When it comes to running a business, there is always some level of risk. But there is a difference between smart, calculated risk-taking and unintentional risks that can sink your company.
Do you know which side of the risk equation you’re on?
GETTING AHEAD OF RISK CAN BE THE DIFFERENCE BETWEEN HEALTHY GROWTH AND FAILURE
Effective risk management begins with identifying risks you may not even realize are there, then mitigating them by both reducing the chance that they will occur and preparing for their potential impact.
Risk management doesn’t mean letting your business be hamstrung by caution or miring your employees in red tape. What it means is being proactive rather than reactive and strengthening your business against potential disruptions.
The Rialto Group specializes in identifying and managing risk for companies of all sizes, and we can help you prepare your business for whatever may come it's way.
Most companies are so busy handling day-to-day operations and focusing on the positive aspects and possibilities of growth.
What that means is that they don’t think about the overall risk profile of the company, and don’t consider how each decision will affect that risk. Risk management is one of the many roles we take on as part of our Business Advisory services for our clients, and we can help you build risk management into your long-term plan for growth.
Our financial modeling and strategy experience comes from years of public accounting and corporate experience, and we bring that specialized knowledge to bear on your business, whatever the size.
For example, many smaller and midsize companies don’t bother to look closely at their insurance policies – they don’t know their coverages, and they largely rely on brokers to figure out what they need.
But brokers don’t know the ins and outs of your company – their job is to sell – and they don’t always take the time to properly measure and analyze your risks.
Another example: hiring and termination policies can carry the risk of litigation for wrongful termination or worse.
Or consider the decision to rely heavily on one vendor – what kind of risk will you face if they face a disruption or go out of business altogether?
The Rialto Group can’t eliminate all your risk, but we can make sure you are prepared when risks become reality.
A lot of people are suddenly aware of the types of risks for which Rialto Group has been preparing their business clients for years.
Catastrophic weather events, pandemics, lots of employees unable to come into work – these can cause massive disruptions that ripple through your operation.
We have seen supply chain disruptions, key suppliers or manufacturers going out of business, materials shortages – all of these have had serious effects on every type of business.
And there are smaller risks, too: What if one of your biggest customers were to leave you, or a key player in your organization were to take leave or suddenly quit?
Rialto Group comes in and assesses your business from top to bottom, then we ask: What could disrupt and really hurt the business, and how likely is this to happen?
The value we provide lies in calculating the real-life cost of these events for your business and figuring out solutions to reduce your exposure and lessen losses.
Finance/Accounting Disruptions: Understanding best practices in accounting, bank reporting requirements, how to forecast and manage cash, how to account for and document certain transactions, what to do when customers don’t pay – not knowing and having processes in place for these things presents substantial risks for companies. Even things like not having enough finance and accounting staff to close the books can pose a threat and cost your company serious money. As financial experts, Rialto Group is very well equipped to prepare you for these risks.
HR Issues: Everything from ensuring best practices are followed during interviews and termination to making sure you’re withholding the right taxes and remitting 401K payments on time can have a big impact on your HR risk profile. Protect yourself against litigation, fines, reputational damage, or dissatisfied employees by having Rialto advise you on your HR risks and help you manage them.
Operations Risks: We look at your operational risks from a financial perspective to figure out the real costs and likelihood of operational disruptions. A hiccup or a seismic issue with the supply chain, a major client leaving you or going out of business – do you have a contingency plan in place for these? Rialto Group assesses your whole company holistically to see all the risks that may be lying in wait.
IT and Cybersecurity Threats: Figuring out how vulnerable you are to ransomware, how much it would cost to remedy vulnerabilities, and how much insurance you might need against it are just some of the IT risks we assess and advise companies on.
You cannot completely eliminate risk, and overreacting to unlikely threats can be just as harmful as ignoring them.
Our risk management solutions may be as simple as recommending insurance coverage, or it may involve best practices like having two HR reps in the room during a firing, or providing the separation notice the ex-employee will need for unemployment.
Often, it’s the little things that make a difference, and our risk management experts understand that.
Rialto Group provides sound analysis and realistic risk management solutions based on our long experience in business and our understanding of your strengths, vulnerabilities, and goals.
We will help you fill in the gaps in your understanding of risk and come up with a risk management plan that makes sense for you.
Our advisory team can also help you implement new risk management processes and plans on the ground, to ensure smart risk levels are maintained throughout your organization.
