Home > Risk Management Software > Workiva > Workiva vs RSA Archer

Workiva vs RSA Archer

Last Updated: November 18th, 2024

Our analysts compared Workiva vs RSA Archer based on data from our 400+ point analysis of Risk Management Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Workiva is a cloud-based reporting platform that globally connects an organization’s workforce with its data sets and data sources. It combines all user data under a single digital roof to remove any errors and ensure complete transparency. Provides automatic and secure scheduling of repetitive tasks and recycles redundant data and reports into functional assets. It allows users to visualize data relating to ERP, consolidation, compliance, security, budgeting and more by connecting everything under one secure reporting module.

A live-updating dashboard with a code-free interface allows for easy analysis and data reporting. It auto-updates linked cross-organizational data for a seamless reporting experience.

RSA Archer provides enterprise solutions to manage governance, policies, deficiencies, risk and compliance. Its interface allows even entry-level users to integrate external technologies , explore a broad range of functions, automate business processes, streamline critical workflows and configure the interface for better data visualization, reporting and analytics. Organizations can automate task ownerships, escalate essential issues and control user access at various escalating levels.

Supports on-premise deployment or a SaaS model with localized multilingual support for global use. It provides seamless data integration for collaboration across different teams and environments.

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Product Insights

Centralized Data Storage: Store all internal control tests and documents in one centrally accessible database.
Automated Reports: Save a ton of time and resources with built-in automation for regulatory and financial reporting processes.
Intuitive Accounting Interface: Employees can adjust faster to the accounting module due to the platform’s visual and functional similarity with Word and Excel.
Fast Data Access: Quickly access all necessary data and reports from anywhere within the U.S. Instantaneously update all changes throughout the server and eliminate inconsistencies in datasets.
Easy Data Sync: Automatically update data across multiple documents in real time by linking to each other. Save time spent on manual edits and deduplication.

360-Degree Risk View: Secure points of vulnerability with a loaded risk management strategy that incorporates environmental social and governance (ESG) initiatives and covers all business areas.
Flexible Analysis: Readily customize the platform to focus on specific risk areas and adapt to changing needs.
Common Risk Language: Improve visibility, collaboration and efficiency across risk management departments with a common risk language.
Build Resilience: Look past recovery options and invest in business resilience with integrated continuity and disaster recovery procedures.
Real-time Tracking: Track identified risks, remediation measures and workflows directly from the dashboard with data visualization.

