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The environmental, social and governance (ESG) world is entering a new era characterized by regulatory compliance, with multiple jurisdictions either adopting or finalizing sustainability reporting regulations. This shift brings both benefits and challenges. On one hand, companies gain standardized rules for aligning their reporting activities. On the other hand, they face the task of setting up efficient and cost friendly ESG reporting programs. The issue lies in leveraging technology to automate reporting compliance processes while ensuring scalability. At Archer, we recognize this challenge. To address it, we have developed ESG Management solution to help companies collect, manage, and report data for regulatory ESG frameworks. Our latest ESG release introduces core capabilities designed to facilitate compliance with regulatory standards, such as CSRD ESRS and IFRS Sustainability Standards. EU CSRD The European Commission (EU)'s adoption of the Delegated Act on European Sustainability Reporting Standards (ESRS) on 31 July 2023 marks a significant milestone. ESRS, mandated by the Corporate Sustainability Reporting Directive (CSRD), applies to over 50,000 organizations globally, on a various scale, from 1 January 2024. Archer's phased release of the ESRS reporting framework aims to support companies in meeting the requirements of this regulation. As part of this journey, companies must conduct a double materiality assessment to identify important disclosure topics from both impact and financial materiality perspectives. Archer's Double Materiality Calculator (DMC), released in September 2023, empowers companies to kickstart their sustainability efforts by identifying most material topics. In our latest ESRS release, we are excited to introduce enhanced capabilities aligned with companies' reporting requirements. These capabilities include the reporting framework for ESRS 1, ESRS 2, Environment (E)1, and Social (S)1, translating complex regulatory requirements into a structured, automated workflow for efficient reporting. Furthermore, Archer's ESG solution enables the collection of diverse set of information, including metrics and disclosures according to ESRS guidelines. Integrating with Archer's existing risk and issue management modules, companies can identify and act upon impacts, risks, and opportunities (IRO) effectively and all from one place. Moreover, companies can in real time track their progress in completing ESRS as they advance through different stages of reporting. In the next upcoming phases, we’ll be releasing the remaining topical ESRS standards across E, S and G.   IFRS Sustainability Standards The International Sustainability Standards Board (ISSB) of the International Financial Reporting Standards (IFRS) Foundation introduced two key sustainability standards, namely IFRS S1 and IFRS S2, in June 2023. IFRS S1 focuses on disclosure requirements that enable companies to effectively communicate sustainability-related risks and opportunities to investors. On the other hand, IFRS S2 outlines specific climate-related disclosures, intended to complement, and be used alongside IFRS S1. While IFRS Sustainability Standards do not constitute a regulatory framework in themselves, their widespread recognition has prompted several countries to express interest in integrating these standards into their national sustainability reporting frameworks. Among these countries are the U.K., Brazil, Canada, Singapore, South Africa, and more, reflecting a global movement towards adopting comprehensive sustainability reporting practices. With the latest capabilities introduced in our ESG Management solution, companies can effectively report based on IFRS S1 and S2. Our dedicated reporting framework enables companies to streamline their IFRS S1 and S2 reporting, enhancing data collection, structuring, analysis, and risk management capabilities. Take Actions Accelerate your ESG regulatory reporting journey with Archer for improved efficiency, seamless integration, and a comprehensive approach. Register to join us on April 19, 2024 for the Free Friday Tech Huddle (FFTH) dedicated to the latest ESG solution release. To learn more and see the latest functionality in action, contact your dedicated sales representative today to discover how Archer can help you to comply with sustainability regulations.

