Launch of Rizikon Pro to address demand for supplier assurance in SME organisations

16 July 2020 – London, UK – Crossword Cybersecurity Plc (AIM:CCS, “Crossword”, the “Company” or the “Group”), the technology commercialisation company focused solely on cyber security and risk, is pleased to announced the launch of Rizikon Assurance Professional Edition (“Rizikon Pro”), a new edition of its supplier assurance and third party risk management platform aimed primarily at small and medium sized organisations.

Crossword has demonstrated Rizikon Assurance’s value within large and complex enterprises, with a client base in sectors as diverse as nuclear and professional services. It recognises that smaller organisations have the same third-party risk imperatives as larger enterprises, but with less complex needs, and often lack in-house risk management expertise. Rizikon Pro is an out-of-the-box, online SaaS solution, offered on a pay-as-you-go basis, giving smaller organisations access to a set of core easy-to-use supplier assurance platform features, at lower cost. Modules can be chosen according to need, meaning customers only pay for the features they use, and can be expanded as required. Crossword anticipates a rapid roll out to a wider client base over the coming year.

Rizikon Assurance is a secure, encrypted portal which puts organisations in control of managing risks in their supply chain. COVID-19, Brexit, and a host of Environmental, Social and Corporate Governance (ESG) matters, have highlighted weaknesses within supply chains, raising awareness of the financial, regulatory, and reputational risks organisations indirectly carry. Rizikon Assurance contains standard questionnaires on subjects such as cyber security, GDPR, supplier on-boarding, modern slavery, anti-bribery & corruption, and soon to be released diversity and equality assessments. Customers also can create their own question sets and scoring approaches, enabling a 360-degree view of supply chain risk in a single pane of glass. Rizikon Assurance improves the scalability, security and auditability of third-party assurance and due diligence through its automated, centralised and encrypted platform.

Sean Arrowsmith, Group Sales Director, of Crossword, commented; “Recent global events including COVID-19, Brexit, trade wars and ESG matters are drawing attention to the importance of supply chain management, and shining a torch on poor resilience, and the unknown risks organisations are carrying in their supply chains. The release of Rizikon Pro addresses the demand from smaller organisations to assess supply chain risk in a cost-effective way, helping them identify where to invest resources to reduce risk and build resilient supply chains, with the same success as our enterprise customers.”

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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

About Crossword Cybersecurity plc
Crossword Cybersecurity plc focuses on the development and commercialisation of university research-based cyber security and risk management 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 and manage all risks from their suppliers. Nixer CyberML, Crossword’s most recently launched product, is a new tool for businesses that want to solve advanced security and cybercrime problems, such as detecting and dealing with compromised accounts, fraud, and in-application denial of service attacks. 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.

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Duncan Gurney, GingerPR
duncan@gingerpr.co.uk, 01932 485 300

Source: RealWire