Archer CEO Bill Diaz addressed these three terms in his keynote at Archer Summit 2023. Bill was speaking about the mindset necessary for chief risk officers and risk teams need to adopt for success in today's operating environment.
Coincidentally, I couldn't think of three better words to describe the mindset of the many people that we work with day in and day out, including our customers, our partners, executives and risk professionals working inside organisations that are looking for solutions to improve their programs. We listen and we understand the challenges they face, as well as the opportunities they want to harness.
These terms also reflect the changing appetite for risk technology in the India market.
We see organisations across all industries looking for risk technology that demonstrates:
Agility -- the ability to reach multiple audiences and have the solution bend and shape to their needs.
Resilience -- risk technology delivered in a resilient manner (i.e. secure and highly available) but that also delivers workloads that enable resilience in the organisation itself (e.g. enterprise risk management, cyber risk management, third party risk management).
Foresight -- solutions that fuse global best practices, emerging practices (such as risk quantification and ESG) and emerging technology (such as AI) that also cater to local requirements (such as in-country cloud).
In March 2023, Archer announced investments it was making in India, including doubling of our local account and solutions consulting team and plans for a new SaaS data center in India.
Today, we’re pleased to launch the newest data center for Archer SaaS in India, which enables us to address the requirements of our customers in the region. SaaS adoption is climbing quickly, with the Indian SaaS ecosystem already the second largest globally. The Indian economy set to become the third largest globally by 2030 and the demand for SaaS based risk technology has never been higher.
Local regulators, including SEBI and the RBI, expect organisations doing business in India to have increasingly robust risk and IT governance programs, while ensuring their critical IT systems are secure and onshore. These capabilities are now must haves.
The Archer team in India is proud to enable risk management excellence for many Indian organisations. We are actively working with multiple marquee Indian customers in financial services and IT/IS to already run risk workloads in the cloud and to migrate some on-premises deployed customers to Archer SaaS.
To learn more about Archer SaaS in India, please register your interest here.