Webinar recording: Successful risk management with FRoSTA: Performing a risk analysis for your own business area

In our exclusive live webinar "Successful risk management with FRoSTA: conducting the risk analysis for your own business unit" with Sabine Lemke, Compliance Manager and Human Rights Officer at FRoSTA, and Karoline Rückerl, product expert at Tacto, we explain how FRoSTA was not only able to successfully complete the BAFA audit with the help of a digital tool, but also significantly minimize the effort involved in implementing the risk analysis.

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In an increasingly globalized and regulated economy, effective risk management is crucial to a company's success. FRoSTA, a leading manufacturer of frozen products and ready meals, was faced with the challenge of carrying out a detailed risk analysis for its business areas. In view of the increasing regulatory requirements, in particular the German Supply Chain Duty of Care Act (LkSG), it became clear that traditional, manual methods no longer met the requirements.

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Challenge

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FRoSTA had to ensure that all the necessary information for the risk analysis could be compiled and presented correctly. Without the use of a specialized tool, this proved to be very time-consuming and confusing. A lot of information was stored decentrally and came from different people in charge, which led to a high susceptibility to errors. In addition, there was a lack of specific training and clear responsibilities, which made it difficult to carry out the risk analysis.

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Solution

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By working with Tacto, FRoSTA was able to carry out a structured and efficient risk analysis and is now very well prepared for the upcoming BAFA audit.

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Steps to successful risk analysis:

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1. Preparation: Definition and delimitation of the individual business areas.
2. Training: Access to information material for all managers and employees, which increases transparency and eliminates the need for in-house preparation. This ensures that all employees receive the information they need and have a uniform basis for risk analysis.
3. Risk analysis: Sending and evaluating questionnaires to those responsible in the individual business areas to determine risks. The templates can be customized and edited intuitively, which makes collaboration much easier, especially in an international context.
4. Measures: Identification and introduction of suitable preventive and, if necessary, remedial measures based on the results of the risk analysis.
5. Documentation: Minimized effort for internal and external reporting, such as the BAFA report or the BAFA letter. As the data can be read directly from the system, it is immediately available for further documentation and communication and can be viewed by everyone.

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Successes

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Thanks to the structured risk analysis with Tacto, FRoSTA was able to significantly reduce the time and effort required for the risk analysis of its own business areas. The central presentation of all information and intuitive handling led to high response rates, improved transparency and enabled FRoSTA to successfully complete the BAFA preliminary audit.

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Outlook

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Tacto takes a comprehensive approach to regulatory compliance and future-proofing supply chains. Compliance with regulatory requirements is simplified so that companies can concentrate on their essential tasks. If you would also like to optimize your risk analysis and compliance processes, Tacto offers tailor-made solutions for medium-sized industrial companies.

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