Ownership changes, finances deteriorate, fraud attempts grow, sanctions lists change frequently. The gap between annual reviews is where real risk exposure builds, and usually where an audit finds it first.
HICX enables risk, procurement and compliance teams to monitor every supplier continuously, on trusted data, across every category, region and ERP. So when issues surface, you can act swiftly.
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When risk lives in a once-a-year questionnaire, it’s already out of date by the time you act on it. The work happens in bursts, the data ages between cycles, and nobody owns the gaps.
HICX embeds risk into how suppliers are managed every day. Frameworks, scoring, continuous monitoring and corrective actions all run off the same governed supplier data your procurement, finance and compliance teams already work from.
“In the last few years we have seen increased cases of attempted fraud. Most of them unsuccessful, thankfully, but this tool helps to enforce that governance and mitigate fraudulent activity”
Craig Penk, Director, P2P Procurement Strategy and Process
Risk surfaces as it emerges, not at the next cycle. Exposure gets caught while you can still act on it, rather than discovered by an auditor first.
Evidence is ready the moment it’s asked for. Responding to a regulator or internal audit stops being a scramble across spreadsheets and inboxes.
The programme runs without anyone remembering to chase it. Your team spends its time acting on risk, not administering the process.
A risk programme is only as good as the data beneath it. HICX runs risk on a governed supplier data foundation, so assessments reflect current, validated information rather than records captured at onboarding years ago.
Designed for enterprises managing thousands of suppliers across multiple ERPs, regions and compliance regimes. HICX handles the complexity that breaks simpler, single-system risk tools.
Regulations shift and new risk categories emerge constantly. Because your framework, scoring and questionnaires are configurable with no-code tools, the programme keeps pace without a development project every time the rules change.
Risk runs inside the same platform that manages your suppliers end to end. You extend supplier management rather than bolting on another disconnected system and another data silo.
Risk scores run continuously against live supplier data. Threshold-based alerts fire the moment a score moves, so your team acts on what’s true now, not on last quarter’s assessment.
Configure weighted scoring, RAG thresholds and knock-out questions around your categories, regions and regulations, drawing on a built-in KPI library. The programme reflects how your organisation defines risk, not how a tool assumes you should.
Risk frameworks, scoring and questionnaires are all built with no-code tools. Adapt as regulations change or categories evolve, without queuing for development resource.
Suppliers complete their own risk questionnaires and respond to corrective actions through the HICX Supplier Portal. No chasing by email, no version-control issues, and a full record of every interaction.
Corrective action plans are triggered automatically when a threshold is breached, or raised by your team. Every action has an owner, a due date and an escalation path, so nothing slips between reviews.
Bring D&B financial health, EcoVadis ESG ratings and sanctions monitoring into your scorecards through HICX Origin. Available as a modular add-on alongside the core risk capability.
Every assessment, supplier response and corrective action is logged and time-stamped. When an auditor or regulator asks, the evidence is already there, not assembled under pressure.
HICX connects to your ERP, P2P and external data sources to feed risk assessments automatically. No parallel data entry, and no risk tool operating in isolation from your supplier records.
ISO/IEC 27001 certified and SOC 1 Type II audited, with single-tenant architecture, role-based access and full audit trails as standard.
In this part of our series of webinars on ‘End-to-End SIM Strategy’, Duncan Clark, Head of Product Marketing at HICX, is joined by Costas Xyloyiannis, CEO at HICX; Adam Hubbard, Supply Chain Governance and Performance Manager at EDF; and Jerry Grable, Director of eBusiness at BAE Systems, Inc. to discuss the value that SIM has brought to […]
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