Removing Illegal Entrants with Disciplinary Action
Every business dreads brand erosion. A tainted reputation can destroy your business and uproot your existence in the market. The growth of the counterfeiting industry has affected genuine businesses, in both consumer confidence and bottom line. The surprising fact is that law enforcing regulations and knowledge about the repercussions this have hardly acted as a deterrent for the counterfeiters. Now it is up to the enterprise to safeguard their product line and be extra vigilant. The theft of trademarks, copyrights, patents, etc., is an indication of for the types of issues dealt with by the pharmaceutical companies. The rampant selling of fake drugs, endangering innocent lives, has become common and frustrating for the genuine manufacturers whose reputations are at stake.
Cheap and sub-standard luxury items and hi-tech products are freely distributed in the market with phenomenal profit margins for the counterfeiters. On the other hand, the genuine companies experience extensive revenue losses. The skyrocketing sales volumes of these counterfeit products speak a lot about the power of the counterfeit industry. Industries need to take initiatives and employ enterprise risk management solutions that can help you mitigate the fraudulent operations.
To secure your enterprise against all unwarranted threats you need solutions with untiring capacities to track, monitor and control all illegitimate activities. The solution should have the facility to provide you with real-time information so that you are aware of the current settings and can employ corrective measures without losing time. It should have the qualities to identify the illegal sources by tracking online discounts, prices and quantities sold in the market. Once you are able to identify the sources, the solutions should also provide you with effective enforcement measures to stop their operations.
New Momentum’s solutions are able to assist in addressing these issues. Businesses have experienced a reverse trend in their depleting profits with these cost-saving anti counterfeiting solutions. A business can only make progress when firm and effective solutions are deployed to stop the brand counterfeiting activities.
Know more about : Counterfeiting and online fraud detection