As we develop the ADAMftd platform, we intend to include capabilities that assist businesses in identifying and assessing the potential hazards associated with engaging new buyers. This exhaustive risk assessment aims to consider numerous factors, including:

 

  • Financial risks: Examine the payment dependability of prospective purchasers by examining their standard terms of trade, preferred currency, export controls, and supplier credit ratings.
  • Counterfeit Concerns: Assess whether a buyer is selling counterfeit or unauthorized goods comparable to yours, and identify illicit channels utilized by other market sellers.
  • Deliverability: Compare the average delivery times of competitors, consider port congestion and lead times, and assess your ability to deliver products on time to customers.
  • Geopolitical Factors: Consider potential buyers in light of geopolitical issues such as war, sanctions, nationalism, protectionism, and free trade agreements, as well as the buyer’s involvement in unlawful upstream activities.
  • Geographical Challenges: Consider climate-related hazards, extreme weather events, and seasonal fluctuations in demand and supply that may have an effect on your trade.
  • Cultural Aspects: Comprehend the cost of doing business in a particular region, as well as any cultural, legal, or contractual hazards associated with concluding agreements.
  • Human Rights: Determine whether a potential purchaser respects and upholds human rights and ethical business practices.
  • Diversity and Inclusion: Determine if the buyer operates a diverse and inclusive business that correlates with your organization’s core values.
  • Competitor Risks: Analyze the potential risks posed by competitors when engaging with a new customer.
  • Negative Media Coverage: Examine any negative media coverage associated with a client, as it may have an impact on your company’s reputation, even if you are not directly involved in the reported issues.

 

By incorporating these risk assessment features into the ADAMftd platform, we hope to equip businesses with the means to make informed decisions when engaging with potential customers and expanding their market reach.