From the Wires
Business Fraud Is Skyrocketing -- Huffington Post Examines National Trend With Experts From Argos Risk and AssetHR
AssetHR Escapes Financial Disaster Due to Argos Risk's Credit Monitoring Alerts
By: Marketwire .
Jan. 8, 2013 03:03 AM
MINNEAPOLIS, MN -- (Marketwire) -- 01/08/13 -- Business risk and fraud is running rampant in the United States, with small to medium-sized businesses among the most targeted and hardest hit. Argos Risk (www.argosrisk.com) is featured in a video case study about its customer, AssetHR, on HuffingtonPost.com, one of the world's most visited online news sites.
Steve Foster, CEO and founder of Argos Risk, said, "There are several reasons that criminals target small to medium-sized businesses. Typically they lack the internal resources to interpret complex financial data and reports provided by the traditional credit reporting services. They also lack resources to monitor and protect themselves against business identity theft, which is one of the fastest growing cybercrimes in the United States."
The Huffington Post features the story of AssetHR, a human resources outsourcing and consulting company, who averted financial disaster by using the services of Argos Risk. Argos Risk, a leading provider of business credit risk solutions, alerted AssetHR that their cash management vendor had a plummeting credit score, indicating that the vendor was in financial decline. By having the heads-up that the vendor was in trouble, AssetHR was able to be proactive with the relationship and ward off any losses from the pending announcement that the vendor was embezzling money. The impact on AssetHR's clients would have been disastrous but they were able to sever ties with the vendor and protect their clientele from enormous exposure.
Argos Risk Online (ARO) helps companies see the early warning signs of their risk associated with critical business relationships. ARO provides comprehensive, 24x7 monitoring that alerts clients when risks are identified so they can act quickly. ARO is delivered through an affordable Internet-based subscription model, which is designed to interpret complex financial data, score credit risk information, evaluate it, and apply it to the client's actual business scenario, displayed in an easy to understand business dashboard.
"Thanks to Argos Risk Online, AssetHR was alerted to fraudulent activity by one of our vendors," said Chris Kelly, CEO of AssetHR. "Without this alert, our clients would have been compromised by payroll, state and federal taxes not being paid and the fallout from that. Having a credit risk monitoring solution like Argos Risk saved us and allowed us to act quickly to avert disaster."
About Argos Risk
Argos Risk is a registered trademark of Argos Risk. "The Huffington Post" is a registered trademark of TheHuffingtonPost.com, Inc. All other trademarked names are the property of their respective owners.
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