Climate risk reporting mandateEvidencing this fundamental shift in investment priorities, the US Securities and Exchange Commission (SEC) released a statement on March 21, 2022, proposing rules to standardize climate-related disclosures—including climate-related risk disclosures—as part of certain SEC filings, such as 10-Ks. The SEC’s action follows a wave of similar regulatory requirements in geographies around the world, including the EU, UK, and New Zealand.If adopted, these new SEC requirements could come into effect as early as Q4 2022. That means large companies (those with a public float of $700 million or more) with a fiscal year end of Dec. 31 will have to start phasing in climate disclosures for their fiscal year 2023 report filed in 2024, with smaller companies following a year or two later.Increased emphasis on governance and riskMany large companies already disclose much of this climate-related information in voluntary reports. However, the requirement to include such information in a periodic report will demand additional rigor, increase the need for auditability, and heighten executive and board-level scrutiny.The proposed SEC disclosures share common elements with existing ESG reporting frameworks, including:
Direct (Scope 1), indirect (Scope 2), and value-chain-related (Scope 3) greenhouse gas emissions
How the organization identifies and addresses the impact of climate-related risks over the short, medium, and long term
How the organization intends to meet its climate-related goals and targets
How it’s progressing against these goals and targets
Essentially, there’s an increased emphasis on climate-related strategy, governance, and risk management by the SEC.
Building ESG into the organizationGiven the increased scope and mission-critical nature of these SEC disclosures, businesses will need effective tools and processes to gather, analyze, and report on climate-related strategy and performance. They’ll also need to create, manage, and measure programs to align company activities with stated climate-related goals.This visibility and control need to span the entire business. The imperative is about more than just running an ESG department. It’s about building ESG into every aspect of what an organization does.Unfortunately, many organizations—including those aligning to standardized reporting frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD)—still rely on manual, error-prone processes such as spreadsheets and emails for ESG reporting. This approach doesn’t scale to efficiently provide the climate-related information that investors need and that the proposed SEC rules help address.Instead, IT teams need to work with ESG/sustainability and risk management professionals within the business to implement sophisticated software solutions that enable effective execution, monitoring, governance, and disclosure of climate-related initiatives and concerns across the business.These tools must capture ESG strategy and targets, tie ESG program execution to these goals, provide capabilities to identify and mitigate ESG risks, and automatically gather ESG metrics through internal processes—and by gathering information from third-party ESG data providers (for example, to gather emissions data for an organization’s supply chain).Enabling ESG managementAs part of the LIKE.TG community, you can leverage your investment in the Now Platform® to empower your business with our ESG management tools. LIKE.TG combines the capabilities of LIKE.TG® ESG Management, Integrated Risk Management, and Strategic Portfolio Management into a unified solution that helps your business:
Document climate strategy, including focus areas, targets, and quantified goals
Assess and track climate risks, including creating controls and executing plans to address these risks
Identify and prioritize climate initiatives based on their value, cost, and alignment with ESG strategy
Manage progress of these climate initiatives, keeping ESG programs on track
Gather climate metrics and evidence from internal data owners with auditable workflows
Automatically collect climate and other ESG metrics from third-party providers
Synthesize information, including strategy, targets, risks, projects, metrics, and other data into auditable and traceable disclosures
Find out more about LIKE.TG ESG solutions.Learn more about LIKE.TG’s ESG progress in our Global Impact Report.
Australia spotlight: Why business leaders need to measure ESG impact
Nearly two years of pandemic chaos have given us plenty of time to think about how we live and work. As the world waves goodbye to pandemic restrictions, attention is shifting to action on climate change.Corporate responsibility is now one of the defining issues of our age. From Business Roundtable redefining the purpose of corporations to benefit all stakeholders, to growing numbers of consumers demanding change, the environmental, social and governance (ESG) efforts of companies now face intense scrutiny.At a minimum, investors, employees, customers, and partners expect transparency and action. Organizations that respond will reap multiple benefits:
Improved talent attraction and retention
Increased shareholder value
Decreased operating costs
Higher growth potential
That’s before considering increasing regulations. In 2020, 206 new ESG rules were introduced globally. Government and industry bodies alike are creating ambitious targets with new implications for executive teams and boardrooms across Australia.The call to measure ESGThe clock is ticking on common standards for measuring sustainability. Double materiality rules have gone into effect in Europe, requiring public companies and investors to disclose the risk their operations pose to people and the planet, alongside profitability.At the same time, the World Economic Forum’s International Business Council specified 21 core “stakeholder capitalism” metrics to guide executive teams and boards as they embrace these changes.ESG disclosure developments like these are quickly reverberating across corporate Australia. Stakeholder pressure for organizations to do what’s right and reliably report on progress is impacting every industry.
Survey: ESG is a business imperative
Businesses across the globe are under pressure to address environmental, social, and governance (ESG) issues. The pressure is coming from all sides, including the board, senior management, customers, investors, and employees, according to new research from LIKE.TG and ThoughtLab.“ESG has become a business imperative with real impact on stakeholder trust and long-term value creation,” says LIKE.TG Chief Financial Officer Gina Mastantuono, writing in the Spring issue of LIKE.TG’s Workflow Quarterly magazine.Benefits of ESGOf the 1,000 C-level business leaders in the LIKE.TG/ThoughtLab survey, 64% say ESG enables stronger financial performance. In fact, 73% of financial leaders report that a focus on ESG helped them deliver better results. Only 13% said generating profit for shareholders is a higher priority than improving ESG performance.According to the research, strong ESG performance enables a range of business benefits, including:
Increased revenue growth
Greater shareholder value
Better talent attraction and retention
Improved customer satisfaction
Stronger teamwork and corporate culture
How to achieve ESG goalsThe study shows that organizations worldwide are focused on identifying ESG issues, developing an ESG vision and strategy, creating structure and honing skills to advance that strategy, setting and reporting metrics on ESG performance, and more. Digital technology can help with those efforts. In fact, digital innovation is key to achieving ESG goals, according to 61% of survey respondents.Data and security are important with any digital technology. Currently, 52% of organizations represented in the survey are working to improve their data security and privacy. And 65% of companies plan to address this issue within the next two years.Promising techWhich technologies are organizations relying on to advance their ESG goals? According to the LIKE.TG/ThoughtLab study, companies are embracing the cloud, artificial intelligence (AI), advanced data management and analytics, the Internet of Things (IoT), and digital enterprise platforms, among others.Organizations face significant challenges to reaching their ESG goals. Six out of 10 ESG leaders report a lack of ESG skills and talent. Other challenges include keeping up with changing regulations, insufficient technology investment, uncertain business case, and high implementation costs.LIKE.TG® ESG solutions can help you get control of ESG across your organization to realize value and business outcomes.Gain more insights in the ESG issue of Workflow Quarterly.
