what if there was a way..
To see all of your third-party risks - of any kind - in one easy to understand, 360-degree Board-friendly view? Your key suppliers perhaps, or most business-critical partners?
At the moment most organisations approach third-party risk in a mix of ways. Looking up suppliers on a Company Credit checker. Sending out PDFs full of possibly out-of-date questions. Asking the cyber security team to send their Cyber questions as well. Maybe for the top few, a more detailed inspection.
This approach doesn’t scale, isn’t secure and doesn’t give you a single view of third party risk across cyber, GDPR, Modern Slavery, credit-worthiness or any other area of risk or regulation you are concerned with. It doesn’t give you enough control.
To solve this problem, we have created Rizikon Assurance. A scalable platform that gives you a Third-party Assurance portal, a mix of Standard Assessments and your own Custom Assessments to use, a logical Completion-Submission-Review workflow, and now optional integration with 320 Million Company records and Credit ratings from Creditsafe and our unique Third-party Scorecards based around our 5X5 third-party criticality ratings.
Rizikon Assurance Scorecard shows you every assessed risk as well as key information for each of your Suppliers or Third parties in a single glance. The scorecard can show scores and data extracted from all of your Rizikon Assurance Assessments, and/or Creditsafe company information and credit ratings, and/or directly entered values where they’re required. A client may have as many Scorecards as needed with different layouts. Once a supplier is Risk assessed, and their Impact level entered they will automatically have a Criticality score from 1 to 25. This Criticality score allows you to view, organise and prioritise your third parties. All risk scoring calculations are fully customisable - so you can model your own risk appetite within Rizikon Assurance.
Risk assessments can contain highly sensitive information and attachments and paper or email based systems are both insecure and hard to audit, allowing information to be easily changed and shared outside the intended recipient.
Rizikon Assurance is encrypted, secure and easily auditable. Only approved users can access the assessments, and submissions are kept secure in the portal with no need to manually choose a recipient.
Stored and readily available for as long as you need, for only the people that need it.
It is difficult to ensure all Suppliers are assessed with the latest question set, appropriate to their level of risk, and overstretched assurance departments also make more mistakes.
Automated marking in Rizikon provides accurate, reliable, and consistent scoring as an initial guide to the Assessor – speeding up approval, particularly for low and medium risk Suppliers or third parties.
Instant question set updates across all live assessments, and streamlined creation for new ones, mean that no supplier is left behind or overlooked.
Reporting & Analytics
Accessing data on suppliers is difficult when everything is in scanned documents, PDFs, and has several versions passed around or kept in separate files and folders.
Rizikon gives accurate, up-to-date reporting across all live and historic assessments, allowing for effective supply-chain assurance KPI reporting and metrics, putting you in control while you scale up without needing additional resources.
Use your supplier data intelligently.