Key Takeaways From June 3 Webinar, Your Client, Your Reputation: Protecting Your Company's Value.

Consulting Magazine recently partnered with Intapp to present a webinar examining client risk. Specifically, the reputational risk of taking on clients with misaligned interests. Never before has consideration of the client's business model, reputation, history and culture factored as such an integral part of the equation. Not assessing potential conflicts of interest or values in a client can have a long-term impact on your business.

What was learned during the discussion? Here is a brief recap of five key takeaways from the discussion:

• While firm size does impact how firms will (should) address client risk, every firm needs a client risk strategy
• While a variety of potential approaches to client risk were discussed, based on the experience of the panel participants, the common thread running through them all was the need for a well-defined client risk strategy, complete with contingency planning Effective client risk strategies include business culture, process, communication and technology elements
• Client risk and risk in general, cannot be treated like a checklist item that is investigated once and then forgotten; particularly in today's volatile markets, client risk requires continuous monitoring of client circumstances (e.g., restructuring, changing client vendor/third party relationships etc.) which is where the discussion ventured into the game-changing impact of data analytics and AI.
• Client risk is one strand in a web of risks, and any strategy requires an understanding of the interconnectivity and interplay of all those risks

Thanks for this valuable discussion go to our esteemed panelists: