Crossword Cybersecurity Plc Launches New Supply Chain Cyber Solution Enabling Organizations To Rapidly Improve Resilience Against Third Party Risk

Crossword Cybersecurity Plc has announced the launch of its Supply Chain Cyber solution, comprised of an end-to-end suite of cyber and regulatory expertise, managed services, and software solutions designed to manage third-party risk with a “cybersecurity and regulatory led” approach.

Cybersecurity and regulatory-led approach

The new approach empowers customers to rapidly and radically improve their cyber resilience against third-party incidents and breaches through a robust and cohesive methodology.

This innovative approach will be fundamental in helping companies understand and mitigate the ever-growing risks to their business from supply chain attacks. 

Meeting cybersecurity needs

Supply Chain Cyber provides a clear route for customers to identify the right requirements for their business

In the current environment of tightening regulation, coupled with a bewildering array of frameworks and guidance, Crossword Cybersecurity’s Supply Chain Cyber provides a clear route for customers to identify the right requirements for their business cutting through the complexity and reducing cyber risk.

The solution is the latest release from Crossword’s established consultancy practice, which combines a wealth of practical experience in helping clients to meet their cybersecurity needs.

Supply Chain Cyber Resilience at Pace

Time is of the essence when building supply chain resilience, but knowing where to start can often be the biggest hurdle when supply chains are large or complex.

To overcome this challenge Crossword has developed a ground-breaking Supply Chain Cyber Standard Operating Model (SCC SOM) based on best practices, which provides a complete toolkit to reduce and manage cybersecurity risk. The solution is scalable and simple to use, comprising controls, methodology, and tooling, and fits any industry.

Automate third-party risk management

The modular approach helps organizations understand where to start and focus resources where needed

The modular approach helps organizations understand where to start, pinpoint at-risk suppliers, and focus resources where needed while reducing the burden on both internally and on third parties contributing to the process.

Crossword’s Supply Chain Cyber practice is fully underpinned by its Rizikon Assurance platform, enabling customers to automate third-party risk management with secure online assessments, 360-degree risk scorecards, and intelligent BI reporting.

SCC SOM

The SCC SOM consists of six modular areas, each customized to the needs of the client, and supported by a wealth of expertise in cybersecurity, supply chain, IT, governance, risk, and compliance, to accelerate the supplier risk management lifecycle and make it more streamlined:

• Strategy & Appetite – A benchmarking and maturity assessment, which leads to strategic alignment with business objectives and sets the target operating model.
• Framework – Helps the organization adopt the tools needed to manage Supply Chain Cyber risk and right-size the framework for the organization against industry best-practice and regulations.
• Processes – Gaining visibility of supply chain risk via discovery, inventory build, and a multidisciplinary risk-based approach to assurance and remediation.
• People & Culture – Supports the building of responsive relationships with suppliers, leadership support, and employee engagement with new processes.
• Governance & Reporting – Working with clients to develop effective oversight with real-time insights and driving continuous improvement of processes and risk profiles.
• Tooling – Cost and information confidence, automated workflows, and intelligent BI.

Cyber risk management

An organization can have the best cyber defenses available yet still be vulnerable to an attack"

Laura Greenwood, Head of Crossword’s Supply Chain Cyber Practice, said, “Managing cyber risk in the extended supply chain has long been viewed as an intractable problem.”

“An organization can have the best cyber defenses available yet still be vulnerable to an attack via a critical supplier.”

Visibility challenges

“Challenges around visibility, the growing number of cyber-attacks, and increasing regulation have highlighted the need for a simple, cost-effective way to manage the risk."

“The launch of Crossword’s Supply Chain Cyber practice sees the culmination of years of experience, talent, and innovation and offers all organizations a proven and unique way to rapidly assess and address the cyber risk in their supply chain while ensuring regulatory compliance.”