Private investigators are an important part of society. These trained professionals are skilled in investigating issues and gathering information, all the while staying undetected. It is not uncommon to think of cheating spouses when the subject of private investigators is raised. However, these professionals do much more. Steven Feakes investigators, a top private investigation company revealed that private investigators can also help businesses in a lot of ways.
As a business owner, you may need the services of a private investigator to handle some aspects of your business and also to ensure your business’s success. If you are wondering how a private investigator can help your business, read on to find out.
Business Acquisitions
Business acquisitions are an important part of the business world. Larger and more financially stable businesses may choose to buy smaller ones or those in a financial crisis but with great prospects. This expansion goal can be complex to navigate and the acquiring company needs to know everything about the business they are purchasing. To get all of the important details that’ll inform your overall decision to buy or not, you need the services of a private investigator. Private investigators conduct due diligence and offer business due diligence reports that analyze the other business’ position and also arm the buyer with important information that can be used during negotiation.
A due diligence report often offers a comprehensive overview of the target business and offers information like company profile, subsidiaries, current and former employees, parent company, corporate assets, officers and directors, liens, corporate assets, judgments and bankruptcies, and property information (including evictions, foreclosures, and UCC filings). Added to this information, some private investigators may also offer risk assessment reports, collections, and analyze other risk factors that can influence the buyer’s decision.
Attorney Referrals
Choosing the right attorney for your business can be an especially hard task. There are thousands of law firms in the United States and millions of qualified attorneys who tout their legal services as superior. Making the right selection from the thousands of options can be hard but private investigators can make the process simpler. Private investigators often have a handy list of lawyers that can be referred to you for your legal needs. You can then proceed to vet the referrals to make a hiring decision.
Private investigators handle a wide array of business and personal cases which brings them closer to different lawyers across a wide array of specialties. They would also have worked with those lawyers at some point which gives them an idea of the lawyer’s competence. Based on this information, private investigators have a narrowed-down list of attorneys that will save you time and increase the chances of making the right attorney hiring decision.
Due Diligence On Chief Financial Officers
Financial officers are hired to take good care of your money while you work on ways to bring more money into the company. Sadly, some financial officers aren’t trustworthy and may choose to siphon money from your business for personal use. This will hurt your business’ financial record and also rob you of the expected bottom line. Enlisting the services of a private investigator is an excellent way to track mismanagement, embezzlement, or financial fraud within your business.
Private investigators are skilled in the area of investigating frauds and mismanagements. These professionals are equipped with the right tools and financial forensics techniques that can help to uncover fraudulent activities that can ruin a business. During the investigation, they may uncover fraud or other issues that may have been swept under the radar. In economic terms, hiring a private investigator for a few hundred dollars to uncover hundreds of thousands of dollars in fraud is a worthy decision.
Background Checks
Business owners should have as much information as possible on each of their employees. This information can help them to determine whether an applicant or employee is a right fit. To obtain the necessary information, you must carry out background checks. Private investigators offer help with background checks which look into the past of each employee or applicant to uncover records that may violate the company’s policies. With the increasing rate of thefts recorded in businesses across the United States, an employee background check may save your business from significant losses.
Current statistics reveal that American businesses lose about $32 billion annually from theft, with employee theft accounting for as high as 35% of the recorded cases. Private investigators know what to look for to uncover patterns that may indicate illegal or irresponsible behaviors. They also conduct in-depth research into the education, work, and criminal history of the subject.