Enterprise Risk: Get a 360-degree picture of risk with dedicated assessment and remediation capabilities. Generate reports and perform internal audits to make informed business decisions.
- Risk Assessment: Track and assess risks in real time. Prepare risk assessment spreadsheets and act on critical risk information first.
- Aggregation and Analysis: Correlate and analyze multiple data sources to find the complete context behind risk information. Categorize risks by datasets like historic risk ratings, risk owners, pillars and more.
- Risk Prioritization: Prioritize critical risk throughout the environment with key risk indicator (KRI) information.
- Risk Reporting: Create up-to-date risk reports with data visualization options. Combine information from KRIs and risk owners with heat maps, graphs and scatter and bubble charts to prepare reports on enterprise risk.
Internal Audit Management: Streamline the auditing process with custom templates and automated evidence gathering, certification, reporting and planning tools. Access relevant data, manage audits and follow up on tasks.
- Audit Analytics: Automatically populate audit reports in a no-code environment to highlight any exceptions.
- Templates: Process audits faster with over 3,000 purpose-built AuditNet templates.
- Audit Reporting: Increase stakeholder and audit committee engagement with personalized audit reports. Tailor reports accordingly by elaborating on specific details.
- Follow Up: Automatically drill down into complicated reports to elaborate on observations and recommended courses of action.
Policy and Procedure Management: Manage policies and procedures across the entire organization. Maintain an up-to-date inventory of auditable policies and procedures.
- Policy Indexes: Correlate policies with regulations, controls, processes and risks to create an interconnected and centralized master index. Standardize policies with templates and automatically update changes.
- Review Permissions: Review and edit documents directly from the platform. Streamline the review process with automated assessments and audits.
- Document History: Track all edits to policy documents with full version history. Send documents for bulk approval and leave comments and reviews within the content.
- Attestation Tracking: Track policy status, link current document versions and schedule deadlines. Sign and approve policies from any device and export records for auditing purposes.
Internal Controls: Improve the visibility and security of risk information with internal controls. Allow risk and control owners to make updates with full transparency.
- Documentation: Implement role-based permissions to control access to information. Review, edit and update files in their native formats with the Microsoft Office 365 integration. Instantly visualize updates by linking data fields to narratives and flowcharts.
- Testing: Perform random sampling tests with single or bulk tasks. Monitor test progress, attach samples and communicate results from the dashboard. Automatically corroborate evidence and track response.
- Reporting: Run convenient and tailored reports for data fields including issues tracking, COSO mapping, status reporting and more. Deliver accurate risk information to senior management, business partners and stakeholders.
- Certification: Leverage letter templates, customizable certificates and reminders to establish an efficient certification process. Sign and approve certificates from any device with an internet connection.
FERC Reporting: Meet the Federal Energy Regulatory Commission’s (FERC) standards with accurate and prompt XBRL tagging. Work on connected datasets in real time to eliminate errors. Supported forms include electric (Form No. 1, 1-F, 3-Q, 714), gas (Form No. 2, 2A, 3Q), oil (Form No. 6, 6-Q) and service companies (Form No. 60).
SEC Reporting: Streamline the preparation and filing of proxy statements, tax disclosures, 10-Qs, 10-Ks, 8-Ks, 20-Fs, Section 16 and more. Comply with European regulations like Solvency II, CIPC, IFRS and more. Link datasets to narratives and consolidate both structured and unstructured information with EDGAR and XBRL services.
Capital Market Transactions: Implement a greater degree of control over debt, equity, IPO and M&A deals. Prepare documentation for capital market transactions, mergers, acquisitions, debt-offerings and take-private deals with preconfigured workflows.
- Speed and Accuracy: Link numbers and texts across multiple files to process transactional documentation faster. Streamline the evaluation process by automatically creating review, sign-off and commentary tasks within documents and reports.
- Risk Reduction: Eliminate inconsistent numbers, version inaccuracy and certification errors with a single consolidated data source. Maintain accountability, security and transparency with complete version history and permission-based access.

Limitations

At the time of this review, these are the limitations according to user feedback:

Users located outside the US can experience latency issues in the SOX module.
The NextGen platform has a few incomplete features and bugs.
Involves a steep learning curve.
High subscription charges.

Suite Support

Visit the vendor’s support center to learn more about using the platform; online resources include patch notes, beginner’s guides, articles, hot topics and transition assets. The community forum hosts discussions, events, webinars and feedback.

Email: [email protected].

Phone: (800) 706-6526. Additional phone numbers for customers in other regions are available on the vendor’s website.

Training: Log in to the vendor’s website to access the Learning Hub. Online training is available in the form of guided courses, videos, newsletters and simulations.

Tickets: Visit the vendor’s website to submit a support ticket.

Application Builder: Build custom applications via simple point-and-click setup. Streamline workflows, implement controls, automate operations, run reports and do more, according to the organization’s methodologies and business objectives.
Dashboard and Reports: Customize the dashboard interface and run reports with preconfigured templates. Use keyword search to review risk and compliance ratings.
Business Workflow: Automatically manage tasks, reviews, approvals and statuses. Create custom workflows to assign tasks based on the administration’s obligation, prioritization and escalation policies. Use the advanced workflow engine to define processes as flowcharts.
Role-Based Controls: Implementing role-based controls to limit access to application, system, record and field data.
Integration: Integrate with various third-party applications to manage governance, risk and compliance from within the same platform. The Archer GRC Community provides access to multiple pre-configured applications and integrations.
Data Visualization: Run reports to find hidden connections between risks and incidents. Visualize relationships to predict future risks and make data-driven decisions.
Global Support: Process multiple languages with double-byte character support. Deploy the platform in numerous regions and languages.

Product Ranking

#9

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#31

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Analyst Rating Summary

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User Sentiment Summary

92%

of users recommend this product

Workiva has a 'excellent' User Satisfaction Rating of 92% when considering 587 user reviews from 3 recognized software review sites.

80%

of users recommend this product

RSA Archer has a 'great' User Satisfaction Rating of 80% when considering 143 user reviews from 4 recognized software review sites.

