DATASHEET

Archer Third Party
Risk Management®

Use Case for Third Party Governance
The Challenge
Organizations are increasingly using third parties to support their operations and deliverproducts and services to their clients. While many business activities can be outsourced,organizations retain the risks associated with their third-party relationships. These risks
can have a significant impact, including regulatory compliance violations, information security
breaches, financial losses from errors, fraud and business interruption, and reputational damage.
To effectively manage risk within acceptable boundaries, organizations must understandthe risk posed by their third-party relationships, as well as the control procedures their
third-party providers have in place.

Overview
Archer Third Party Risk Management employs a series of risk assessment questionnaires forthird parties, enabling your organization to assess their internal controls and collect relevant
supporting documentation for further analysis.
®

Residual risk is assessed across several risk categories, compliance/litigation, financial, information
security, reputation, resiliency, strategic, sustainability, and fourth-party risk. Risk results are
depicted for each engagement and rolled up to the corresponding third party to obtain an
overall view of the third party’s “aggregate” risk to your organization. Risk assessment findings
can be automatically captured and managed as exceptions, and remediation plans can beestablished, assigned to accountable individuals, and monitored for resolution.

Features• Representation of risk of each third-party relationship, across all product and service engagements 				 delivered to your organization.
• Capture, monitor, and storage of supplemental documents such as system & organization controls (SOC)		 reporting, financial statements and PCI assessments.
• Capture and monitoring of remediation plans.
• Reporting on the overall thirdparty risk profile, individual problem third parties, and any remediation 				 in process.
• Consistent evaluation of third-party controls and risk scoring.

Benefits
With the Archer Third Party Risk Management, you can:• Understand your third-party risk profile.
• Ability to track the ESG posture of third parties, including compliance with regulations and public disclosures.
• Leverage a methodical and standardized approach to risk assessment.
• Manage and mitigate identified issues and respond more quickly to emerging risks.
• Reduce third-party-related incidents and losses, repeat audit and regulatory findings, and associated costs.
• Get visibility into your third-party ESG scores, facilitating a better understanding of their ESG performance to mitigate risks associated		 with ESG-related concerns, with the optional Archer ESG Score Connect offering available.

About Archer
Archer is a leading provider of integrated risk management (IRM) solutions that enable customers to improve strategic decision-making
and operational resilience with a modern technology platform that supports qualitative and quantitative analysis driven by both businessand IT impacts. As true pioneers in GRC software, Archer remains solely dedicated to helping customers manage risk and compliancedomains, from traditional operational risk to emerging issues such as ESG. With over 20 years in the risk management industry, theArcher customer base represents one of the largest pure risk management communities globally, with more than 1,200 customers
including more than 50% of the Fortune 500.
Visit www.ArcherIRM.com.

@ArcherIRM

Archer Integrated Risk Management©2023 Archer Technologies LLC. All rights reserved. Archer and the Archer logo are registered trademarks or trademarks of ArcherTechnologies LLC in the United States and other countries. All other trademarks are the property of their respective owners. Archerbelieves the information in this document is accurate. The information is subject to change without notice. 10/23 Data Sheet.