The company said Rizikon Pro offers an out-of-the-box, online software as a service (SaaS) solution on a pay-as-you-go basis, allowing smaller firms to access supplier assurance features at a lower cost.
Modules can be chosen according to need, meaning customers only pay for the features they use, and can be expanded as required.
Rizikon is designed to help organisations manage risks in their supply chains, containing standard questions on subjects including cybersecurity, GDPR, supplier onboarding, modern slavery, anti-bribery and corruption, and soon to be released diversity and equality assessments.
Crossword said it anticipates a “rapid roll out” of the product to a wider client base over the coming year.
"Recent global events including [coronavirus], 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”, Sean Arrowsmith, Crossword’s group sales director said in a statement.
“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", he added.
Shares in Crossword were steady at 305p in lunchtime trading on Thursday.