CLIENT: Agnostic Intelligence AG
Agnostic Intelligence, a Swiss innovative startup, has developed a platform that automatically analyzes various sources of information to manage supply chain risks. The platform targets companies in various sectors (e.g. financial, chemical and manufacturing). These face complex challenges, such as managing many suppliers, maintaining compliance with specific regulations (e.g. DORA, NIS 2, GDPR), and protecting against risks associated with their supply chain.
PRODUCT DEVELOPED
Agnostic Intelligence needed additional technical expertise to develop this highly complex product and chose Connections Consult as a partner. The collaboration led to the improvement of the innovative Third-Party Risk Assessment and Management (TPRM) platform.
PROJECT DURATION
The implementation of the platform’s key functionalities lasted approximately 2 years. The technologies used included backend .NET 6, SQL Server database, and Azure cloud infrastructure, with Agile methodology adopted to ensure efficient project management and adaptability to changing requirements.
The main functionalities of the platform included automatic risk assessment using artificial intelligence, agnostic integration, continuous threat monitoring, report generation, transparent communication, and the ability to add customized functionalities through add-ons.
IMPLEMENTATION AND FUNCTIONALITIES
The platform required a series of essential functionalities to be comprehensive and efficient, and the implementation included:
Automatic third-party risk assessment: using state-of-the-art Artificial Intelligence technology, the platform can automatically and comprehensively evaluate risks associated with third parties based on a questionnaire incl. documentation which significantly reduces time to market and ressources involved.
Universal integration: the platform seamlessly integrates with various data sources, such as open-source systems, risk questionnaires, and third-party proprietary solutions, ensuring a holistic view of supply chain risks.
Continuous monitoring: the platform provides a continuously updated external threat view on a company. Potential vulnerabilities and threats are identified and notified on the platform.
Detailed reports: the platform generates different reports (audit report, management summary) which provide a complete picture of the identified deviations and risks associated with a third party.
CHALLENGES IN THE PROJECT
Cultural diversity within the team: The project brought together members from countries such as Switzerland, Germany, Slovakia, Hungary, and Spain, each with their own working norms and organizational culture.
Connections’ expertise was essential in adapting the solution to the specific needs of the clients, ensuring easy and efficient use.
The implementation of the platform led to a significant reduction in time and costs associated with third-party assessments, while also enhancing cybersecurity and operational efficiency for Agnostic’s clients.
IMPACT
- Significant reduction in time and costs: Third-party assessment became up to 90% faster, resulting in substantial savings for clients in both time and costs. (On average, a manual third-party risk assessment process took two months, with costs amounting to 60’000 Euros per assessment.)
- Enhancement of TPRM: Continuous monitoring and real-time notifications enable rapid identification and mitigation of potential vulnerabilities and risks.
CONNECTIONS TEAM INVOLVED
The collaboration resulted in a top-standard cybersecurity product, and from a technical standpoint, the project involved a team from Connections with expertise in areas such as software development, AI & ML engineering, and technical consultancy on product architecture.
