As the COVID-19 pandemic continues to dissipate, it’s important for construction companies to implement a proactive and aggressive approach to managing their risk. To protect their overall well-being, business owners must consider whether the vendors and subcontractors they’re working with are able to maintain their position financially, especially as projects and workloads ramp up.
Said simply, the value of any business is the present value of its expected cash flows. In order to convert these estimated cash flows to present value, they must be discounted using a required rate of return. The discount rate used should be commensurate with the risk of achieving these expected cash flows.
Cybercrime is a fast-growing threat to U.S. companies, with data breaches, phishing scams, ransomware and malware all now part of the corporate security vernacular. The COVID-19 pandemic has only made matters worse, causing more security threats now that more people are working from home on less secure networks. Security is not just an IT concern; it is an organization-wide risk with far reaching implications that also affects the operational and financial aspects of companies as a whole.
Bennett Thrasher Technology Services, a premier provider of managed IT services, is proud to share that it is now providing all clients with next-generation, multi-layered endpoint protection and access to a 24/7 security operations team.