Archer Third Party Governance automates and streamlines oversight of vendor relationships. The solution facilitates key activities necessary to fulfill regulatory obligations and best practices across the entire third party management lifecycle as part of a governance, risk and compliance (GRC) program. You can capture prospective relationships, engage affected stakeholders, and assess contract risk, financial wherewithal, and inherent and residual risks across multiple risk categories. This enables you to enforce risk-based selection, establish performance metrics, and monitor and manage the program throughout the third party lifecycle.
Archer Third Party Governance provides several use cases to meet your specific business needs as you mature your third party risk and performance management program, including the following options.
Third Party Catalog: Document all third party relationships engagements, and associated contracts, as well as the business units and named individuals in the organization that are responsible for each third party relationship.
Third Party Engagement: Fully document relevant information about the products and services you receive from third parties, including associating products and service engagements to the business processes they support, documenting fourth parties, proof of insurance, and master service agreements.
Third Party Risk Management: Assess the governance and controls that third parties have in place around the engagements they are delivering to your organization.
Third Party Governance: Monitor each third party’s performance. Metrics can be established around each engagement within four categories: Quality, Innovation, Performance, and Relationship.
Third Party Security Risk Monitoring: Get visibility, insight, and actionable intelligence into third- and fourth-party IT risk environments. Quickly assess the effectiveness of security controls for third parties without relying on manual spreadsheet assessments and long emails with no audit trails.
For More Information
To learn more about Archer Third Party Governance:
Review the links above for additional information about Third Party Governance Use Cases
To learn more about how Archer products, services, and solutions can help solve your business and IT challenges, contact your local representative or authorized reseller—or visit us at www.archerirm.com. If you are an existing Archer customer and have questions or require additional information about licensing, please visit the Archer Community for technical support.