Crossword Cybersecurity Plc (AIM:CCS, “Crossword”, the “Company” or the “Group”), the technology commercialisation company focused solely on cyber security and risk, is pleased to announced the launch of Rizikon Assurance Professional Edition (“Rizikon Pro”), a new edition of its supplier assurance and third party risk management platform aimed primarily at small and medium sized organisations.

Crossword has demonstrated Rizikon Assurance’s value within large and complex enterprises, with a client base in sectors as diverse as nuclear and professional services. It recognises that smaller organisations have the same third-party risk imperatives as larger enterprises, but with less complex needs, and often lack in-house risk management expertise. Rizikon Pro is an out-of-the-box, online SaaS solution, offered on a pay-as-you-go basis, giving smaller organisations access to a set of core easy-to-use supplier assurance platform features, at lower cost. Modules can be chosen according to need, meaning customers only pay for the features they use, and can be expanded as required. Crossword anticipates a rapid roll out to a wider client base over the coming year.

Rizikon Assurance is a secure, encrypted portal which puts organisations in control of managing risks in their supply chain. COVID-19, Brexit, and a host of Environmental, Social and Corporate Governance (ESG) matters, have highlighted weaknesses within supply chains, raising awareness of the financial, regulatory, and reputational risks organisations indirectly carry. Rizikon Assurance contains standard questionnaires on subjects such as cyber security, GDPR, supplier on-boarding, modern slavery, anti-bribery & corruption, and soon to be released diversity and equality assessments. Customers also can create their own question sets and scoring approaches, enabling a 360-degree view of supply chain risk in a single pane of glass. Rizikon Assurance improves the scalability, security and auditability of third-party assurance and due diligence through its automated, centralised and encrypted platform.

Sean Arrowsmith, Group Sales Director, of Crossword, commented; “Recent global events including COVID-19, Brexit, trade wars and ESG matters are drawing attention to the importance of supply chain management, and shining a torch on poor resilience, and the unknown risks organisations are carrying in their supply chains. The release of Rizikon Pro addresses the demand from smaller organisations to assess supply chain risk in a cost-effective way, helping them identify where to invest resources to reduce risk and build resilient supply chains, with the same success as our enterprise customers.”