CURRENT CHALLENGES
In times of the current crisis, corporations, in particular, must cope with the following challenges:
- Stress
absence or manipulation of information or facts, internal environment, society - Constant changes and chaos
internal and external communication, frequent changes of legal and regulatory framework, necessity of home office, absent or demotivated managers and employees - Risk of company losses and inefficiencies
of revenue, cash, engagements/clients, production reduction, threat of insolvency, business continuity issues, inefficient or incorrectly processed M&A - Sensitive data leakage threat
less attention to possible misuse of company data, less vigilance in respect of data sharing and their subsequent manipulation - Hackers attacking company’s infrastructure
targeting sensitive data and thus company values - External fraud attacks
organized crime groups’ attempts to misuse the crisis situations - Internal fraud
enabled by the imposed exceptions from standard processes and their controls or committed by disgruntled or dismissed managers and staff
POTENTIAL DAMAGES
Following the above challenges, companies may in such critical times experience rise in significant damage that may seriously affect their business:
- Insufficient or inefficient management due to health, capacity, or other limitations may lead to poor decision-making in operational matters or restrictions within key operational processes
- Losses from business restrictions or even collapse in a form of revenue losses while fixed costs remain unchanged, negative profit effects, dividends restrictions, corporate value deprivation, cash-flow management issues, or damaging of supply chain
- Company data misuse through loss of key business information, insider dealing, loss of human resources or intellectual property, and damage to the reputation of the firm
- External fraud losses (e.g. social engineering) targeted at understaffed and/or stressed employees and managers
- Company assets’ and values’ misuse as a consequence of internal fraud through manipulation of financial statements and reporting, of tendering and orders, of pricing, or caused by bribery or corruption
- Investment capital losses due to inefficiencies resulting from incorrectly processed M&A lacking in particular appropriate pre-transactional risks assessment
OUR SUPPORT IN A CRISIS
To mitigate or significantly reduce the impact of the above-mentioned risks and help you with the challenges described, DABRICON stays by your side in close and confidential cooperation with your personnel while applying the following efficient procedures:
EMERGENCY PHASE
Short-term
Imminent risk analysis, in particular, of critical operational business areas, incl. KPI manipulation risk evaluation, crisis behaviour of managers and employees, to provide for quality decision-making
Personnel matters implementation assistance sufficiently reflecting the imminent risks resulting from the staff reductions, particularly in respect to the company’s future operations and business continuity, potential disputes and litigation, risks of increased (unfair) competition and potential misuse of company’s value, and fraud
Proposed content and forms of company communication through established protocols both internally and externally reflecting potential risks resulting from improper communication regarding the current state of company processes, communication with customers, vendors, financial institutions, state authorities, and managers and employees
Sensitive data protection through an urgent review of IT activities relevant to the use and security of a company’s sensitive data during its creation, manipulation and transmission, efficient access rights restrictions, data transfer observation, data backup security compliant with rules and regulations, continuous data monitoring for prevention of wrongful or fraudulent use
Continuous support in ensuring smooth operations of the entity within the framework of crisis measures carefully considering the above-mentioned procedures
REACTIVE PHASE
Mid-term
Strengthening the risk management system during the “back-to-normality” or “new normal” process
Supporting you in assessing the respective damage by establishing a specialized team to analyse the relevant harm incurred since the start of the crisis, considering all relevant aspects, calculation of their value, establishing the respective alternatives for use with further legal steps including in and out-of-court litigation
Assistance with claiming damages from insurance companies, the state, business partners, employees and managers, in close cooperation with your legal representatives
Providing professional support through the process of company value recovery based on binding legal or regulatory decisions regarding the caused injury, including those from abroad
Using our risk management expertise to help you appropriately assess risk aspects within the envisaged M&A/transactional process into a crisis-plagued/bargain target
PREVENTATIVE PHASE
Long-term
Assistance with the implementation of measures that strengthen process and control mechanisms of risk management, including compliance with the constantly changing legal and regulatory environment
Detailed data analyses focused on identifying the most endangered IT systems and consequent changes needed for their re-setup, organisational fit and functioning to achieve optimum performance, while simultaneously providing the highest level of security and resistance against future crises
Data and security vulnerability, resistance, and penetration testing of a company’s IT systems
Setup and installation of escalation and crisis plans
Re-enforcing of a company’s culture by way of managing changes and assisting with their implementation into the corporate culture, ethics, and change adaptation management, in particular during crises, using the best practices learned from the ongoing crisis
Using our risk management expertise to help you appropriately assess risk aspects within the envisaged M&A/transactional process into a crisis-plagued/bargain target
Relevant references
Our solutions
About DABRICON
DABRICON offers highly qualified, wide-ranging yet boutique type of risk consulting and support. Our clients do not fear to consider adverse sides of business. Proactively. To their competitive advantage
We look professionally at risk and compliance within and around your business. Our goal is to provide flexible, independent and unbiased expert view at your business and the risks affecting it. In a boutique full-trust form. For the sake of your wellbeing.
DIFFERENT NEEDS, DIFFERENT APPLICABILITY
Our team quickly reacts while being flexible by your side, thanks to our unparalleled experience with risk management for clients in various industries over the last decade. We are ready to be your partner in these critical times that you might be facing now through no fault of your own!
