When a company offers an incident reporting system, it empowers employees to report fraud, theft, embezzlement, and unethical behavior. Every year, a typical organization loses 5% of annual revenues to fraud. Add in the potential for other workplace misconduct and companies are also at risk for a reputation and financial hit.
The good news is that employee tipoffs are the most common way to detect fraud. Implementing an incident management platform gives employees a safe and secure place to report misconduct without fear of retaliation, and that can save you money, time, and your reputation.
Business misconduct is costly. In 2017, 37% of all embezzlement cases resulted in a loss of over $500,000 and 23% showed losses greater than $1 million.
Solving the problem can come with a price tag. In 46% of companies investigating fraud, the cleanup process was more expensive than the incident.
With 53% of employees citing fear of workplace retaliation as the reason for not reporting harassment, optional anonymous reporting gives them a voice.
With nearly 30 years of combined legal and forensic accounting experience in whistleblowing and misconduct related investigations, Juliette Gust and Tricia Fratto realized a management system that is simple and affordable enough for any business to implement and maintain is needed for every organization. Using their combined experience, they created Ethics Suite to give businesses the tools needed to put their company and employees first. Are you ready to invest in your company’s future?request a demo