The Crossword brief from NUVIA - What did we ask you to do?
NUVIA engaged with Crossword Cybersecurity to use Crossword’s Rizikon Assurance platform to digitise NUVIA’s supply chain assurance. Previously, NUVIA had been issuing supplier pre-qualification questionnaires via MS Word and completing the assessment of the returns on Excel spreadsheets, manually scoring them and stretching resources in order to deliver supplier assurance.
NUVIA supplied Crossword with their supplier onboarding assessment and scoring and this was put into the system to create a faster more efficient way to assure their supply chain. The aim was to provide a single point to monitor risk and prove that basic assurance checks had been carried out on NUVIA’s supply chain.
Rizikon Assurance is a Software-as-a-Service (SaaS) platform that enables enterprise companies to assess the Risk and Assurance of their suppliers. Rizikon covers many diverse areas of risk, such as financial checks with the use of CreditSafe, all the way through to Cyber Risk, Modern Anti-Slavery and Corporate Social Responsibility - the list is endless. The aim of the solution is to move away from siloed risk and to get the business to look holistically at all areas of risk in one place and make an informed business solution on assuring the Supplier to the highest standards.
Rizikon Assurance puts all this information into easy to use supplier scorecards and dashboards that are key to building a supplier assurance framework.
The benefits to NUVIA
Speeds up the onboarding process, reducing the time involved for completing the assurance process.
Helps the business compile all their supplier risk information into one place for key stakeholders to view.
Provides automated scoring and assessment reports to give a quick indication of risk areas from a supplier, highlighting areas of concern for NUVIA.
Demonstrates compliance against NUVIA’s procedures and helps maintain an up to date record of supplier details for their approval validity period.
Demonstrates a clear auditable trail of approval of the Suppliers by Suitably Qualified and Experienced (SQEP) individuals.
Tracking of key dates for issuing, returning and completion of the assessment allows measurement against internal Key Performance Indicators (KPI’s).
The benefits to the Supplier
The process of completing the assessments is sped up dramatically as it only asks the questions that are relevant.
The Supplier can share questions with colleagues stopping the need to compile answers or wait for others to complete their questions in order to continue your own.
The Supplier can ask NUVIA questions for clarification, speeding up the communication between NUVIA and the Supplier in turn making the process more efficient.
NUVIA can share the results of the assessments to help suppliers get better and fix any issues highlighted in the process.
All assessments are sent to the Supplier in the one centralised platform, allowing them to monitor the progress of eacheasily.
Potential future developments
NUVIA are to investigate automatic updates from Crossword which will enable NUVIA:
to migrate information onto NUVIA’s internal supplier approval database,
to look at other subject matters and other areas of NUVIA’s supply chain that can be assessed for risk in their suppliers,
to work with Crossword on using their other links such as CreditSafe and cybersecurity integrations to look at cyber threats within their supply chain,
to work with Crossword to configure their supplier scorecards to show key risk information for each supplier at a glance.
Contact us for more information about how we can help your company as well.