Archer Announces Acquisition of Atlas to Expand Policy Management Capabilities

Rhea-AI Summary

Archer, a leader in integrated risk management solutions, has acquired Atlas, a provider of workflow and content governance software, previously part of numo, a fintech incubator under PNC Financial Services Group. This acquisition aims to enhance Archer's existing solutions, particularly in Policy Program Management and Regulatory Compliance. The integration of Atlas's capabilities is expected to improve document governance, streamline the management of critical documents, and enhance efficiency. Archer plans to leverage these features to address market demands for better control of policies and documents, ultimately enhancing risk management practices.

Positive

• Acquisition of Atlas enhances Archer's capabilities in document governance.
• Integration expected to streamline Policy Program Management and Regulatory Compliance.
• Potential to improve efficiency in managing critical documents.
• Addresses market demand for better content governance.

Negative

• None.

OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Archer, the leading provider of integrated risk management solutions, announced it has acquired Atlas, an innovative provider of workflow and content governance and collaboration software. Atlas had previously been part of the numo llc, a fintech incubator and subsidiary of The PNC Financial Services Group, Inc. The acquired capabilities will initially be applied to bolster current Archer solutions around Policy Program Management and Regulatory and Corporate Compliance Management, both of which will benefit significantly from increased coverage of policy and content creation, publication and management.

“We are very excited to continue the expansion of the Archer platform through the acquisition of the Atlas capabilities around policy and document creation and management,” said Bill Diaz, CEO of Archer. “We are leveraging this technology to launch a set of document governance features that address the need for enhanced control of the critical documents that drive business operations, and as a result should be managed as part of an overall risk management process.”

Atlas was created to address the need for better content and governance control over policy and procedure management than what is currently available from other commonly used tools. The use of multiple platforms for managing policies and other critical documents can cause inefficiencies and inaccuracies for organizations trying to keep content in sync, work across multiple teams, and be able to respond quickly and effectively to audits.​ Collaboration platforms, word processing software and email don’t provide effective and comprehensive solutions for controlled editing and tracking document versions, driving approval workflow, seeing the real-time status of the review process, or capturing detailed, auditable change records.

“Policies are risk documents, the very fact that there is a policy means there is uncertainty/risk that needs to be governed and controlled through risk management,” said Michael Rasmussen from GRC 20/20. “Currently, many organizations struggle with challenges such as policies scattered on different portals, lack of a consistent template and writing style for policies, and lack of strong audit trails around what policies have been communicated or accessed for training. Archer’s acquisition of Atlas brings together capabilities that can help address these challenges with strong solutions for mapping individual policy requirements to controls in an enterprise-wide manner.”

Archer Document Governance delivers to customers a number of enhanced use cases, including Enterprise Policies, Operating Procedures, and Audit Workpapers, all of which can help accelerate review and approval workflows, maintain a single source of truth for critical documents, and even improve the speed and accuracy of responding to audit requests. These capabilities will be integrated with existing the Archer Policy Program Management solution, but will also expand well beyond policies to deliver improved control and compliance across a broad range of key documents and content that drive today’s complex businesses.

“This is an exciting next step for Atlas and its talented team, who’ve built an impressive platform that will have a significant impact as part of the Archer ecosystem,” said David Passavant, CEO of numo. “At numo, we remain committed to incubating high-impact technologies – just like Atlas – that meet immediate market needs."

To learn more about Archer Document Governance, please visit www.archerirm.com/document-governance.

About Archer

Archer is a leading provider of integrated risk management solutions that enable customers to improve strategic decision-making and operational resilience with a modern technology platform that supports qualitative and quantitative analysis driven by both business and IT impacts. As true pioneers in GRC software, Archer remains solely dedicated to helping customers manage risk and compliance domains, from traditional operational risk to emerging issues such as ESG. With over 20 years in the risk management industry, the Archer customer base represents one of the largest pure risk management communities globally, with more than 1,200 customers including more than 50% of the Fortune 500.

About numo

numo is a fintech incubator and subsidiary of The PNC Financial Services Group, Inc., based in Pittsburgh. A new model for corporate-backed innovation and entrepreneurship, numo identifies opportunities and builds fintech products from the ground up, leveraging in-house capabilities that span research, product design, software development, sales and marketing, with the intent of spinning out viable, standalone companies. For information about numo, visit numo.com.

About PNC

The PNC Financial Services Group, Inc. (NYSE: PNC) is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230207005236/en/

Ben Desjardins

Archer

ben.desjardins@archerirm.com

Source: Archer

FAQ

What is the purpose of Archer's acquisition of Atlas?

The acquisition aims to enhance Archer's document governance capabilities and improve existing solutions in Policy Program Management and Regulatory Compliance.

What impact will the acquisition of Atlas have on Archer's offerings?

It is expected to improve efficiency in managing critical documents and provide stronger solutions for policy and document control.

When was the acquisition of Atlas by Archer announced?

The acquisition was announced on February 7, 2023.

How does the Atlas acquisition relate to PNC?

Atlas was previously part of numo, a fintech incubator and subsidiary of PNC Financial Services Group before being acquired by Archer.

What are the anticipated advantages of Archer Document Governance?

Archer Document Governance aims to accelerate review workflows, maintain a single source of truth for critical documents, and improve response times to audits.