Thu, Apr 16, 2020

Kroll Heat Map Forecasts the Impact of COVID-19 on the Global Economy

Kroll analysts map the effect of the crisis on economies around the world in real time

Heat Map identifies the sectors in the UK which are currently most at risk

Heat Map tracks global trends to help organizations build strategies and adapt operations

London – Amid the Coronavirus (COVID-19) pandemic, Kroll, the global leader in risk mitigation, business intelligence, investigations, compliance, cyber resilience, security and incident response solutions, launched the Kroll COVID-19 Heat Map today. The Heat Map provides business leaders around the world with a robust snapshot of forecasted economic impacts, visually demonstrating the impact the COVID-19 pandemic and the associated government responses is having on economies and certain key sectors. 

Some of the global risks that are emerging include:

  • Companies employing social media influencers facing brand and reputational damage from the posting of poorly informed, inappropriate, inflammatory or socially disruptive material by individuals associated with their name and products.
  • Widespread production interruptions and stoppages across the world, and significant financial stress to global supply chains. Many companies will not be able to survive in the short-term or recover when the crisis subsides.
    • Transitioning to new suppliers takes time, as companies still need to vet them financially, operationally and reputationally. Even when new suppliers are qualified, they will not be immediately operational, for example due to production approval processes in heavy industries, and regulatory approval processes in healthcare and other highly regulated industries.
  • Disputes arising as businesses seek to take advantage of the current disruption to renegotiate contracts, dismantle joint ventures and default on obligations, and this may result in fraud or corruption.

Created to track trends across regions over time, the Heat Map will help decision-makers spot developments to inform and drive operational strategies. It is the result of carefully executed open-source and government data research and insights from Kroll’s global team of analysts.

Jordan Strauss, Managing Director, Business Intelligence and Investigations at Kroll, comments: “People, governments, and organizations across the world are undergoing a period of great uncertainty as they negotiate both health and economic crises. Information on the pandemic and its impact is scarce, fluid, and difficult to process. At Kroll, our core business is about giving clients solid intelligence to help them understand and manage complex events like this one. That is why our analysts and data scientists created the Kroll COVID-19 Heat Map – to give leaders insights into how their people, global operations, supply chains and stakeholders are being impacted. We will continue to help our clients and the public monitor the situation and support their efforts to adapt their strategies and operations to meet the challenges of a changing world.”

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