​Suppliers to the rail sector are set to benefit from price reductions, announced by rail industry body RSSB, for the Rail Industry Supplier Qualification Scheme (RISQS).

​The announcement was made to over 500 delegates at the Annual RISQS Conference in Coventry, which also heard from industry leaders about the crucial role of assurance in removing supply chain risk, and the plans to further develop RISQS in CP6.

The move will help reduce the cost of doing business with rail for 4,000 suppliers, including many small and medium-sized enterprises (SMEs).

The audit day-rate is being cut by £50, representing a 5% reduction, and the membership fees for suppliers are being dropped across the board by up to 4.38%, effective from 1 May 2019.

RSSB is funding the price cuts as part of its overall management of RISQS as the only official supplier qualification scheme run by the rail industry, for the rail industry.

It follows positive performance and a promise made by RSSB to review the price after a year of running the scheme under new arrangements in 2018.

The scheme’s services are costing users about 20% less in real terms since RSSB took over the governance of RISQS in 2012.

RSSB’s Head of Supplier Assurance, Damon Snell, said “RISQS is the only official rail industry scheme that can provide both qualification and assurance in the supply chain, and is recognised by the regulator as the easiest and most efficient way of managing the safety risk in procurement. The price reductions are part of RSSB’s broader commitment to suppliers, to ensure they can do unhindered business with rail, and access efficient and effective tools to manage risk and keep our railways safe.”

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The fees are being reduced for supplier membership and audits with RISQS, effective for all renewals due on or after 1 May 2019.

Supplier membership

The prices will be reduced across all four membership bands. The new prices represent reductions between 0.78% and 4.38%.

Audit fees

The day-rate for a RISQS Audit will be cut by £50, a 5% reduction, from £995 to £945.

We are retaining the discounted £895 day rate for very small organisations (see Scheme rules on the website for details).

Overall benefits

The scheme’s services are costing users about 20% less in real terms since RSSB took over the governance of RISQS in 2012.

RSSB is funding these reductions following improvements in the way the scheme is run, and to the way it has performed in the first year of new arrangements.

It follows a price review which was part of the promise to scheme users in May 2018.

About RISQS

RISQS is the only official rail industry scheme providing suppliers with open, fair and transparent way for suppliers to be formally recognised as capable providers of products and services to the GB rail market.

Buyers and suppliers benefit from a smart, quick, easy web-based platform. Organisations are audited once via RISQS for their capabilities avoiding the need for them to be subjected to multiple, duplicate auditing from different buyers.

The scheme is managed by RSSB on behalf of the rail industry, who provide oversight, coordination and a team of dedicated specialists to provide the necessary industry interfaces, service provider delivery and coordination, and ongoing system improvements.

For more information go to www.risqs.org.