The process of supplying and selling goods covers a wide range of operational risks, from ensuring that the available evidence is sufficient for the delivery of goods and transfer of ownership, to managing the buyer’s payment risk.
When trade takes place in more than one EU country, the management of VAT risk becomes particularly important, as cases of fraud are quite common. Therefore, one of the main ideas behind RiskPlanner was the desire to develop a tool and solution that would include complex risk management of the sales process: the assessment of risk and financial condition of individual business partners and the entire customer portfolio, the management of legal and logistics risks.
Driven by this idea, UAB “Idėjų valda” and research partner Kaunas University of Technology (KTU) have joined forces to develop a risk assessment and management model for sales processes, which, with the help of artificial intelligence (AI) and big business data management systems, helps companies to identify and manage the risks arising from the trade chain.
In this project, UAB “Idėjų valda” and KTU collaborated with DreamCubator, which created a solution that brings real benefits.