In today’s constantly changing regulatory landscape, it is challenging for organizations to have an efficient regulatory change management program. Organizations are overwhelmed with an increasing volume of regulatory information about new laws and regulations, along with changes to existing laws and regulations that they need to keep up with. Managing regulatory changes manually across your enterprise can take hundreds of hours of reading, assessing, and defining implications and requirements for your organization. The lack of automation for regulatory change management makes it difficult to ensure you are appropriately managing legal, risk, and compliance activities. Leveraging an automated approach for your regulatory change management processes enables organizations to increase accuracy, improve productivity, and reduce the chance that compliance gaps will be missed. Archer Compliance AI is a regulatory change management solution that applies purpose-built machine learning models to automatically monitor the regulatory environment for relevant changes and map them to your internal policies, procedures, and controls. Our solution provides: Automatic task delegation and prioritization Automatic obligation extraction Real-time dashboards that automatically collect and analyze new regulatory content Visit https://www.archerirm.com/compliance-ai to learn more.

In an era of heightened concerns over climate change, environmental, social, and governance (ESG) considerations are taking on greater importance for the world's leading financial institutions. For global banks, ESG objectives are more than just a compliance requirement; they are a critical priority that calls for innovative technological solutions.   With the increasing focus on environmental responsibility, bank CIOs play a crucial role in driving sustainability initiatives within their organizations. A recent Gartner report stated that "by 2027, 25% of all CIOs across industries will have their compensation tied to their sustainable technology impact."  This pivotal role involves not only ensuring the company's technology infrastructure minimizes emissions but also bolsters the business's resilience against climate-related disruptions. One of the critical responsibilities of bank CIOs in driving sustainability initiatives is leveraging data analytics for measurement and reporting. By analyzing data related to energy use, emissions, and other environmental impacts, CIOs can identify areas for improvement and track progress toward sustainability goals. This data-driven approach not only helps banks stay accountable but also allows them to make informed decisions that benefit both the environment and their bottom line. In addition to data analytics, bank CIOs lead the efforts to adopt sustainable technology within their organizations. This includes leveraging AI and cloud computing services to reduce energy consumption and carbon emissions associated with traditional on-premises infrastructure. AI will significantly impact the banks' ability to minimize their environmental impact, and the CIO will be at the forefront of these efforts. The pressure will be on the CIO to choose the right ESG technologies and platforms to help the business achieve these goals. The right ESG platform can significantly elevate a company's sustainability program, streamlining data collection and analysis automation, enhancing scalability, flexibility, and integration with existing enterprise risk systems, and leveraging AI for compliance and analytics. Archer ESG Management solution can help CIOs meet these challenges, providing the tools needed to deliver on sustainability commitments, carbon emission reporting, double materiality assessments, and adherence to leading ESG frameworks like TCFD, SASB, and GRI.   As the world faces increasing climate-related challenges, banks must prioritize ESG objectives and work towards a more sustainable future. With CIOs leading the way, financial institutions can position themselves as leaders in environmental stewardship while also meeting the demands of socially responsible consumers and investors. Interested in learning more? Read the Gartner report, “ Environmental Sustainability: Top ESG Trend for Bank CIOs in 2024 ,” compliments of Archer and only available for a limited time.   We also encourage you to speak with one of our experts  to explore how Archer can support you in initiating or advancing your sustainability and risk management programs.   Gartner, Environmental Sustainability: Top ESG Trend for Bank CIOs in 2024, Derek Frost, 14 December 2023.   GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.   Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Navigating the increasingly complex web of risks today -- from business disruptions and economic uncertainties to cyber threats and physical incidents -- requires a sophisticated approach to risk management. Managing the extensive details of risks, controls, incidents, and claims has also become increasingly challenging.  Multiple teams, separate systems, and data silos make it difficult to gain a comprehensive view of the risks at hand. It's akin to solving a puzzle with missing pieces, made even more challenging with the growing amount of data from various sources. So, how do you coordinate all of the details to minimize losses while also trying to improve your processes and controls? Enter Archer RMIS AI, the only solution that combines RMIS, artificial intelligence (AI) and governance, risk, and compliance (GRC) capabilities to help you build a more coordinated risk management process. Archer RMIS AI provides workflows and predictive analytics that help you implement smarter processes and controls. It positions you to build a comprehensive view of your organization’s risk landscape so you can act effectively and make more strategic decisions. Need a quick summary of everything that’s happened since you last reviewed the data?  Need to analyze trends in incidents, loss events, and claims? Concerned about that one claim that could impact your entire company? Archer RMIS AI is the answer. It's time to embrace the evolution of risk management with Archer RMIS AI to navigate the challenges of today's world with confidence and resilience. To learn more, register today for our April 23 webinar, hosted by RIMS, the Risk Management Society, “ Advancing RMIS: Strategies for Modern Risk Management , ” on Tuesday, April 23, 2024, at 11:00 am ET. Attendees will learn about: The critical need to transition from traditional RMIS solutions to advanced systems capable of navigating the complexities of today's risk landscape. The strategic benefits of aligning RMIS with GRC strategies to drive new insights and operational efficiencies. The enhanced decision-making and operational risk management made possible with the integration of incident and loss data with RMIS technologies.   Be sure to use promo code “RIMSARCHER50” to waive the $50 fee.

