7 Reasons to Hire Global Risk Consultants

7 Reasons to Hire Global Risk Consultants7 Reasons to Hire Global Risk ConsultantsRisk management is challenging enough for any geschftliches miteinander, but for companies with weltweit operations and interests, its even more arduous.The global risk landscape is always evolving, and organizations must be able to respond effectively - often at a moments notice - to everything from new market opportunities to business continuity management.To stay nimble, companies rely on the specialized expertise and strategic advice of global risk consultants. Here are just seven reasons why businesses hire unterstellung professionals1. International accounting and taxationGlobal risk consultants help companies navigate the often complex maze of accounting rules and tax laws that vary by country or region.International Financial Reporting Standards (IFRS) is one area of expertise many companies seek. For example, global risk consultants with IFRS knowledge can help U.S. businesses ensure they are meeting foreign reporting requirements.Looking for consulting solutions? Call1.877.817.2072for personalized assistance with your hiring needs. 2. Regulatory complianceAccording to the Executive Perspectives on Top Risks Survey, from Protiviti and North Carolina State Universitys ERM Initiative, regulatory change is the top business risk executives are concerned about. (The survey included organizations based outside of the United States.)Global risk consultants provide management with insight on how regulatory compliance changes at home and abroad may impact operations and costs, and influence business decision-making in areas ranging from hiring to investment.3. Global supply chainWeather and natural disasters, major equipment failures, labor strikes, acts of terrorism - these are only a few examples of risks that can significantly disrupt a global supply chain. Companies that rely on or manage global supply chains must also stay on top of legal, security, cultural and other issu es that could interfere with supply chain efficiency and create liabilities for the business.These factors, and more, drive demand for global risk consultants who understand supply chain risks and can help businesses to avoid or mitigate them.4. International mergers and acquisitions (MA)Global risk consultants can be critical to the success of cross-border MA deals. They can assist with strategy development, partner selection, due diligence and deal closure. They can also keep management apprised of regulatory and tax obligations, foreign currency dynamics, and political complexities that may impact the companys ability to complete a transaction - or realize value from it.Organizations that pursue MA deals also need to factor in the human side of these transactions. In addition to meshing corporate cultures, they must consider kompetenzprofil turnover issues and barriers to productivity. Global risk consultants can play a vital role in guiding this type of change management, inclu ding post-merger.5. Business intelligenceGlobal risk consultants with expertise in business intelligence can provide a variety of services to monitor, manage and analyze business conducted internationally. Fraud detection and customer analytics are just two examples of these types of services.Global risk consultants with country- or region-specific knowledge can help companies entering that particular market to use business analytics to assess conditions and the likelihood of changes. This includes information on the domestic industry and local competitors, consumers, and government regulations.6. CybersecurityCompanies have a lot to worry about from a digital perspective when they do business on the global stage. Varying, and often conflicting, data security requirements by different countries, and increased risk of data theft and fraud are just some concerns.Cybersecurity-related services that global risk consultants can provide include strategic consulting to create an effective security plan technical consulting to develop and maintain the technology managed security services and business continuity and disaster recovery.7. Political concernsBusinesses often look to global risk consultants to help them assess the political situation of a country or region and the associated risk of doing business in the market. This expertise can be especially useful to companies ramping up operations in a new international market or conducting business in parts of the world where there is significant political instability.As general demand for risk management consulting services increases and business becomes only more global, the need for global risk consultants will grow, too. Skilled professionals who follow this career path will find no shortage of interesting projects. Tags