Crossword Cybersecurity Plc (AIM: CCS, “Crossword”, the “Company” or the “Group”), the technology commercialisation company focused on cyber security and risk, has today announced that Barron McCann, the IT Services company, will use Rizikon Assurance to automate their supplier onboarding process. This announcement comes off the back of the launch of the second version of Rizikon Assurance in September 2019.
Barron McCann will use Rizikon Assurance to provide a holistic risk overview of their top 250 suppliers, in order to mitigate the potential risks originating from their supply chain. Rizikon Assurance automates the supplier onboarding workflow, provides standardised questionnaires, and offers a scalable secure centralised platform for the collection, review and sharing of compliance data. Rizikon Assurance will replace manual, time consuming and resource-intensive supplier management workflows that Barron McCann currently has in place, helping them to assess and visualise the risk of each supplier more effectively and efficiently, whilst also identifying risks in their supply chain as a whole.
Barron McCann will take advantage of the new, fully customisable features that Rizikon Assurance has to offer, including leveraging the scorecard module that provides a 360-degree view of risk across their supply chain. Bespoke scorecards will be generated that will visualise Barron McCann’s suppliers’ current level of risk across multiple, relevant dimensions.
Richard Johnson, Leader for Procurement & Supply Chain at Barron McCann, commented: “The solution developed by Rizikon Assurance will become one of our key tools in identifying, quantifying and managing the risk and compliance with our suppliers and service providers. The customisable nature of this system has enabled Barron McCann to focus the attention on the areas which are of the greatest significance to our business. The Rizikon Assurance system will enable Barron McCann to re-evaluate our supply base more frequently, efficiently and effectively than ever before.”
Jake Holloway, Chief Product Officer, responsible for Rizikon Assurance, commented: “We are delighted to work alongside Barron McCann to catalyse their supplier onboarding and third-party risk management. There are many challenges for organisations with complex supply chains when managing third-party assurance risk. Technology can play a key role in giving risk and compliance professionals the control and visibility they need, moving risk compliance from a siloed and reactive activity, to a connected, proactive continuous process that delivers a complete view of third-party risk. Third-party assurance is particularly important for IT services companies, which outsource to other organisations. By taking proactive measures to mitigate third-party risk, as Barron McCann has done, this prevents cyber-crime from flowing further up the food chain. Crossword is now really getting traction with business customers for Rizikon Assurance. Every business needs to do a better job of third-party risk management – and we believe that we have a unique system that helps them take control.”