TIDMCCS
Crossword Cybersecurity PLC
29 June 2021
Spotlight Sports Group Halves Time Spent on Supplier Management
with Rizikon Pro from Crossword Cybersecurity
Processes automated and simplified, with improved visibility of
supplier management and compliance.
29 June 2021 - London, UK - Crossword Cybersecurity Plc
(AIM:CCS, "Crossword", the "Company" or the "Group"), the
technology commercialisation company focused on cyber security and
risk management, is pleased to announce that Spotlight Sports Group
, the digital publisher and integrated betting platform, has
implemented Rizikon Pro , Crossword's supplier assurance and
third-party risk management platform for SMEs. As a result,
Spotlight Sports Group has halved the time spent on supplier
management, gained better visibility of supplier risks, and cut the
costs of maintaining its ISO 27001 Information Security Management
certification.
Spotlight Sports Group is the owner of Racing Post, which has
been the home of horse racing in the UK and internationally since
launching as a newspaper in 1986. Today, its all-digital platform
offers breaking industry news, race results, statistics, tips, and
betting platform integration. As part of a heavily regulated
industry, Spotlight Sports Group invests huge amounts of time and
effort to ensure it, and its 40+ suppliers, meet the governance,
regulatory and compliance requirements of its industry.
Spotlight Sports Group wanted to automate its supplier
management and onboarding processes, so that it could improve the
experience for both staff and suppliers. A typical onboarding
process requires a supplier to complete a host of forms about every
aspect of its business operations. They are time consuming to
manage for all parties, leading to delays, complications, and poor
visibility of risks. One critical area that Spotlight Sports Group
assesses suppliers for is the ISO 27001 Information Security
Management certification, and the team could see a clear
opportunity for this to be more efficiently managed.
Victor Mih ilescu , Head of Security at Spotlight Sports Group,
highlighted: "A lot of our team's time and energy was being taken
up by the existing processes - we wanted that time back so staff
could focus on higher value tasks. We considered a range of
solutions, from simple cloud-based forms, through to well-known
third-party risk management platforms, which were expensive and
over-complicated. 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."
Rizikon Pro is a secure, encrypted portal which puts an
organisation in control of managing risks in its supply chain and
the financial, regulatory and reputational risks they indirectly
carry. Rizikon Pro contains standard questionnaires on subjects
such as cyber security, GDPR, supplier on-boarding, modern slavery,
and anti-bribery & corruption. Customers can also create their
own question sets and scoring approaches, enabling a 360-degree
view of supply chain risk in a single pane of glass.
A rapid implementation with 50% time saving
Implemented in a matter of weeks, using 'out-of-the-box'
questionnaires and very little customisation, Spotlight Sports
Group was able to move quickly from a trial to a live solution,
with immediate efficiency gains for day-to-day process. For
example, a new supplier can be added to the Rizikon Pro platform in
under five minutes, sending out questionnaires for supplier
completion via a Spotlight Sports Group branded, encrypted secure
portal. Supplier onboarding has been greatly improved in part by
Rizikon Pro's integration with CreditSafe, which combines
questionnaire responses with data on over 320 million companies
worldwide, including their credit risk scores, saving staff a huge
amount of time.
Mr. Mih ilescu added: "All of our supplier onboarding
communication and management now takes place in Rizikon Pro. As a
result, we have halved the time we spend on supplier management and
made the process easier for our 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."
More savings to come with Rizikon
Spotlight Sports Group can now easily and transparently
demonstrate to auditors its compliance 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.
Spotlight Sports Group predicts even greater time savings in the
future, because the anniversaries on which suppliers must review
and update their compliance data will be automated by Rizikon Pro.
This will further reduce the risk of non-compliance and remove
administrative overheads.
Mr. Mih ilescu concluded: "Our focus so far has been on our ISO
27001 certification and supplier onboarding, but we are already
looking at other areas of compliance 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 on
ideas and new features for Rizikon Pro. The platform and team have
met all our expectations."
Sean Arrowsmith, Group Sales Director at Crossword, commented:
"Good governance and compliance has become increasingly important
for companies of all sizes, but can be a real challenge for SMEs.
Most companies would be horrified if they calculated the amount of
time and risks involved in running poorly implemented supplier
management and compliance processes. Spotlight Sports Group
implementation of Rizikon Pro, which we launched last year aimed
specifically at supporting SME organisations, demonstrates what can
be quickly and easily achieved when companies implement the right
solution and a robust supplier assurance framework. Ease of
implementation alongside successful partnership programmes, has
been key in driving a tenfold increase in the use of Rizikon over
the last six months, to over 250 users."
Contacts
Crossword Cybersecurity plc - Tel: +44 (0) 20 3953 8460
Email: info@crosswordcybersecurity.com
Tom Ilube, Chief Executive Officer
Mary Dowd, Chief Financial Officer
Grant Thornton (Nominated Adviser) - Tel: +44 (0) 20 7383
5100
Colin Aaronson / Lukas Girzadas
Hybridan LLP (Broker) - Tel: +44 (0)203 764 2341
Claire Louise Noyce
For media enquiries contact:
Duncan Gurney / Lorena Duke, GingerPR
crossword@gingerpr.co.uk - Tel: +44 (0)1932 485 300
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.
About Spotlight Sports Group
Spotlight Sports Group is built on the foundations of the Racing
Post, the pioneers of adding value to sports betting with brilliant
content. Its mission is to relentlessly add value to global sports
betting experiences, with a trusted, market-leading offering.
Spotlight Sports Group drives audience growth and engagement
through the Racing Post, MyRacing, Free Super Tips and Soccerbase
brands, and in the U.S. through Pickswise, one of the sector's
fastest-growing publishers.
Spotlight Sports Group has been helping the world's biggest
betting operators for decades, who have chosen to work with the
group to embed it's premium betting content, marketing and
affiliate partnerships and ground-breaking trading solutions.
Learn more at https://www.spotlightsportsgroup.com/about
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