Tag Archive for: Risk Management

What are the consequences of poor risk analysis and risk management?

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We have already talked about the importance of good risk analysis and management for every kind of organization. On the other hand, poor risk management has the ability to impact your business severely on each level. Let’s have a look at the potential consequences that this could lead to. Below you can find 5 of the most significant impacts of poor risk management as well as what you could do about them, or avoiding them. Read more

Everyone Needs Risk Management

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Usually risk is only thought of as the thing that can ruin your life and/or business. Indeed, risk events of any category can be fatal to a company’s strategy and eventually to its survival. Risk analysis and management is a huge industry which includes thousands of companies but it is also for the individual too. Because individual investors face many risks too. Read more

What is ICS2.0 all about?

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An EU Strategy and Action Plan for Customs Risk Management was adopted mid-2014. It identified the actions to reach more coherent, effective and cost-efficient EU customs risk management at the external border of the EU. The risk management strategy pointed out seven priority areas, impacting IT, legal and procedural aspects. They should be achieved within the timeframe of the implementation of the Union Customs Code. Therefore, two areas have been identified as the first operational priorities. The first one is the need for high-quality data on supply chain movements and also its proper availability and communication. The second – risk-relevant information-sharing including control results.
The Union Customs Code together with its Implementing and Delegating Acts have introduced new legal obligations which necessitates ICS2.0. Read more

Essential steps for a better project risk management

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When one starts the planning process for a project, one of the main things (or the main one) of your planning makeup is risk itself. In other words – what could possibly and eventually go wrong? To many of you it may sound as а negative mindset but it is in fact a preventative one. Issues are an integral part of every process, but if you have a strategy in mind to tackle them, risk will be minimized and managed. Read more

Meet LaRA – Latona Risk Analysis System

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We are proud to introduce you LaRA – Latona Risk Analysis System for Customs Authorities.

LaRA is designed and built as an intelligent platform for enhanced analysis of risk in the trade of goods across borders. It is easily integrated into different customs operations to support trade facilitation, national security, public safety, and revenue collection. With the support of sophisticated technologies, the system delivers insights for strengthening Customs Administrations capabilities. It also improves visibility, agility, and control over operations. Read more