Page 18 - Paragon ID

Understanding risks and challenges
In a constantly-changing world, the success
of a business relies on its ability to anticipate and manage risks whilst making the most of opportunities. Paragon ID strives to deal with the challeges facing our industry specialising in cutting-edge technologies. This report highlights our in-depth analysis of relevant risks and major challenges and demonstrates
our commitment and determination in guaranteeing sustainable and resilient performance.
For many years, our company has developed an exhaustive mapping of potential risks. Our strategy consists of drafting an annual inventory of risks, assessing their level of severity and seeking solutions to limit their potential impact.
This annual risk update is then submitted for the joint approval of General Management and the board of directors. Nine pertinent risks relevant to our Extra-Financial Perfor- mance Statement (EFPS) have been identified and classi- fied into three distinct themes. Each of these risks, or risk areas, is then linked to one or more indicators and action plans. We monitor these using key performance indicators, calculated over the period running from 1st July 2022 to 30th June 2023. The full list of identified risks for our com- pany is available in the Universal Registration Document (URD), which can be viewed on the Paragon ID website.
We have added seven challenges which we want to focus on in this Performance Report.
Innovation and eco-design are fundamental for Paragon ID and we have also chosen to outline our initiatives in these areas.
3 risks
have a severity level of over 3/10 and are considered as primary risks (Compliance with regulations, Workplace accidents and Staff Turnover).
6 other risks,
although not primary risks,
we wish to include these in the report.
7 challenges
which, after analysis, have a non-material severity level and are consequently considered as challenges.
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| Extra-Financial Performance Statement 2022/2023