4.6 (58)

3.8 (17)

4.6 (36)

4.1 (9)

4.6 (493)

4.1 (98)

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3.5 (19)

Awards

Synopsis of User Ratings and Reviews

Functionality: 69% of users who reviewed this aspect were satisfied with the platform’s functionalities, including internal controls and issue Testing, SOX narratives, auditing, and policy management.

Ease of Use: According to 61% of users mentioning this element, the platform’s intuitive UI makes it easy to use.

Sharing and Collaboration: All the users who mentioned this element said the platform made it easier to share documents and collaborate on projects.

Service and Support: 83% of users reviewing customer support said it’s highly responsive and knowledgeable.

Automation: 100% of reviewers mentioning automation found it helpful to learn and apply new formats and automate financial and regulatory processes.

Centralized Risk Management: Provides a single platform to manage various types of risks, including IT, operational, third-party, and compliance risks, offering a holistic view of an organization's risk landscape.

Flexibility and Customization: Caters to diverse risk management needs with its flexible framework and customizable features, allowing organizations to tailor the platform to their specific requirements and workflows.

Advanced Reporting and Analytics: Offers robust reporting and analytics capabilities, enabling organizations to gain insights into their risk data, identify trends, and make data-driven decisions to mitigate risks effectively.

Compliance Management: Supports compliance with various industry regulations and standards by providing tools for managing policies, controls, and assessments, helping organizations meet their compliance obligations.

Integration Capabilities: Integrates with other business systems and applications, such as GRC platforms, vulnerability scanners, and threat intelligence feeds, to streamline risk management processes and improve data accuracy.

Speed and Performance: 100% of users mentioning performance said they experienced bugs, glitches and slow upload and export speed on the NextGen platform.

Cost: All the users who reviewed this aspect found the system’s subscription charges higher than its competitors.

Training Resources: 60% of users mentioning this element said the platform requires more training material to compensate for its steep learning curve.

Usability Challenges: Users frequently mention a steep learning curve due to the platform's complexity and lack of intuitive design, leading to frustration and decreased efficiency. Archer's interface can feel clunky and outdated, hindering user adoption and requiring extensive training for new team members.

Reporting Limitations: Generating reports can be cumbersome and time-consuming, often requiring manual data manipulation or custom scripting. While Archer offers reporting capabilities, they may not meet the specific needs of all organizations, leading to reliance on external tools or workarounds.

Customization Complexities: Tailoring Archer to specific workflows and requirements can be challenging and may necessitate specialized technical expertise. The platform's flexibility can be a double-edged sword, as extensive customization can introduce complexity and increase maintenance overhead.

Performance Concerns: Some users report performance issues, particularly with large data sets or complex configurations, leading to slow response times and decreased productivity. As the volume of data and users grows, Archer's performance may become a bottleneck for risk management operations.

Workiva is a cloud-based comprehensive reporting platform that provides unrestricted global access to FERC and SEC reporting modules, internal controls, and audit and policy management tools for complete in-house risk management. The platform can be difficult to learn initially, but a responsive support team makes it easier to understand the functionalities. In addition, automated reporting processes add a lot of value to the platform. However, the NextGen platform has a few performance issues. Updates can cause temporary glitches and bugs, resulting in unforced errors in datasets. All in all, Workiva is a safe bet for vulnerability management software. In spite of high subscription costs, it’s an excellent candidate if you can fit it into your budget.

RSA Archer is frequently lauded for its comprehensive approach to risk management. It provides a centralized platform where organizations can identify, assess, and mitigate risks across various domains, including IT, finance, and operations. Users appreciate the ability to consolidate risk information from different sources, creating a holistic view of their risk landscape. This comprehensive approach is particularly valuable for organizations with complex risk profiles or those operating in highly regulated industries. Additionally, RSA Archer's scalability allows it to adapt to the needs of organizations of all sizes, making it a versatile solution for growing businesses. However, some users note that RSA Archer's extensive features can lead to a steeper learning curve compared to simpler risk management tools. Implementing and customizing the platform may require dedicated resources and expertise. While RSA Archer offers robust capabilities, its strength can also be its weakness for organizations seeking a more straightforward solution. Despite this, RSA Archer remains a top choice for organizations that prioritize a comprehensive and scalable risk management approach. Its ability to provide a centralized view of risk, automate workflows, and facilitate compliance makes it well-suited for businesses seeking to mature their risk management programs and navigate the complexities of today's ever-evolving risk landscape.

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