Risk Mitigation and Management

Running a business is not as simple as it appears on the surface. Challenges and hurdles exist at each stage. Sometimes, even the most reputed companies find it tough to maintain their standard flow and rhythm. A variety of threats can make it hard for operations, finances, reputations and regulations.

That’s why, a business should be ready to navigate the uncertainties of the market with confidence. To achieve success, it’s important to first understand and assess all the potential risks and then take appropriate measures to tackle them effectively. Hiring the services of a reputed private detective agency like Sleuths India can help you a lot. It is aware of the risks your business can face, help you identify and then mitigate them timely.

Sleuths India has an expert team to offer Risk Management Agency services to any organization or high-profile individual. We can help clients proactively identify impending risks and implement robust strategies to neutralize and minimize their impacts.

We’re a top risk management agency and can devise a customized risk management framework for your business. Our services are aimed at enhancing your risk management capabilities. Whether yours is an established business or a promising start-up, our proven approach to risk mitigation and management can bring you great success.

Reasons for Using Risk Mitigation & Management Services

Successful businesses never wait for threats to appear. Rather, they are always proactive in implementing strategies for risks and minimizing the threats. You can do the same by leveraging risk mitigation services and protect varied interests.

Reasons are many for using risk mitigation & management services -

• Mitigating the impact of potential risks and protecting the valuable resources and assets of the business
• Having an informed knowledge of risks associated with business decisions or actions
• Identifying possible disruptions and devising strategies for unforeseen events
• Ensuring smooth functioning of the business by keeping hassles away
• Complying with the laws and regulations to minimize reputational damages
• Navigating the uncertainties of the market by adapting to routine challenges

Types of Risks Mitigation & Management Handled by Sleuths India

At Sleuths India, we understand how risks are inevitable and they will happen irrespective of the kind of defence mechanism in place. The right approach is accept the trust and be prepared for challenges to operations. Having an experienced partner by your side can help you handle a variety of risks effectively. With us, your business can mitigate different types of risks, including -

1. Compliance Risk
This type of risk is always around the corner as it happens due to violation of laws and regulations. There will be many violations in course of running a business, some will be unintended while others, deliberate. Many reasons can be there when a business fails to adhere to the law, inviting punitive fines and loss of reputation as a consequence.

2. Legal Risk
Not meeting the obligations of a contract is a key reason why legal risks happen. In addition, not running the business as per the prescribed rules of the land can also lead to this type of risks. The earliest a business manages legal risks the better, else it can result in expensive lawsuits and loss of reputation for the business. An expert legal risk management partner can help you stay one step ahead of legal risks.

3. Reputational Risk
Both internal and external factors can play a role in causing reputational risks to a business. In some cases, it’s your employees whose actions will harm the reputation of the business; other times, risks can come from outside as well where malicious intent could be the reason to malign your business’ reputation. If reputational risk management effort is not in place, it can lead to situations where your customers may lose trust in your brand, affecting the profit and prospects.

4. Operational Risk
Risks to your operations can come in many ways. Most of the time, it will be the fault or error of your employees disrupting the flow of operations. Sometimes, other cases like misuse of resource, theft, fraud, embezzlement can also pose risks to operations. Such risks may also arise when a deliberate damage is caused to machines or resources. An operational risk management company can help defend your operations against impending risks.

5. Human Risk
Employees not performing their basic duties well or deliberately underperforming for some hidden motives are key factors behind human risks to the business. Misuse of power, lack of priority, and favouritism are some other reasons for this type of risks.

6. Security Risk
Such risks are very high in today’s digital age. They can happen to most of businesses due to the absence of effective cybersecurity strategies in place. Having a weak information technology (IT) system in place or using outdated software tools and software could also enhance security risks for the business. In some cases, it’s your employees whose deliberate faults and mistakes can compromise the security of the business. Hiring a security risk management expert can keep your business safe from potential risks.

7. Competition Risk
Risks from competitors are among the most potent your business will ever face in the market. These risks have the potential to cause huge damages through their deliberate strategies or actions. Competitors may even collide with your employees to cause your business risks.

8. Physical Risk
Risks to your business’ infrastructure and assets like tools, equipment, office premises and workforce will always be there. Physical risks will not always be natural as sometime they can be human-caused accidents as well. Many a time, physical risk arises when done with malevolent intention.

How Does Sleuths India Mitigate and Manage Risks?

Step 1 - Identification of Risks
We will work with clients to first identify and recognize potential risks.

Step 2 - Risk Assessment
A comprehensive assessment is done of each risk to the business. We then evaluate the chances of risk repetition and its potential impact on the business.

Step 3 – Risk Prioritization
Based on risk assessment, we can set priority for each risk. We prioritize risk after thoroughly analysing their potential effect on the business. Risk prioritization helps us prepare the resources to tackle the most critical risks in a defined order.

Step 4 - Risk Mitigation Strategies
A good understanding of the risks, their impact and priority helps us reach the stage of strategy development. In this stage, our main focus is on devising the preventive measures and response strategies for various risk factors for the business.

Step 5 – Strategy implementation
Strategy implementation is the most important stage that we reach after having devised all the strategies beforehand. In this stage, we conduct a detailed search into the risk/s, use the most advanced tools and technology for solutions, and achieve the result.

Step 6 - Monitoring and Review
Our team continuously assesses the effectiveness of the mitigation strategies implemented by us. At the same time, we keep an eye on the risks for the business and evaluate the situations. The entire risk scenario is reviewed and analysed to check whether the business is adaptable to evolving threats.

Step 7 - Reporting
A detailed report is prepared in the end. All the risk solution implemented are then reported to the client in a strategic manner. We ensure that the clients stay informed of the actions we took and the results we achieved.

Sleuths India’s USP for Risk Mitigation & Management

Sleuths India is among the best risk management companies in India specializing in risk mitigation & management through unrivalled excellence in investigation. We have over two decades of experience in handling cases that involve risks to businesses from across industry verticals.

Here are the key reasons why we can be your trusted partner for risk mitigation and risk management -

• You can trust us for conducting extensive background verification and checks for employment, business partnership and other purposes with the goal to minimize risks to your business.
• Our team can be hired to mitigate various risks to businesses through detailed background checks on debtors, creditors, vendors, suppliers, customers, business partners.
• We specialize in fraud investigation by employees related to cases of bribery, kickbacks or commissions from vendors/ suppliers or other related parties.
• Our team can quickly crack cases where your employees pass on sensitive information to competitors, or steal data or material to harm your interests, or involved in theft & pilferage cases.
• We can investigation whether you employee is running a parallel business, or running the same type of business and taking away your customers.
• Our team can quick solve cases where employees are involved in misappropriation of funds, or where they collect payments from parties but deposit the money into own accounts.
• You can rely on our expertise to investigate cases that can pose risks to your business like procurement fraud, account cheating, and involvement in trade union activities.
• Big businesses avail our services for various types of corporate due diligence such as joint venture/partnership due diligence, customer/distributor due diligence, vendor due diligence, individual due diligence, creditor due diligence and debtor due diligence.
• We can successfully investigate suspicious-looking cases of fire, arson, sabotage, damage to property and incident that appear intentional but being passed off as natural act.
• Our team has a big reputation for whistle-blower’s investigation as we can properly examine into a whistle blower’s complaint with the view to avoid the risks from various frauds, cheating, unethical behaviours, and abuse of power and so on.