Private investigators are one of the fastest-growing fields. It is estimated that the number of investigators will grow by 6 percent between 2021 and 2031.
Their service charges further shed light on how valuable they are to the business community. A private investigator in Australia will cost you $100/hour for basic searches, whereas the rate increases to $125/hour in the US. This is about $400 to $625 per session!
Well, we can see that their demand and value are rising incredibly – especially in the business sector. But why are private investigators so important? What makes them an irreplaceable asset for a business?
Let’s explore the answers below!
Mergers and Business Acquisitions
Large companies often engage in the process of merging and business acquisition. Both of these aim to take over the target business. The only difference is that merger results in a new brand identity, while an acquisition results in the integration of the target into the parent company.
If you aim to do any of these in the future, a private investigator will be mandatory to perform Due Diligence investigation. It helps find the target company’s management details, financial status, history, legality, and much more.
Dispute Resolution
It is common for shareholders and partners to get involved in disputes. They might disagree with the internal members of the company or the external parties. In any case, a private investigator can help you conclude.
He will conduct investigations to collect evidence, facts, and the truth. Since this will give an unbiased result, the disputes will be resolved easily and peacefully.
Loss Prevention
Be it inventory or data – any kind of loss is disastrous for a business. It’s why special measures are taken to prevent it as much as possible. A private investigator can assist you with this too!
For example, if there has been inventory shrinkage or employee theft, the detective can investigate and unravel the source efficiently. He can also find issues in the store security and help reinforce them.
Background Checks
Background checks verify the identity and authenticity of both companies and individuals. So, if you’re recruiting new employees or collaborating with new suppliers, background checks will be mandatory.
Having a private investigator on your team will help save the trouble and effort involved in investigating yourself or hiring someone else. You can just assign the task to PI and streamline the process for efficiency.
Attorney Referrals
Lawsuits and legal documentations are unavoidable in business. You will have to deal with attorneys every now and then. But finding the right attorney for your company isn’t easy.
They might have poor experience or little knowledge about your company. Sometimes, fake lawyers even scam small and medium-sized businesses. In these cases, a private investigator is a useful resource.
He will connect you with skilled and trusted attorneys in the industry. You can also rely on them to perform related legal investigations.
Other than this, a private investigator can help with all types of research and security tasks. This includes insurance investigations, investment queries, bug sweep tests, and custody cases.
