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One of the things that gives me the most anxiety when flying is the potential for unexpected turbulence. Whether I’m immersed in a good book, watching a movie, sipping a cold ginger ale, or dozing off to sleep, the sudden rattles, shakes, and jolts of the plane can quickly knock me out of my calm and make my heart skip a few beats.
I’m not the only person experiencing a few unexpected “jolts” these days. On a larger scale, organizations are reacting to many surprising “jolts” while flying through increasingly unpredictable economic skies. New U.S. tariffs and shifting trade regulations are hitting like sudden turbulence, throwing once-stable operations off course. From spiking material costs to fracturing supplier relationships, tariff volatility introduces risk at every altitude of the supply chain.
To avoid a bumpy ride, businesses need more than seat belts and emergency oxygen masks, they need a responsive approach that can quickly determine how their third parties are impacted by new and updated trade regulations early as well as apply automated business rules to course-correct midflight. That’s where Aravo’s Configurable Risk Domains (CRDs) solution comes into play.
With a scalable data model and configurable platform, a CRD empowers organizations to create tailored tariff risk assessments, helping them to evaluate the impact of new tariffs and changing trade regulations on the third parties they engage with, as well as to build resiliency strategies that anticipate and compensate for unpredictable changes. Here’s how it helps:
Aravo’s Configurable Risk Domains (CRDs) capability enables organizations to build and launch tariff-specific risk assessments without needing a product update or code change.
These assessments go far beyond a simple list of questions for third parties to complete. They offer a comprehensive solution that can apply business rules to trigger email notifications, setting up a favorable scenario for quick responses and adaptations. For example, alerting assignees responsible for completing or reviewing a tariff assessment.
Leveraging Aravo’s “Intelligence-first” approach, the solution collects not only inputs from third parties and internal stakeholders but can also integrate information from an organization’s subscribed data and risk intelligence providers. This holistic view ensures all necessary data for evaluating tariff-related risks can be managed within Aravo.
To further clarify what’s possible with an Aravo CRD, organizations can configure the following components as part of a tailored tariff assessment:
This agility ensures businesses can efficiently assess exposure and respond before issues escalate and weather the changes if and when they do occur.
Organizations typically have lots of different third-party types across the business engaging in a range of critical and non-critical services. Aravo enables businesses to extend tariff risk assessments to suppliers, manufacturers, and distributors, gathering critical data on where goods are produced, how they’re shipped, and what trade policies may apply. As the status of a tariff may impact risk evaluations and criticality, this is an important process. By centralizing this information:
This 360-degree visibility helps organizations stay ahead of risk rather than chasing it.
Tariff regulations are rarely static as they shift based on geopolitics, economic strategy, and policy changes. Aravo’s configurable platform ensures that as regulations mature and change, your risk program can keep up. Update risk logic, add new assessment criteria, and generate alerts when high-risk vendors are flagged are all capabilities that your authorized configuration users can do independently using point-and-click/drag-and-drop capabilities (not programming/coding).
With Aravo, you’re not locked into a rigid system; you’re equipped with a living solution that can be quickly updated when business requirements change.
Tariffs can feel like unplanned turbulence on your route to operational stability. But with the right tools, you can maintain altitude and even gain strategic lift. Aravo’s Configurable Risk Domains (CRDs) provide you with the insight, flexibility, and control to manage tariff risks confidently, no matter how stormy the trade winds become.
The horizon is within reach. Let’s steer this plane together. Connect with Aravo today!
Ready to see configurable risk domains in action?
Watch our webinar, “Future-Proof TPRM: Gain Agility and AI-Powered Decision Making with Aravo’s Configurable Risk Domains,” to learn how Aravo can help you rapidly stand up new risk domains, operationalize Responsible AI, and stay aligned with evolving global regulations.
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