Managing risk in your business is an important skill. To be most effective, you need to develop many important skills in you and your staff. However there are times when you need an outside perspective.
While Medilife specialises in helping you manage risk and emergencies an often neglected part of risk is the health and wellbeing of your business.
One aspect of that is the risk of fraud and ‘shrinkage’, obviously risks that can severely and adversely affect your business. With that in mind i’d like to make you aware of a company, Insight Intelligence, who likewise specialise in the asset health of your business.
During the life of most companies you can experience workplace related injuries such as accidents and incidents, as well as issues of harassment or bullying, or discrepancies in cash or merchandise due to internal theft.
The company will be immediately effected regardless of whether or not a worker’s compensation claim is lodged.
The staff member could be missing from work for a lengthy period or worse, indefinitely. There could be internal conflict which needs to be investigated or resolved. In any case, the business will likely be impacted in both the short and long term.
Insurance premiums could rise with more than one incident or if the source of the issue is not identified and resolved which could result in additional incidents.
When it comes to serious workplace related injuries, the organisation will need to lodge a claim through their insurer and the incident will need to be investigated, preferably by an external independent source. These types of investigations are known as “factual investigations”.
Insight Intelligence can act as independent factual assessors on your behalf.
They approach factual investigations with care and understanding, and work toward moderating the impact on you and your organisation, your employees, and any third party involved.
Internal theft can destroy a business, erode the confidence of owners, as well as create huge financial losses. These losses need to be identified and mitigated as soon as possible. This an area where Insight Intelligence can help.
The most commonly asked question is why do some businesses experience greater financial losses due to internal theft than others? To answer this question, the organisation or business firstly needs to review their existing policies and procedures as well as review their protective measures in preventing internal theft, usually known as “fraud”.
Fraudulent conduct breeds in an environment where systems, standards and procedures are exposed to exploitation by staff, contractors and/or clients.
It is in the best interest of the decision makers within any organisation to ensure that all asset protection and control measures are not only maintained as highly visible, but also communicated to all staff, contractors and clients.
Insight Intelligence also assists clients who are experiencing problems with internal theft through surveillance investigations.
They do this by analysing existing systems and exposure and obtaining statements through interviewing witnesses and stakeholders. They gather any evidence of fraud through covert surveillance methods, through forensic investigation techniques; they can trace funds, goods or assets to local or overseas sources, and then provide documented and real evidence to stakeholders and business owners for legal action against those identified as perpetrators for prosecution.
If you would like to “investigate” how Insight Intelligence can help your organisation minimise risk, please contact them on 02 8882 9837