RSQS Supplier Management and compliance system for the retail sector including high street and online retailers.
RSQS (Retail Suppliers Qualification System) provides a standard and simple mechanism for collecting and managing third party supplier compliance assurance information within the Retail industry, demonstrating compliance to regulators, internal policies and governance controls.
Benefits of Membership
Benefits for buyers
- EASIER REGULATORY REQUIREMENT
Comprehensive, accurate and regular updated insight into third party risk.
- REDUCED PROCUREMENT TIMESCALES
Instant access to third party information, reducing the time needed to qualify new suppliers or renew contracts.
- HIGH QUALITY VALIDATED INFORMATION
We check all third party information in accordance with a consistent, objective and continually updated process
- COST AND RESOURCE EFFICIENT
Costs are shared amongst community members, significantly reducing the cost of an in-house solution
- PEER NETWORK
Access to the combined experience and resources of other members in the community with shared goals and challenge
Benefits for suppliers
- EASIER CUSTOMER COMPLIANCE
Simpler route to demonstrating compliance to multiple customers at the same time
- RESOURCE AND TIME EFFICIENT
Single profile for multiple customers, information request is tailored to goods and services being supplied
- SIMPLER APPROACH
Information is collected using selectable answer options rather than free text responses, making completion quicker compared to traditional questionnaires
- CONTROL YOUR INFORMATION
Your company information can be amended or updated at any time through a secure online portal
- BUSINESS IMPROVEMENT
Identify the common requirements of multiple customers and how your business might improve its compliance
- FASTER QUALIFICATION
Completed profiles are visible to all buyer members using RSQS when sourcing and qualifying third parties for new business
How it works
One of the key aims of RSQS is to ensure that the information that suppliers and third parties are asked to provide to their clients is proportionate to the types of goods of services being supplied. A dynamic two-stage process is used to ensure that the process is tailored, and therefore as efficient as possible.
Stage 1 collects basic information about a supplier or third party to produce a profile on their legal entity, financial and the nature of goods and services being supplied. This information allows an inherent risk assessment to be performed to determine if Stage 2 is needed in order to collect more detailed information.
Stage 2 requires the completion of a more detailed questionnaire along with supporting evidence, such as policies and certificates. To make the process as efficient as possible, only questions relevant to the nature of goods and services indicated in Stage 1 are asked, and most of the questions have selectable answers rather than requiring lengthy written responses.
Examples of Risk trigger questions
- Manufacturing sites
- Human resources
- Financial and legal
- Anti-bribery & Corruption