What Crossword does
Crossword Cybersecurity PLC (LON:CCS) has two main products: Rizikon Assurance, a risk assessment tool that helps companies evaluate their suppliers and other third parties and Nixer, a machine-learning-based cybersecurity tool.
How it’s doing
In January, Crossword Cybersecurity said it expects to report revenue growth and full-year results that are in line with market expectations despite what it said was a “challenging 2020”.
In a trading update for the year to December 31, 2020, the company said overall revenues are expected to show an increase of 25% to £1.6mln, within which product and consulting revenues are expected to expand by 39% reflecting its shift to a core of products and consulting sales from software development services.
Crossword said software and process development had continued during 2020 with the launch of its Rizikon Pro software-as-a-service solution in July, noting that the product is “transforming the sales model” with a much shorter sales cycle and “impressively high conversion from trials to paying clients”
Consulting division is racking up contracts in the legal, insurance and financial services sectors
Crossword’s Rikizon Assurance product is now used by the famous Cammell Laird marine engineering company to manage risk in its supply chain
Sales progress with the new Rizikon supplier assurance platform aimed at SMEs