Risk management does not mean you can’t take risks or be aggressive and grow as a company. It’s about evaluating the risk a decision brings and determining whether that’s an acceptable level of risk to take.
The Rialto Group understands that, and we make sure you do, too.
The key to responding proactively to potential threats lies in asking the right questions.
Rialto Group are finance and accounting professionals, so we know the issues well.
We know what questions to ask within your organization, how to talk to key decision-makers to discover risk at different levels, and how to properly respond to the threats we identify within your company and without.
We know what to do because we have helped a lot of companies manage their risk and steel their organization against however the winds of change may blow.
Our experience with a wide range of companies large and small, across various industries, gives us a broad view of what can go wrong and an understanding of how different companies do things, both for better and worse.
The principals at Rialto Group have worked at all levels in finance and accounting, and we have Big Four experience we can bring to bear on mitigating your risks.
Our upper management bona fides include CFO and controller roles, so we understand the importance of making risk a priority at the highest levels.
A real-life example of this kind of big-picture thinking: One of the solutions we have implemented for clients in the past has been to set up an internal risk management committee, where a mix of different department personnel meet quarterly to identify and discuss specific risks.
The committee would come up with recommendations and plans of action, then produce a document for the C-suite outlining potential threats and suggestions for handling them proactively.
It is a simple process, but it keeps risk management top of mind and ensures decisions are made with risk factored into the equation.
That’s the sort of top-to-bottom, comprehensive risk management solution you get when you hire Rialto Group, and it’s just one of many business advisory roles at which we excel.
SMART RISK MANAGEMENT ADVISORY
OUR FOUR STEP PROCESS
IDENTIFY YOUR RISKS
ASSESS THE SEVERITY OF THEIR IMPACT
DEVELOP A PLAN FOR RISK MANAGEMENT
IMPLEMENT THAT PLAN
Of course, risk changes constantly, evolving with every bit of growth and every new decision your company makes.
That is why Rialto Group will continue to assess the risks to your business on an ongoing basis and provide continual improvement to reduce the threat risks pose.
Risk management should be an ongoing process and it needs to be part of the decision-making process at every level. Some billing themselves as risk consultants will come in and provide a one-time risk assessment, then prepare a report and consider their duty done.
Rialto Group doesn’t do that – although we can come on to advise you ahead of a special project or big event, we normally provide our clients with continuing support.
Our business advisory specialists go above and beyond, acting as your partner in identifying and responding to risk. Rialto Group partners with your management team to provide high-level advisement you can rely on.
We will be there as your go-to advisor before any big decisions, and we can help you create company-wide processes to minimize risk and control the costs associated with disruptions, unforeseeable events and compliance problems.
The benefit of having The Rialto Group at your service is that you won’t outgrow our roster of services.
We offer tremendous value for startups that may struggle with accounting, finance and accounting, capital raising, HR, or IT functions as they evolve because we have years of experience managing successful mid-size and larger operations.
- Schedule your complimentary discovery call.
- Receive a written proposal within two business days.
- Review your intake form with your dedicated team member.
BUSINESS ADVISORY
SERVICES TO HELP YOU
STRATEGY AND OPERATIONS
Helping you meet concrete objectives for both the near and long term. We can develop models and plans that help you grow your revenue, trim costs, increase production, expand operations, streamline finance and accounting functions or help you achieve other custom goals. The Rialto Group also specializes in Cash Management/AR Strategies and Technology Strategy and implementation.
BUSINESS PROCESS DESIGN
Streamlining processes and eliminating inefficiencies is key to your company’s successful operation. Rialto can come in an analyze your existing processes, map out improvements and implement them on the ground. The process work we do for clients is an excellent example of how The Rialto Group becomes a partner in implementation and not just an outside advisor.
FINANCIAL STRATEGY
From budgeting and forecasting to smart financial models for your next several years of growth, The Rialto Group can help you visualize your company’s future. Our advisors can help you make strategic decisions on growing the business, set pricing to stay competitive, and assess valuations and asset and business acquisitions.
CAPITAL MARKETS
As your business grows and opportunities appear on the horizon, you may need to raise new capital or navigate a merger, sale or acquisition. What you also need is a trusted partner who can provide a clear view of risk, someone who can assess the fundamentals and advise you on all your options. The Rialto Group can be that partner and walk you through every step of the process.
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