Archer Launches Vendor Management
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New Solutions from Archer Technologies Reduce Operational Risk, Ease Compliance Archer introduces Vendor Management and Sarbanes-Oxley Compliance solutions to facilitate sustainable, repeatable compliance processes, data aggregation and operational risk assessment SAN JOSE, Calif. (Feb. 14, 2006) – Archer Technologies (Archer), a leader in enterprise security and compliance solutions, announced today the release of its Vendor Management solution. Vendor Management enables organizations to consolidate disparate vendor information into a single application to optimize resources and reduce risk. Archer also announced its expansion into operational risk management with the introduction of the Sarbanes-Oxley (SOX) Compliance Management solution. This new offering complements Archer's Vendor Management product and enables companies to dramatically decrease the cost and effort associated with SOX compliance. “In many organizations, vendors play a key role in daily activities with access to sensitive information and management responsibility for critical functions,” said Jon Darbyshire, CEO of Archer Technologies. “Effectively managing vendors and ensuring regulatory compliance are costly and resource-consuming tasks. With our new Vendor Management and SOX Compliance Management solutions, companies can automate their compliance initiatives, reducing the effort, risk and cost associated with changing requirements.” Vendor Management Solution The Vendor Management solution facilitates four key activities as part of an effective vendor management process: risk assessment, risk-based vendor selection, contract reviews and ongoing monitoring. Leveraging the Vendor Management solution, organizations can achieve lower cost, higher quality and lower risk in their vendor relationships through the application of risk-appropriate controls, clear reporting of expectations and vendor performance, and a consistent and repeatable assessment process. Features include: Data Centralization: Aggregate vendor information into a single interface; provide an enterprise view of documentation, services and utilization; and manage data entitlements through role and group-based access control Risk Assessment: Evaluate vendors based on services, facilities and practices; assign action teams to individual vendors; and calculate risk throughout the task performance period Relationship Management: Track vendor performance and the status of deliverables; ensure agreements are reviewed and managed with time-triggered notifications; and document meetings, activities and an exit strategy for each relationship The introduction of the Vendor Management solution strengthens Archer’s commitment to enterprise security management and allows for consolidation of disparate vendor information repositories, ensuring that vendor agreements are reviewed and managed. The solution also reduces risk by tracking security compliance as well as conformity with HIPPA (Health Insurance Portability and Accountability Act) and GLBA (Gramm-Leach-Bliley Act), which address the security of non-public health and financial information. SOX Compliance Management Solution The SOX Compliance Management solution integrates seamlessly with other Archer solutions, enabling organizations to leverage pre-existing data and employ the Archer application as a centralized tool for compliance, data aggregation, process control and reporting. “Public companies are painfully aware that managing Sarbanes-Oxley compliance has come at a higher cost than anticipated,” said David Walter, Archer Technologies SOX product manager. “The Archer solution immediately reduces the expense of compliance initiatives and enables a repeatable, simplified approach through its ease of configuration, comprehensive feature set and custom reporting capabilities.” Archer’s Vendor Management and Sarbanes-Oxley (SOX) Compliance Management solutions fully integrate with the Archer Policy, Threat, Asset, Risk and Incident Management solutions. All Archer solutions, once licensed, are fully configurable to an organization’s specific requirements, allowing the capture of various processes, technologies and vendors. The Archer SmartSuite Framework™ All Archer solutions are built on the highly flexible Archer SmartSuite Framework, empowering customers to tailor Archer out-of-the-box, best-practice solutions to meet the unique and changing requirements of their enterprise or to build new, powerful, easy-to-use global applications. The Archer SmartSuite Framework is a multi-tiered application design and delivery platform that allows users to build or modify database-intensive applications without any knowledge of database systems. Users are able to simply point and click to build highly scalable applications that can be deployed globally or integrated with other security point solutions. BITS Certification In October 2003, the Archer SmartSuite Framework version 3.0 earned the BITS Tested Mark. Created by BITS to improve the security of software products used in the financial services industry, the BITS Tested Mark indicates to financial services companies that a product has passed BITS Product Certification Program (BPCP) testing. The Archer SmartSuite Framework earned the BITS Certification after testing demonstrated its compliance with BITS’ security criteria in the areas of data and system integrity, security administration, guidance documentation and security functionality and scalability. About Archer Technologies Archer Technologies was founded in October 2000 to deliver Enterprise Security and Compliance Management software solutions that enable organizations to automate, integrate and manage internal and external security and compliance services, products and support processes. With more than four million licensed users of our products, Archer Technologies delivers out-of-the-box, best-practice applications that help our customers align information security processes and support functions with business objectives while improving service levels, managing assets and lowering operating costs.
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