Prevention of Counterfeit Risks with Approved IP Protection Solutions
Risk management has become one of the essentials for an enterprise engaged in product manufacturing. With widespread incidents of fraud and malpractices no business is safe.
Published on: Mar 4, 2016
Transcripts - Prevention of Counterfeit Risks with Approved IP Protection Solutions
Prevention of Counterfeit Risks with Approved IP ProtectionSolutions Risk management has become one of the essentials for an enterprise engaged in product manufacturing. With widespread incidents of fraud and malpracticesno business is safe. With the increasing competition the dependency on technology isincreasing, and so are the risks. Sales channel security is a common issue but if correctprotection measures are not taken businesses can suffer fiscal losses.The internet has become a favorite haunt for criminal activities. The tech-savvy fraudulentcompanies know how to take advantage of technology and use it for their gain. When theproducts are sold by these fraudulent companies are used by the customers they cause a lack ofconfidence in the genuine enterprises.The fake products that are sold at cheap prices in bulk quantities are a hit with the customers,hurting the genuine businesses reputation while the counterfeiters enjoy the profits. Furtherwhen these products fail it is the genuine companies that are blamed for manufacturing thesecheap quality goods. All this does not affect the counterfeiting as they continue theiroperations till some mishap occur, and then they disappear without a trace.These counterfeit businesses have so far been elusive and difficult to track down. Nowenterprise risk management and fraud detection software is available that has the ability to findthese illegal operations online. It has intuitive capabilities to track all online activities and singleout the fraudulent companies by monitoring their sale prices, the discounts they are offeringand the quantities they are selling. It provides real-time monitoring facilities that assist thebusiness in being informed about the latest developments.The enterprise risk management solutions demonstrate their worth by detecting the illegalactivities of the counterfeiters. New Momentum has provided these services to a number ofproduct manufactures. The IP protection methodologies have proven successful in a number ofinstance of counterfeit / gray market sales. The solutions have not only rewarded thebusinesses with enhanced revenues but also managed to reduce the number of illegal productlistings.Know more about: online fraud detection and Anti-Counterfeiting