Business Risk Mitigation

GIS' Business Risk Mitigation solutions are a comprehensive suite of services for small to medium sized businesses intended to address key risks your company faces in today's complex and ever changing world.

Risk Considerations

The world has experienced a technology transformation of epic proportions since the Millennium. The impact on business is unprecedented. Enterprises are increasingly dependent on computers, mobile devices, and electronic communications to transact business. The proliferation of information technology has complicated the protection of electronic data, forcing companies to incorporate highly technical operating procedures. Risk management and regulatory compliance have risen to critical significance, often beyond the resources of small and mid-size businesses.

The protection of information is not the only burgeoning risk. In fact, businesses now sense that their landscape resembles a battlefield where cost and resource demands have spiraled out of control. The mere act of accepting payment is costly and becoming more complex with new technologies aiming to stem the tide of pandemic fraud. The chargeback issue is a risk of economic scale that most small businesses are not equipped to deal with efficiently. Yet, chargebacks and transaction fraud cost businesses $100 billion each year. On the other hand, the possibility of an EEO complaint or lawsuit will cause sleepless nights for any small business owner or director. The cost of defending and/or settling such litigation can skyrocket from $50,000 to $300,000, or even higher under extreme circumstances.

Business executives need to incorporate basic risk management skills. Their mindset should recognize all forms of risk including those that are the most difficult to control - natural disasters and lifethreatening emergencies. Yes, a data breach can be devastating. Mounting chargebacks, particularly from fraudulent transactions, can wear down any merchant and an EEOC complaint may seem insurmountable. However, businesses at the epicenter of an earthquake, those staring down an F5 or located in the path of a tidal surge will likely never recover without appropriate proactive planning.

GIS is dedicated to providing risk management assistance for small and mid-size businesses. Our suite of services is already the most comprehensive single-source and includes: data breach response, merchant chargeback advocacy, employment practice services, and disaster response.