Crossword Cybersecurity PLC FTSE 250 company to use Rizikon Assurance (8970O)
October 08 2019 - 1:00AM
UK Regulatory
TIDMCCS
RNS Number : 8970O
Crossword Cybersecurity PLC
08 October 2019
FTSE 250 Chemical Manufacturer to use Rizikon Assurance from
Crossword Cybersecurity to Enhance Visualisation of Supplier
Risk
8 October 2019 - London, UK - Crossword Cybersecurity plc (AIM:
CCS, "Crossword", the "Company" or the "Group") the technology
commercialisation company focusing exclusively on the cyber
security sector, is pleased to announce today the signing of a
two-year contract with a FTSE 250 global chemical manufacturer.
The customer will use Rizikon Assurance to issue onboarding
assessments to their 250 strategic suppliers, in turn displaying
their key risk data in the tool's 'Supplier Scorecard' feature.
Rizikon Assurance will automate the supplier management process,
replacing manual, time-consuming and resource-intensive processes
that the company has used to date.
Rizikon Assurance will play a pivotal part in the customer's
overall Supplier Management Framework, increasing the efficiency of
their supplier assurance process and enabling them to identify and
mitigate their biggest areas of supplier risk. Each category of
supplier will be assessed against their criticality and risk to the
business.
The customer will take full advantage of the new features that
Rizikon Assurance has to offer, including the industry-first
Assurance Framework Dashboard which displays a holistic view of the
risk-criticality score of all suppliers, on one matrix. The tool
will aid in the selection of low-risk suppliers, as well as
re-evaluating suppliers who are currently operating above
acceptable risk thresholds and are in the process of carrying out
remediation efforts to lower their overall risk. All the
assessments and due diligence the customer performs through Rizikon
Assurance will work towards providing them with an Approved
Supplier Register. Rizikon Assurance will help to classify and
prioritise suppliers based on their level of risk, manage question
sets and improve the ease in carrying out required audits, as all
the necessary information will be located in the one centralised
platform.
Ken Fraser, Rizikon Assurance Product Manager, commented:
"Third-party assurance is particularly important for organisations
with large, complex supply chains who face multiple challenges when
managing third-party risk, so we are pleased to work alongside this
organisation in taking proactive measures to mitigate third-party
risk. Crossword is now really gaining traction with business
customers for Rizikon Assurance. All businesses need to do a better
job of third-party risk management - and we believe that we have a
unique system that helps them take control."
About Crossword Cybersecurity plc
Crossword Cybersecurity plc focuses on the development and
commercialisation of university research-based cyber security
related software and cyber security consulting. The Group's
specialist cyber security product development and software
engineering teams work with its university partners to develop the
research concept into a fully-fledged commercial product that it
will then take to market. The Group's aim is to build up a
portfolio of revenue generating, intellectual property based, cyber
security products. Rizikon Assurance, Crossword's leading product,
is a SaaS platform that enables medium to large companies to assess
the cyber maturity and GDPR readiness of their suppliers.
Crossword's team of expert cyber security consultants leverages
years of experience in national security, defence and commercial
cyber intelligence and operations to provide bespoke advice
tailored to its clients' business needs.
Contacts
Crossword Cybersecurity plc - Tel: +44 (0) 20 3953 8460
Email: info@crosswordcybersecurity.com
Tom Ilube, Chief Executive Officer
Mary Dowd, Finance Director
Grant Thornton (Nominated Adviser) - Tel: +44 (0) 20 7383
5100
Colin Aaronson / Jamie Barklem /Niall McDonald
Hybridan LLP (Broker) - Tel: +44 (0)203 764 2341
Claire Louise Noyce
For media enquiries contact:
Lorena Duke, GingerPR
lorena@gingerpr.co.uk, 01932 485 300
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END
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