Third Party Governance
Automate and streamline oversight of vendor relationships. Get an accurate picture of third-party risk factors and prioritize them according to importance, thus, mitigating third-party risk and monitoring performance.
RSA ARCHER® THIRD-PARTY GOVERNANCE -BENEFITS-
Clarifies Third-party Relationships
Catalog and assess third-party relationships and understand associated risks. Learn third- and fourth-party dependencies to prevent surprises.
Facilitates Third-party Monitoring
Stay current with vendor status and monitor material changes to relationships. Ensure that no material risks exist.
Enables Consistent Management
Consistently evaluate risks posed by third-parties and apply controls, treatments and transfer techniques according to your organization’s risk tolerance.
Drives Accountability for Third-party Risk
Track the individuals responsible for vendor relationships, along with key contacts at third-party organizations, all in a single system.
A survey by the Ponemon Institute found that more than 41% of surveyed companies sustained a data breach caused by a third-party. And the consequent loss of brand value typically ranged from $184 million to more than $330 million.
– USE CASES –
RSA 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.
It allows you to 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.
It allows you to more 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.
It allows you to assess the governance and controls that third-parties have in place around the engagements they are delivering to your organization.
It allows you to monitor each third-party’s performance. Metrics can be established around each engagement within four categories: Quality, Innovation, Performance, and Relationship.
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