Digital sports publisher and integrated betting platform provider, Spotlight Sports Group (SSG), reduced supplier management time by half after implementing Crossword’s supplier assurance and third party risk management platform, Rizikon Pro.
Automating supplier management made supplier onboarding much more efficient for SSG and their suppliers and SSG can now easily and transparently demonstrate to auditors their compliance processes.
Spotlight Sports Group, as a sports betting platform provider, is part of a heavily regulated industry and therefore invests huge amounts of time and effort to ensure it meets governance, regulatory and compliance requirements. Watertight supplier assurance processes represent a substantial part of SSG’s compliance obligations.
Improving cumbersome supplier management processes
SSG works with a number of third party suppliers and partners and a typical onboarding process requires each one to complete multiple time-consuming forms about every aspect of its business and IT operations. The process was complicated and time consuming and was leading to onboarding delays. Manual processes were also causing poor visibility of supplier risks and a lack of audit trail visibility.
SSG wanted to improve the overall experience for both staff and suppliers and make the process of meeting security and compliance requirements much more efficient.
Crossword Cybersecurity worked with SSG to implement supplier assurance and third party risk management platform, Rizikon Pro. Moving quickly from a trial to a live solution in a matter of weeks, SSG saw immediate efficiency gains for their day-to-day supplier assurance processes.
A new supplier can now be added to the Rizikon Pro platform in under five minutes and out-of-the-box’ supplier assurance questionnaires can be sent for supplier completion via a SSG branded, encrypted secure portal. Supplier completion progress can be tracked easily from the platform and reminders can be sent.
Demonstrating compliance with less effort
SSG can now easily and transparently demonstrate to auditors its supplier assurance processes, which are reinforced by Rizikon Pro. For example, the team can identify suppliers that need encouragement or support to complete questionnaires, which is an important step to ensuring compliance.
Victor Mihailescu, Head of Security at Spotlight Sports Group, said:
“We have halved the time we spend on supplier management and made the process easier for our suppliers. Regarding compliance, our focus so far has been on ISO 27001 certification and supplier onboarding, but we are already looking at other areas that can benefit from Rizikon Assurance. We’ve had a great relationship with the Crossword team, who have been both enthusiastic and responsive to our feedback.”