Navigating the intricate web of regulations and risks in today's business environment is challenging. With constantly evolving laws, information scattered across departments, and the daunting task of distilling actionable insights from large amounts of data, effective risk management can feel like an impossible task. Making mistakes can be costly in both time and money, resulting in fines, penalties, and tarnished reputations. Adopting a simpler and more efficient approach to risk management can help you navigate today's complex web of regulatory changes and scattered information, avoid expensive fines, and reduce risks. Unified View for Informed Decisions: Embracing an end-to-end assurance program enables you to gain invaluable insights into your organization's myriad risks. From operational vulnerabilities to compliance gaps, a unified view empowers decision-makers with the clarity and foresight necessary to manage and mitigate risk. Efficiency Through Automation: The relentless onslaught of new regulations poses a formidable challenge to stay abreast of ever-shifting legal frameworks. By using AI-driven automation, you can go beyond the limitations of manual monitoring. Automatically tracking and analyzing regulatory changes saves time and resources and mitigates the risk of overlooking regulatory updates and changes that could expose the organization to compliance breaches and penalties. This advanced technology ensures a high level of accuracy, making you feel more secure in your risk management processes. Quantitative Risk Assessment: Not all risks are created equally; prioritizing them is critical to effective risk management. Understanding the priority of risks is critical for effective risk management. Identifying and prioritizing the most significant risks is vital to allocating resources effectively and safeguarding against potential pitfalls. Through quantitative enterprise risk management, organizations can quantify the impact and likelihood of various risks, enabling a targeted approach to risk mitigation. Businesses can optimize their risk management by focusing on the most consequential and costly risks. An end-to-end assurance program, automated regulatory change management, and quantitative enterprise risk management can create value for your risk management efforts. To learn more, register today for our May 14 webinar, hosted by OCEG, “ Mastering Risk & Regulatory Change with AI Automation and Risk Quantification ,” on May 14 at 11:00 AM ET, to: Learn how a unified view of your company allows you to effectively understand the risks your company faces. Discover how automatically monitoring new and upcoming regulations can save you time and money. Learn how quantitative assessments can enable you to focus on the most important and expensive risks.

