Risk & Compliance

In today's highly competitive business landscape, manufacturers are constantly searching for new ways to stay ahead of the competition. One strategy that has emerged recently is to build more informed relationships with customers, using data and analytics to gain a deeper understanding of their needs, preferences, and behaviors. In this article, we will explore the benefits of this approach and discuss how manufacturers can achieve these benefits to create a more competitive business. Advantages of Informed Customer Relationships: Improved customer loyalty and retention By using data to personalize the customer experience, manufacturers can develop deeper [...]

Most business organizations across different industries remain reliant on outsourcing to gain a competitive edge—a trend that also reveals the growing third-party security risks. When businesses contract with third parties, they open a critical aspect of their operations to vendor-related risks and threats. Poor vendor management program should be considered as a major threat by business leaders today. Companies failing to assess vendors thoroughly suffer significant financial, compliance, operational, and reputational damages. As the threat of cybercriminals and attackers continues to magnify, new waves of attacks are anticipated to emerge—further highlighting the urgent need for [...]

The Paycheck Protection Program (PPP) was established to help small businesses afford to keep their employees on the payroll throughout the COVID-19 pandemic. Now that the set duration of PPP has come to an end,  many businesses, still struggling with the impact of the pandemic, are forced to look elsewhere for funding. With  PPP completing its second round and coming to a close, alternative lenders credit unions, institutional lenders, and other non-bank sources of funding are already seeing a spike in demand. Banks, meanwhile, are heavily focused on loan forgiveness in the wake of the pandemic's [...]