How to Reduce the Risks of Possible Financial Losses Using COSA Services
COSA is a consulting agency that has been providing professional services to clients from all parts of the world for more than five years. The company's specialists apply innovative methods to analyze and develop ready-made solutions for various business areas.
LONDON, August 1, 2019 (Newswire.com) - In the course of COSA's work, they found that businesses become more and more dependent on their partners with the growth of the volume of operations and the creation of new directions. This also increases the likelihood of various risks. And although interactions with partners are impossible without confidence-building, COSA's consultants warn that one should not go into a partnership blind.
An approach to conducting business operations should be based on comprehensive, objective and reliable information about a partner (current or future business partner, supplier, customer or employee), his real financial condition and his business reputation. Only then will the cooperation be as efficient and safe as possible, in terms of potential reputational and business risks. These are precisely the tasks that are included in COSA’s comprehensive reliability check, which is known in the world as Integrity Due Diligence.
Today, IDD is part of the company's risk management process, which goes beyond routine open-source checks or a general study of the inspected object. This is a comprehensive analysis of the activity of the target object or a third person, which allows one to get an idea of the real state of affairs.
How the Integrity Due Diligence process is carried out
Unlike conventional Due Diligence, Integrity Due Diligence is often carried out confidentially and, as a rule, remotely. In fact, this is an analysis of a vast array of data from various sources.
This can be information from open data, information from external service providers, information from other reliable sources related to the verification of business reputation. This is especially important for countries that do not have or are limited in providing public information or when such public information is insufficient to make informed decisions. Such cases require the support of specialists with relevant experience and expertise.
Specialists of companies such as COSA, https://cosa.solutions/, manually study the necessary information from various sources, conduct independent investigations, visit facilities, check the accuracy of data, etc. with the subsequent provision of information on identified risks and ways to minimize them.
IDD is also a collection of analytical technologies aimed at assessing unobvious, hidden risks. Among others, there may be: the risks of loss of property or intangible assets, the purchase of suspicious objects, hostile takeover of a business, the initiation of litigation, fraud and corruption.
Source: COSA SOLUTIONS
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