In today's complex cyber threat landscape, organizations face an ongoing challenge to have robust security measures to detect and respond to threats effectively. It has become critical to have visibility into your organization's security landscape to protect your network assets from cybersecurity threats. The ability to create a detailed inventory of network assets to address the cyber threat challenge not only allows your security teams to prioritize remediation efforts effectively but also empowers them to take control of the situation. A significant cybersecurity challenge is the lack of visibility into network assets. Organizations need help maintaining an accurate inventory of all devices, systems, and applications connected to their networks. This is a serious challenge because any unknown assets can become cyberattack entry points. Organizations must understand everything that needs to be secured. Organizations' ability to obtain a comprehensive inventory of all network assets, including endpoints, servers, IoT devices, and applications, will provide a more robust view of their landscape. This complete asset inventory, as the foundation of their cybersecurity strategy, will ensure that no device or system goes unnoticed and reduce the risk of vulnerabilities being exploited due to oversight. Identifying and understanding vulnerabilities within network assets is another critical challenge. Vulnerabilities can vary widely in severity and impact, making knowing which vulnerabilities to address first is challenging. However, getting detailed insights into potential security flaws and assessing their severity can enable you to understand how they can be exploited. This information equips your security teams to understand the scope and nature of the cyber threats facing your organization, making decision-makers feel informed and responsible. Organizations must have a prioritization strategy for risk remediation to ensure that critical assets are not exposed. To ensure important issues are addressed first security teams should prioritize remediation efforts based on the criticality of each asset. Organizations can mitigate the most pressing risks first by focusing on fixing vulnerabilities that pose the highest risk to the most critical systems and data. Continuous monitoring is not just a necessity but a proactive measure in the ever-evolving cyber threat landscape. Scanning your network helps ensure that any new vulnerabilities are identified and that remediation efforts are tracked and adjusted. This allows you to maintain a robust security posture. Archer can help you reduce your cyber risk by identifying and addressing vulnerabilities and prioritizing risk remediation efforts. Archer's recently released integration with Rapid7 InsightVM   enables organizations to catalog network devices and assess vulnerabilities.   Contact us  for more information or to speak to an Archer expert.

We're thrilled to announce the launch of Archer Carbon Management  powered by Compare Your Footprint (CYF) on May 20, 2024. This innovative software solution enables organizations to streamline their emissions and sustainability reporting, making it easier than ever to measure your environmental impact and achieve your sustainability goals. Archer Carbon Management's innovative offering arrives at a critical time. With consumers becoming increasingly eco-conscious and regulations such as the European Union Corporate Sustainability Reporting Directive (CSRD), California's Climate Corporate Data Accountability Act, and the recent SEC Climate Disclosure rule all requiring emissions reporting, the pressure on organizations to act is greater than ever. The Growing Need for Carbon Emission Reporting One of the biggest challenges organizations face today is the accurate calculation of their carbon emissions. This process involves juggling disparate data sources, from energy bills to travel logs and waste management records, a task that is not only cumbersome but fraught with potential for errors and inconsistencies. Archer Carbon Management eliminates these obstacles by providing automated emissions calculation and reporting for scope 1, 2, and 3 emissions, ensuring alignment with the Greenhouse Gas (GHG) Protocol. This enables organizations to easily identify their "carbon hotspots," making it easier to target and strategize emission reduction efforts effectively. Archer Carbon Management: Cut through the Complexity of Emissions Reporting Archer Carbon Management cuts through this complexity. This powerful, user-friendly platform is designed to be your comprehensive emissions-reporting solution. Archer Carbon Management equips you with actionable insights and comprehensive reporting capabilities. Through intuitive dashboards and robust analytics, organizations can achieve a deeper understanding of their environmental impact. This holistic view aids in effective decision-making and risk management and sets the stage for achieving Science-Based Targets (SBT) and advancing towards Net Zero goals. Features at a Glance Streamline input data collection across from internal and external sources Measure scope 1, 2, & 3 carbon emissions based on the GHG Protocol Track emission progress, trends, and hotspots with ease Leverage over 10,000 global carbon factors for accurate calculations Use carbon emissions data for regulatory reporting   Benefits for Your Organization Ensure compliance with evolving regulatory reporting requirements Boost your organization's resilience and su stainability by effectively managing your carbon footprint Say goodbye to manual emissions calculations and data entry, empowering your sustainability team to concentrate on strategic goals and targets Ready to unlock the power of Archer Carbon Management? To learn more about Archer Carbon Management, please join us on Friday, May 31, 2024, for a free webinar and demonstration of this new offering.

