Crossword Cybersecurity’s risk management platform Rizikon Pro was implemented by Spotlight Sports Group. Thanks to the platform, Spotlight Sports reduced the time spent on supplier onboarding in half, while at the same time ensuring compliance.
Spotlight Sports Integrates Rizikon Pro
Digital publisher Spotlight Sports Group has implemented Crossword Cybersecurity’s innovative supplier assurance and third-party risk management platform for SMEs dubbed Rizikon Pro. By adding Rizikon Pro, Spotlight Sports has reduced the time it spends on supplier management in half. Furthermore, the company gained better visibility of supplier risks, and reduced costs related to maintaining its ISO 27001 Information Security Management certification.
“Good governance and compliance has become increasingly important for companies of all sizes, but can be a real challenge for SMEs.”Sean Arrowsmith, Group Sales Director, Crossword Cybersecurity
Crossword’s group sales director, Sean Arrowsmith, shared his excitement by revealing that compliance and good governance are increasingly important for companies of all sizes. Furthermore, he acknowledged that sometimes those two factors can prove to be a big challenge for SMEs. Additionally, Arrowsmith revealed that supplier management and compliance represent a significant time investment, but also bring risks related to poor implementation.
Arrowsmith said that Rizikon Pro, which was a product that was launched last year, is aiming at supporting SME organizations. According to him, Spotlight Sports’ implementation of Rizikon Pro proves that the solution can quickly and easily help companies. Last but not least, Arrowsmith revealed that the product proved itself with successful partnership programs and by reaching more than 250 users in the last six months.
Rizikon Pro Saves Time and Boosts Supplier Onboarding Speed
As a secure encrypted portal, Rizikon Pro allows its users to control financial, regulatory and reputational risks within a supply chain. Furthermore, the solution features standard questionnaires on cybersecurity, supplier on-boarding, as well as GDPR, corruption and anti-bribery. Rizikon Pro customers can easily create their own questionnaire that features scoring. This allows a 360-degree assessment of supply chain risks.
After being implemented in a matter of weeks, the “out-of-the-box” questionnaires quickly helped Spotlight Sports to move from the trial to the live version of the solution. Furthermore, the company immediately improved its day-to-day process. Now, the operator can add a new supplier to the Rizikon Pro platform in less than five minutes by sending the questionnaires for supplier completion. Additionally, the company completes the process via Spotlight Sports branded and encrypted portal.
Rizikon Pro’s supplier onboarding has been improved significantly thanks to CreditSafe integration. With the help of the integration, the platform combines responses of questionnaires from a database of more than 320 million companies around the world. That data features credit risk scores, which results in saving time.
Besides saving time, Rizikon Pro also helps Spotlight Sports demonstrate transparency to auditors in terms of compliance. The company can easily identify suppliers that may need support or encouragement when completing the questionnaires. In the future, Spotlight Sports predicts that Rizikon Pro will be even more efficient when it comes to anniversaries on which suppliers must review and update their compliance. The platform automates that process, resulting in a reduction of non-compliance risk.
Crossword’s Platform Is the Perfect Fit For Spotlight Sports
Victor Mihăilescu, Spotlight Sports’ head of security, revealed that a lot of time and energy of the company was taken by existing processes. At the same time, Spotlight Sports wanted its team to use that time for high-value tasks. After reviewing multiple solutions, the company concluded that Rizikon Pro is the perfect fit for the supplier management needs that Spotlight Sports has.
“Rizikon Pro, which is aimed at SMEs, offers us by far the best fit for our supplier management needs with its balance between functionality, collaboration features and flexibility.”Victor Mihăilescu, Head of Security, Spotlight Sports Group
Furthermore, Mihăilescu revealed that currently, the company conducts its entire supplier onboarding communication and management via Rizikon Pro. He pointed out that thanks to the new platform, the time spent on supplier management was cut in half, making the process easier for suppliers. “All the information and discussions about questionnaires is kept in one place and we can clearly see when and by whom forms were completed, removing any non-repudiation risk,” explained Mihăilescu. He also revealed that Rizikon Pro has met all expectations of Spotlight Sports.