Why have we created Rizikon Assurance?
Every day there is a new report of a third party (often a supplier) causing financial, reputational or regulatory harm. It could be a data breach, an issue with child labour, a missed delivery date, or a safety problem. Pressure to improve third party assurance & risk management is coming from Regulators, Auditors, Risk & Compliance, even Customers & Investors. This usually means doing more Assessments and proving that all Third parties are risk-assessed in an appropriate manner.
What does Rizikon Assurance do?
Rizikon Assurance helps organisations take control of third party risk with secure online assessments in your own branded portal, 360 risk scorecards, a Dashboard of the risk across all suppliers and a host of other features and standard questionnaires. The built-in Standard Assessments on topics like cybersecurity, GDPR, modern slavery, anti-bribery & corruption can be combined with your own tried and tested question sets. It seamlessly integrates with Creditsafe to provide data and credit risk ratings on over 320 Million companies globally; building up a complete view of all risks from third parties.
Scorecards allow you to see all risks for each of your third-parties with combined risk information from the Assessments you have sent out on multiple topics, as well as data from Companies House and credit-scoring from Creditsafe. Scorecards give you an at-a-glance 360 view of third-party risk in your terms because each scorecard segment and weighted risk calculation can be defined by you.
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.
An Online System that Improves Third-party Assurance and Risk Management through efficiency, automation and better visibility