Navigating the regulatory landscape in financial services has long been a full-time job. Regulations evolve almost monthly and institutions must continuously adapt their compliance strategies to meet new standards and guidelines. Therefore, compliance professionals have the difficult, if not impossible, job of identifying relevant regulatory changes, understanding their implications, and then guiding their organizations in implementing necessary adjustments to policies and practices. This process is not only time-consuming but is also full of risk. Humans trying to make sense of regulations in real time is almost always a recipe for disaster and the speed at which regulation can change could make what was legal illegal overnight. What’s the answer? Automation. Automation offers the potential to streamline the compliance process, reduce the risk of errors, and enable compliance teams to focus on strategic aspects of their roles rather than getting bogged down in the minutiae of regulatory updates. The Rise of Regulatory Automation Automation leverages technology to systematically monitor, analyze, and implement regulatory changes across various jurisdictions and regulatory bodies. This approach not only simplifies the process of staying current with the latest regulations but also significantly reduces the likelihood of human error and the burden associated with manual compliance tasks. By integrating sophisticated algorithms and artificial intelligence, automated systems can swiftly identify relevant regulatory updates, assess their impact on the organization, and guide the necessary adjustments to policies and procedures. And, best of all, these automated systems will “show the work,” ensuring that the humans in the loop aren’t thrown for a loop with an unexpected change. The State of the Art Isn’t So State of the Art The current state of regulation in the financial services sector is marked by both complexity and an overwhelming volume of change. Financial institutions are under constant pressure to adapt to a steady stream of new and updated regulations that span across all aspects of their operations. This environment is not only challenging due to the sheer number of regulations but also because of their complexity. Each regulation comes with its own set of rules and requirements, often with nuanced differences depending on the jurisdiction. Just as no one person can understand the vagaries of a particular business, no one person can keep track of the constant changes associated with compliance. Key regulations that exemplify these challenges include the General Data Protection Regulation (GDPR) in the European Union, which sets stringent data protection and privacy standards; the Dodd-Frank Wall Street Reform and Consumer Protection Act in the United States, which introduced a comprehensive set of financial regulatory reforms post-2008 financial crisis; and the Markets in Financial Instruments Directive II (MiFID II) in Europe, aimed at increasing transparency across the financial markets. Each of these regulations has significantly impacted how financial institutions operate, requiring them to invest in new technologies, processes, and personnel to ensure compliance. And, what’s worse, many of the regulations are vague or inapplicable to a certain business. Further, no one can say when or who will crack down on a certain part of the regulatory system, leading to the need to over prepare for a problem that might never rear its head. That said, the implications of non-compliance with these and other regulations can be severe. Financial penalties for breaches can reach into the billions, eroding profits and affecting the bottom line. Beyond the financial impact, non-compliance can also lead to reputational damage that can be far more destructive in the long term. Loss of customer trust and confidence can result in a decline in business, while the negative attention from media can further tarnish an institution’s image. Regulatory bodies may impose operational restrictions, hindering the institution’s ability to conduct business. How, then, do you manage this situation? There are a few trends that are making it easier and far more efficient to survive the storm. Trends In the Regulatory Space The landscape of regulatory change management is continuously evolving, shaped by several key trends that underscore the challenges and opportunities facing financial institutions today. One notable trend is the increasing frequency and scope of regulatory updates, reflecting a global push towards tighter financial oversight in response to past crises and the rise of new financial technologies. This environment demands that institutions not only keep pace with current regulations but also anticipate future changes. Simultaneously, there’s a growing reliance on technology and data analytics within the compliance sector. Financial institutions are leveraging these tools to gain insights into vast amounts of regulatory data, enhancing their ability to identify relevant changes and assess their impact more efficiently. This