Risk Intelligence A/S sees renewed increase in Advisory Services demand entering Q3 2020
22 July 2020
Risk Intelligence A/S (“Risk Intelligence” or "the Company") has seen renewed increase in demand for their Advisory Services as the Company enters Q3 2020.
The impact of COVID-19 during the period from February to June resulted in an almost standstill in Advisory Services, which is Risk Intelligence’s delivery bespoke consultancy to its clients, which is supporting the Company’s subscription- and web-based Risk Intelligence System. The decrease in business was due partly to restrictions for visiting clients’ offices around the world, partly due to restrictions or direct ban of travelling to nearly all regions of the world, and partly due to some restrictions on clients’ operations.
During the end of June and early July a project combing a number of clients’ mutual interests within due diligence have been initiated, which will be delivered in July. Compliance is key within the shipping industry but in this unprecedented time it is even more critical to perform accurate due diligence. Risk Intelligence has carried out due diligence on behalf of clients since 2007 and are seeing renewed increase in clients wanting the Company to undertake independent assessments of security service providers they are utilising or considering using for future operations. The potential legislative pitfalls attached to the use of private security providers are potentially severe, and Risk Intelligence help clients operate with confidence and transparency.
Hans Tino Hansen, CEO of Risk Intelligence says:
“It is significant that we are getting new contracts within Advisory Services in addition to the earlier reported uptake in new business within the Risk Intelligence System. On one side, security risks do not disappear during time of economic crisis, and may even increase, and the same applies to pandemics and subsequently the demand for security intelligence and analysis stays intact or increases. On the other side the COVID-19 situation has nearly stopped the delivery of Advisory Services until now. I am pleased that our team and our clients have initiated this new project, while there are several others on the way – some postponed from the mentioned period and some that has arisen from exactly the challenges our clients have met during the period ”
The Risk Intelligence Advisory Services
Risk Intelligence provides independent, unbiased, intelligence-led advisory services to private and governmental clients. The Risk Intelligence Advisory Services consultants and analysts draw on significant experience from commercial shipping, flag state, security, and military organisations.
Risk Intelligence believes that only through thorough understanding of risk and threats combined with clear insight into the clients’ needs the high-quality threat and risk assessments and consulting needed today can be produced. The Company strive to be a proactive partner for clients on matters of security through foresight, dynamic client relationships and tailored advice.
The reports are configured to meet client specific needs and budgetary constraints. Risk Intelligence reports are compiled by experienced maritime and security experts and each report undergoes comprehensive quality reviews before delivery.
The total value of the contract is about 275,000 DKK and will fully impact revenue in 2020.
For more information on Risk Intelligence A/S, contact:
Hans Tino Hansen, CEO
Jens Krøis, CFO
Telephone: +45 7026 6230
E-mail: investor@riskintelligence.eu