Mitigating risk with business partners
A Deloitte Insights podcast
Companies frequently make agreements with their business partners with the intention of a mutually beneficial relationship, but what can occur is the exact opposite. Companies can lose money in these relationships because of unique risks associated with the extended enterprise: they may not receive value they are entitled to, they may overpay or underpay their partners inadvertently, brand issues may be exacerbated, or they may rely on inaccurate information from partners. These issues can go unnoticed, unmonitored or neglected for long periods of time.
In today’s global economy, companies need to engage in strategic relationships to break into new markets, reduce costs and increase efficiency. In such extended enterprises, companies are often exposed to unnecessary and sometimes dangerous risk. To protect material and intangible assets such as intellectual property, brand name and reputation, companies must learn how to manage risk. This Deloitte Consulting LLP podcast discusses how companies can mitigate risk while improving relations with their partners by implementing a successful contract risk and compliance program.
Listen to the podcast on our US website