trend highlights the importance of sophisticated data management strategies in supporting compliance objectives. Another shift is the emphasis on proactive risk management and regulatory monitoring. Rather than reacting to regulatory changes as they occur, institutions are increasingly adopting forward-looking approaches that emphasize ongoing vigilance and preparedness. This proactive stance is essential for mitigating potential compliance risks and aligning regulatory strategy with business objectives. There’s a clear shift towards integrated and automated compliance solutions. These platforms offer a holistic approach to managing regulatory changes, combining monitoring, analysis, and implementation functions into a cohesive system. By reducing the reliance on manual processes, these integrated solutions enable more efficient and effective compliance management. Automating For Efficiency Automation stands at the forefront of transforming regulatory change management, offering several pathways to increased efficiency within financial institutions. Firstly, the accelerated identification and assessment of regulatory changes are made possible through AI-powered algorithms and natural language processing. These technologies can sift through vast amounts of regulatory information, identifying pertinent changes quickly and accurately. Automated tracking and monitoring of regulatory updates from various sources, including regulatory agencies and industry publications, ensure that financial institutions remain abreast of all relevant changes. This comprehensive coverage is crucial for maintaining compliance across different jurisdictions and regulatory frameworks. Streamlined impact assessment and gap analysis further enhance the efficiency of compliance efforts. By automating these processes, institutions can prioritize their compliance activities more effectively, focusing resources on areas of highest impact or risk. This targeted approach facilitates a more strategic allocation of compliance resources. Lastly, automated workflows for implementing and documenting regulatory changes within the organization not only expedite the compliance process but also ensure thorough documentation and traceability. This capability is vital for demonstrating compliance to regulatory bodies and minimizing the risks of non-compliance penalties and reputational damage. Real-time reporting and compliance analytics can make a manager’s difficult job surprisingly simple. By creating a feed of regulatory information and, potentially, allowing for automatic auditing via AI, a manager can immediately learn about and remedy regulatory issues as they arise. Looking Forward The potential for further advancements in automation technologies, including machine learning and predictive analytics, holds promising prospects for regulatory change management. These technologies could offer even more sophisticated tools for predicting regulatory trends, enabling financial institutions to prepare for changes more proactively. Additionally, the integration of automation into broader risk management and governance frameworks could further enhance the strategic oversight of compliance processes, making them more efficient and effective. There are also significant collaboration opportunities between regulators, industry stakeholders, and technology providers. Such collaborations can drive innovation in regulatory compliance, helping to develop solutions that are not only effective but also adaptable to the changing regulatory landscape. These future directions underscore the ongoing evolution of regulatory change management and the central role that automation will continue to play in shaping its development. A Call to Action The need for automation in regulatory change management within financial services compliance has never been more apparent. With the regulatory landscape becoming increasingly complex, automation stands out as a strategic imperative for financial institutions. It promises not only to increase efficiencies and reduce the compliance burden but also to significantly enhance the overall regulatory compliance posture of organizations. The transformative potential of automation underscores a critical call to action for financial institutions: to embrace and invest in automated solutions as a cornerstone of their compliance and risk management strategies. By doing so, they can navigate the complexities of the regulatory environment more effectively and secure a competitive edge in the financial services sector. Archer Compliance AI has developed a platform that addresses the critical needs of enterprise regulatory change management. Designed to mitigate risk, reduce costs, and increase confidence in compliance status for the entire enterprise in the banking, financial services, and insurance industry, customers use Archer Compliance AI to automatically monitor regulatory updates, identify obligations, and ensure required changes are completed. Contact us  to learn more and see how automation can effectively streamline your processes.

