RISQS Price Increases for all Memberships and Audits expiring from 29 May 2023
RISQS is the supplier assurance scheme of choice for over 80 buyers and 4000+ suppliers and is run by the railway industry for the railway industry.
In May 2019 membership fees and supplier audit day rates were reduced by approximately 10% to support the railway industry supply chain. Prices have remained frozen at the May 2019 rates to the present day (Rail Business Daily March 2019).
Had RISQS linked price increases each year in line with CPI, the costs to the railway industry would have increased by a minimum 24%.
During this period, RISQS has heavily invested in improving both the scheme development and the scheme portal without passing on costs to industry.
The RISQS senior management team have continued to make significant cost efficiencies in the operational running of the scheme since May 2019 while delivering the investments mentioned above.
However, with regret, due to business costs rising beyond our control, we need to deliver a price increase to industry from May 2023. These are as follows:
* all rates exclusive of VAT
As you will see, we have managed costs accordingly to ensure the price increase will still fall below CPI.
In real terms, the railway industry supply chain will still be protected from inflationary cost increases.
How does this affect me?
All memberships and audits expiring on or from 29 May 2023 will be subject to the new rates listed above.
Please note that due to increased banking costs, from 29 April 2023 we will no longer accept cheques as a form of payment. If you can only pay by cheque, please contact us so we can discuss how to support you (email@example.com).
Q: Can I book my audit early to benefit from the current pricing rate?
A: Unfortunately, the date when you book your audit does not affect the pricing. The new rates will be effective from the current expiry date of your audit or membership.
Q: How can I check my expiry date to know if this change affects me?
A: Please log in to the RISQS portal and you will be able to check both your audit & membership expiry dates.
Q: Can I change my expiry date to bring it forward before the new pricing comes in?
A: Unfortunately not, your annual expiry and membership dates will remain the same.
Q: As a new supplier to the scheme, I don’t yet have an expiry date, what pricing applies to me?
A: All new supplier audits are generated with a 16-week advance audit date therefore if your audit date falls from 29 May onward the new pricing rates will apply.
Q: How do I book my audit?
A: The scheduling team will be in contact with you when diaries are available for booking. Please note they will only book with people listed as “authorised contacts” in your questionnaire, therefore it is worthwhile ensuring this is up to date. You can update the portal by visiting: RISQS Portal > ‘Your Requirements' page > Commercial Header > Audit Contact Details.
For any further questions please contact firstname.lastname@example.org.
27 January 2023