RISQS (Railway Industry Supplier Qualification Scheme) is a pre-qualification scheme used by the UK rail industry to assess the competency and suitability of suppliers to work on the railway. The scheme is managed by an independent company that specializes in supply chain risk management in the rail industry and companies are audited on an annual basis.
Digitizing the RISQS protocol involves moving the manual, paper-based process of supplier pre-qualification to an electronic format. This means that the entire process, from application to assessment to approval, is completed online using a digital platform.
The benefits of digitizing the RISQS protocol are numerous, including:
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Time savings
Digital applications can be completed more quickly than paper-based applications, reducing the overall time taken to complete the pre-qualification process.
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Cost savings
Digitizing the process can save on the costs of printing, postage, and storage of paper-based applications.
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Improved accuracy
Digital applications are less prone to errors than paper-based ones, reducing the likelihood of delays due to errors or omissions.
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Greater efficiency
Digitizing the process allows for greater automation, reducing the need for manual intervention and increasing the speed and accuracy of assessments.
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Enhanced data analysis
Digitizing the process allows for the collection of data on the pre-qualification process, which can be used to identify areas for improvement and enhance overall supplier management.
Overall, digitizing the RISQS protocol offers significant benefits for both suppliers and buyers in the UK rail industry. It streamlines the pre-qualification process, reduces costs, and improves accuracy, efficiency, and data analysis capabilities.
Platforms unique capabilities allow you to centralise all the above functions and centralise it in to one online space. We are excited to continue our development and we have a number of new features planned and continuous improvements happening on a weekly basis.