Vendor Management

The Archer Vendor Management solution enables you to maximize the efficiency of managing vendor relationships while assessing their compliance with your policies and controls. This comprehensive solution facilitates three key activities as part of an effective vendor management process: risk-based vendor selection, relationship management and ongoing compliance monitoring. Leveraging the Vendor Management solution, you can establish a lower-cost, higher-quality vendor management process through a centralized repository of vendor data, clear reporting of activities related to vendor risk, and a consistent and repeatable assessment process.

Through Archer Vendor Management, you can:

• Aggregate all vendor information, including vendor profiles, contacts, facilities, contracts and projects.
• Provide an enterprise view of corporate vendor documentation, services and utilization that is categorized by relationship manager, tier or any other data element.
• Enable vendor relationship managers to minimize and manage risk associated with vendor relationships by tracking key performance indicators and the status of deliverables.
• Assess vendor risk using various assessment types and a library of questions based on best-practice standards, such as the Shared Assessments Program.
• Derive risk and compliance ratings from assessment results using easily configurable and flexible risk scoring formulas.
• Measure and report vendor compliance with all relevant company policies, procedures and regulatory requirements.
• Track and address areas of non-compliance identified in the vendor assessment process.
• Monitor the overall vendor management program through powerful executive dashboards.

Features and Benefits

Read the full features and benefits to learn how the Archer Vendor Management solution can help you consolidate vendor data, assess risk in vendor relationships and demonstrate compliance.