There is a famous quote from Mike Tyson: “Everyone has a plan until they get punched in the face.”  If you are headed into the ring against a world champion, you certainly must have trained hard and built a plan. The hope is that even after that first punch, that plan remains intact and you can continue to execute, regardless of the obstacles – namely Mr. Tyson’s fist. Is it too early to think about the next step in your risk management journey? Absolutely not. As a GRC professional, you may feel like you are standing in the ring facing a heavy-duty fighter. The uncertainty your organization is hoping you help navigate is daunting. Environmental concerns collide with financial risks as investors inspect the long-term viability of companies with regards to climate change. Companies expand their digital footprint battling issues such as privacy and social responsibility while entangled with the already daunting challenge of digital crime and fraud. Economic shifts, societal upheaval, strained systems, geopolitical strife – these potential risks cast a deep shadow. It is imperative to keep an eye on trends that can help you deliver impactful inputs to your organization’s risk management strategy. The risk and compliance landscape continues its rapid transformation, presenting both opportunities and challenges for organizations striving to stay ahead. Companies like yours are facing heightened cybersecurity threats, regulatory changes, and the need to integrate advanced technologies seamlessly. As you review your risk management strategy, there are emerging trends that will reshape GRC in 2025 that you can begin preparing for now, including the integration of AI for streamlining risk analysis and improving decision-making, a user experience revolution in leveraging seamless workflows and intuitive design, and the heightened impact of assurance and resilience in delivering significant value. I invite you to join Forrester’s Cody Scott from Forrester  and me for a June 18 webinar, “Way-Too-Early GRC Predictions for 2025” for a discussion about these trends and insights that will help you formulate your risk management strategy for 2025 and beyond.

The EU NIS 2 Directive is sparking heated debates across the European Union. Is its scope too wide, burdening small businesses or is it a necessary shield against evolving cyber threats? Are strict incident reporting requirements essential or do they create unnecessary burdens for minor incidents? Does the high cost of compliance stifle innovation or is it a critical investment in security?   No matter where you stand on these arguments, one thing is clear: GRC (governance, risk and compliance) can be your powerful ally in navigating the NIS 2 landscape. Let's explore how.   Addressing the Scope Challenge If you're concerned about the broad scope of NIS 2, particularly as a small business, GRC can help you identify and prioritize your most critical assets and vulnerabilities. Automated risk assessment tools can streamline this process, ensuring you focus your resources where they matter most.   On the other hand, if you believe the wide scope is necessary, GRC can empower you to monitor and secure a broader range of systems and processes. Cloud-based security solutions offer scalability and flexibility, adapting to your evolving needs as threats emerge.   Streamlining Incident Reporting Whether you see strict incident reporting as essential or burdensome, GRC can make the process more efficient. Automated incident response platforms can help you detect, analyze, and report incidents quickly and accurately. This reduces the manual effort required and ensures compliance with NIS 2 requirements.   In addition, machine learning algorithms can help you filter out false positives and focus on genuine threats, easing the burden of reporting minor incidents.   Balancing Cost and Innovation If you're worried about the high cost of compliance hindering innovation, consider that GRC can drive cost savings in the long run. By automating security processes, you can reduce the need for manual intervention, freeing up resources for innovation.   Moreover, cloud-based security solutions often offer lower total cost of ownership. By eliminating the overhead of technical resources and assets, they're more affordable for smaller businesses. This allows you to invest in security without breaking the bank, leaving room for innovation and growth.   Leveraging GRC The EU NIS 2 Directive may be polarizing, but GRC offers solutions for both sides of the debate. Whether you're a small business concerned about the scope, struggling with incident reporting, or worried about the cost of compliance, GRC can help you overcome these challenges.   By embracing innovative solutions, you can not only comply with NIS 2 but also enhance your overall security posture and drive innovation. Instead of viewing NIS 2 as a burden, consider it an opportunity to leverage GRC for a safer and more resilient future.   For more information on the EU NIS 2 Directive, read the Gartner® report “Quick Answer: How to Effectively Prepare for NIS 2 ,” compliments of Archer for a limited time.   We also encourage you to speak with one of our experts  to explore how Archer can support you in initiating or advancing your operational resilience program.      GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.   Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Without effective policy management, organizations face significant challenges. Inadequate management of critical content can lead to outdated or inconsistent policies, creating confusion and increasing the risk of non-compliance with external and internal policies. This makes it challenging to meet regulatory demands and can lead to discrepancies during audits, resulting in penalties and reputational damage. The inability to quickly adapt policies in response to new regulations can leave enterprises vulnerable to legal and financial risks. Effective policy management is not just a choice; it's necessary for enterprises striving to maintain compliance and mitigate risk. The ability to efficiently manage critical content using robust workflows and advanced editing capabilities is vital; it's a comprehensive solution. This ensures that policies are always up-to-date and aligned with current regulatory demands, enabling organizations to swiftly respond to new requirements and pass audits with confidence. By adopting a comprehensive policy management strategy, enterprises can streamline their processes, enhance governance, and safeguard their reputation in an increasingly complex environment. The solution is to adopt a centralized policy management system that includes workflows to streamline the review and approval process, ensure version control to keep track of changes and ensure consistency, and robust editing capabilities to facilitate all policy updates. This strategy not only ensures that you are securely managing your critical documents and keeping your policies up to date, but also significantly reduces the risk of non-compliance and improves overall operational efficiency. With this system in place, you can rest assured that you have a reliable and scalable solution to navigate the complexities of changing policies and regulations. We're excited to announce that Archer Document Governance is now integrated with Archer, offering a seamless policy user experience. Archer customers who have Document Governance will be automatically logged into Document Governance when they are logged into their Archer instance, making policy creation a breeze. With Document Governance, you can effortlessly ensure you have a robust governance process managing your critical documents and effectively managing your policies. Features at a Glance Modern policy life cycle management dashboard Archer authentication for seamless login to Document Governance Approval workflow and Archer record creation Collaborate to draft policy content Benefits Streamlined policy program management Maintain a clear chain of custody throughout the policy lifecycle Respond to audit requests promptly Improved control and compliance across critical documents and content Contact us  to learn more about how Archer Document Governance can securely manage your critical documents and policies.

Where were you during the unprecedented global IT outage of July 2024? If you were traveling by air — or planning to — you experienced firsthand the far-reaching impacts of the outage felt across the globe. Sectors like healthcare and banking were also significantly affected, leading to a halt in non-critical operations. Insurers are currently calculating the financial ramifications, estimating around $5 billion in direct losses for Fortune 500 companies alone. This outage serves as a stark reminder of the critical importance of robust enterprise risk management and offers valuable lessons to fortify your organization’s defenses against future disruptions. Recognize your reliance on external providers The outage underscored how heavily businesses depend on external providers for vital services, particularly in cybersecurity. Many organizations found themselves exposed to potential cyber threats, highlighting the critical need for comprehensive contingency plans and redundant systems to mitigate the impacts of service disruptions. This incident emphasized the risks associated with outsourcing essential functions to third-party vendors, which necessitates thorough assessments of vendor reliability, security practices, and their contingency plans.   Understand the potential impact of disruptions on your operations During the outage, many businesses faced significant challenges, including disrupted operations and compromised security postures. This illustrated why organizations must anticipate operational impacts and develop strategic alternatives to ensure business continuity during such disruptions.   Effective business continuity planning should encompass comprehensive strategies that maintain operations amid unforeseen challenges — from identifying critical business functions to establishing clear communication channels and maintaining escalation protocols for prompt and efficient issue resolution. Integrating third-party risk considerations into these plans is equally essential, which involves identifying backup vendors and ensuring seamless communication.   Ensure continuity with proactive planning Organizations that had well-prepared contingency plans, including alternative solutions or backup measures, fared significantly better during the outage. This experience emphasizes the value of proactive risk assessment and resilience planning for maintaining operational stability in the face of unexpected service interruptions. Resilience planning should involve clearly identifying critical business functions, establishing effective communication channels, and implementing robust escalation protocols to address issues promptly.   Undoubtedly, this outage exemplifies the interconnected nature of modern business operations and the vital role of risk management in ensuring resilience. Risk management professionals must take proactive steps to manage third-party risks, develop comprehensive business continuity plans, and foster resilience strategies that minimize the impact of service disruptions. By doing so, you can better protect and sustain your operations in the face of unforeseen challenges. Learn how Archer can assist you in building operational resilience and optimizing vendor risk management for your organization. Contact us or request a demo today.