Using Third Party Catalog

This topic describes the Third Party Catalog processes

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The Archer Third Party Catalog use case is built to enable the following processes.

Third Party Catalog Swim Lane Diagram

Documenting Third Parties

The Archer Third Party Catalog use case allows you to document your organization's third party relationships at 3 levels: third party, subsidiary, and sub-subsidiary. The Third Party Profile application is a central repository of all your third parties and includes key aspects of third party relationships, such as relationship contacts, third party external contacts, status, and locations of operation.

The Third Party Management dashboard provides the executive team with a centralized location for up-to-date reports related to third parties. Review this dashboard for critical third party information, such as third party performance rating and contracts that are active or expiring. This dashboard gives the executive team insight on which items require immediate action.

Tracking Third Party Engagements

The Engagements application allows you to manage each engagement you have with a third party. A third party may provide multiple products and services to your organization, and engagements help you keep track of each unique product or service. You can also link business units to engagements to record the business context of your third party relationship.

Managing the Contract Life Cycle

Use the Contracts application to manage a contract through its life cycle. A contract is based on an engagement with a third party. The Contracts advanced workflow allows you to create new contract records, assign key stakeholders, and complete a review process by your Procurement / Legal Officer.

Here are the tasks to manage the Contracts life cycle:

  1. Document a new contract.

  2. Make any necessary adjustments to the contract record and submit the record for approval.

  3. Review the contract and determine whether to reassign stakeholders, approve the contract, reject the contract, or cancel the contract.

  4. Renew an expired contract and enroll the contract in advanced workflow to initiate the contract review process.

  5. Associate a contract to a third party profile.