Organized business intelligence practices have emerged as one of the most efficient ways to measure and understand business performance for New York executives.
New York, NY (PRWEB) April 09, 2013
Informed decision making is at the core of business success. Calculating risks through Business Intelligence (BI) and effectively assessing opportunities after conducting thorough due diligence investigations form the foundation of a sound management strategy.
According to a recent survey by popular news and technology blog DigitalOlympus.com, over 50% of small to medium size companies in New York City believe business due diligence investigations are a viable tool for combating fraud; some of them are even currently conducting (or are open to conducting) due diligence investigations.
The survey showed that one in three senior executives is open to employing professionals in due diligence who are capable of helping their companies develop strategies and programs that mitigate fraud risk by verifying financial statements, assets, criminal histories, qualifications and other credentials.
“The survey yielded interesting insights regarding formalized business intelligence practices,” says Josh Cole, a lead researcher with DigitalOlympus.com. “Organized business intelligence practices have emerged as one of the most efficient ways to measure and understand business performance for New York executives.”
“While all the senior executives who participated in the survey agreed that proper due diligence should always be included as part of a comprehensive business intelligence strategy, they highlighted background investigations on existing and prospective employees as a key factor in fraud deterrence,” noted Cole. “Remarkably, there were discrepancies regarding their ongoing business intelligence programs. Some companies assured to be interested in BI, but considered it too time-consuming to do it in-house.”
According to Digital Olympus’ top tips on fraud mitigation, these findings exemplify just how important it is for small to medium size companies to employ third party professionals when required. Especially because the data generated as a result of due diligence investigations could be used for litigation support should the need arise. If fraud is suspected within the company, it’s best to employ a professional investigative service agency.
DigitalOlympus.com is a news blog dedicated to educating its readers on the latest technology advances. They are committed to gathering information on up and coming technologies that will enhance the lives of their readership. DigitalOlympus.com is always at the forefront of technology news and events guiding its readers to accurately determine the best course of action for themselves and their businesses.