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The overall Assurance Framework Dashboard – a world first – shows the status of the whole supply chain, allowing KPIs for all third-party risk to be tracked.
About
Rizikon Assurance puts the whole third-party risk process online. It provides a scalable, secure system for conducting online assessments interactively with hundreds or even thousands of suppliers. Standard assessments on multiple topics are available or the clients own question sets can be supported in the system. Scoring is as automated as possible freeing up subject matter experts to focus in on high-impact suppliers. Risk scorecards for each supplier show clearly all of the risks and assurance assessments relating to them. These can pull in data from Creditsafe, the financial ratings platform – meaning that for the first time every risk for each supplier is seen together.
Key Benefits
Together, our clients can assess over 100,000 suppliers a year. The benefits are clear; • Scalable – the current team can manage many times more assessments at the same time. Many customers • Supplier-friendly – suppliers are over twice as likely to complete assessments than via traditional methods. The easy, intelligent online forms and smart features aid completion and make their progress instantly visible. • Efficiency – faster onboarding using automated scoring and integration with Creditsafe. • Auditable – drill-down from easy to understand supplier scorecards to view the source assessments. Maintain 100% provenance of data. Prove compliance with your own supplier assurance policies. • Visibility – see the whole supply chain, an individual supplier, an assessment or Creditsafe report, or a single answer or attachment. Share with the right people for rapid, collective, data-driven decision-making.
Applications
All of the above benefits add up to finally being able to truly measure and control third-party risk in a systematic way. This prevents the regulatory, financial and reputational problems that have the ability to seriously harm a business – saving money and keeping you in business.