Nuvia Ltd automated its supply chain assurance processes with Crossword's Rizikon Assurance platform, resulting in faster supplier onboarding and a clear auditable trail to help demonstrate regulatory and procedural compliance.
Nuvia is a leading international engineering, project management and services provider to the highly regulated nuclear, defence, oil and gas, and science and research industries. As such they work with a huge number of suppliers and partners and are committed to following secure, efficient and compliant supply chain risk management processes.
Previously, Nuvia’s third party assurance process involved issuing supplier pre-qualification questionnaires via MS Word and completing the assessment of the responses on Excel spreadsheets by manually scoring them.
These manual processes were time consuming for Nuvia staff and their suppliers and at risk of human error. It was difficult to keep track of suppliers and their responses and there was no clear audit trail to indicate where updates had been made or current risk status.
Automated, efficient supplier assessments
Nuvia implemented the Rizikon Assurance online platform to help them automate the process of supplier onboarding assessments and scoring.
Rizikon enables Nuvia to enter and manage their supplier details and risk assessments in one place. The platform contains a comprehensive range of supplier assessment questionnaires covering areas of risk such as cyber security, Modern Anti-Slavery and Corporate Social Responsibility, as well as financial checks with the use of CreditSafe.
By sending supplier assessment questionnaires through the Rizikon platform, Nuvia can keep track of supplier responses quickly and easily. Rizikon’s automated scoring and assessment reports give an instant indication of risk from each supplier and highlight areas of concern.
The solution makes life easier for suppliers too. Suppliers receive and complete questionnaires through Rizikon. They can also share specific questions with colleagues via the platform, which means they no longer need to compile answers or wait for others to complete their questions in order to continue their own.
Suppliers can also ask Nuvia questions for clarification within the platform, speeding up communication and in turn making the process more efficient.
Nuvia can then share the results of the assessments with suppliers to help them improve and fix any issues highlighted in the process.
Demonstrating compliance with less effort
Rizikon speeds up the onboarding process for all parties and helps the business compile all their supplier risk information into one place for key stakeholders to view.
This up-to-date record of all supplier details, with key dates for when each assessment has been issued and completed, makes tracking and reporting against internal Key Performance Indicators (KPIs) so much easier. It also helps Nuvia demonstrate compliance with internal procedures and policies, as well as those required by external regulators.