The Evolution of Bishops and our Industry
February 25, 2019
The due diligence industry was a lot different when Bishops was founded back in 1898. As the oldest privately held investigation and due diligence firm in the United States you could say that we have seen it all. This level of experience brings with it a lot of insights into how the industry has evolved and allows us to plan for how it will continue to do so.
As our industry has changed, we have worked tirelessly to stay on top of trends that have shaped the due diligence landscape. By doing so we know that we are better able to serve our clients and provide them with most effective and efficient investigations possible.
Here are a few of the trends that our industry is currently experiencing and how we are incorporating them within our business model.
In the early days of the due diligence industry, before transactions became so complex, it made more sense to have a standardized scope of work and apply it across a range of industries and companies. The use of templated approaches was commonplace because access to unique data points and information was limited.
However, those days are gone. Solutions that are “one-size-fits-all” are no longer relevant in the space because investigative needs vary from client to client. In today’s environment service providers need to offer the flexibility to customize investigative efforts to meet each client’s needs.
One of the ways that we address this is how we build out our team. By design, our management team and senior investigative professionals come from a wide-range of backgrounds, including government intelligence, law, investigative journalism, research and private investigative practices. This structured diversity fosters a broad approach to planning and strategy on investigative engagements and the business model as a whole.
The business world is now more interconnected than ever. Sole-proprietors can now run global business ventures from their laptop. This makes it extremely important to understand the cultural differences and business practices that are acceptable from country to country.
We have established resources across the globe in more than 190 countries and territories. This gives us the ability to serve our clients while staying within compliance and regulatory boundaries.
In 2008, Bishops joined the Sterling group of companies. This move allowed us to tap into industry leading technology capabilities. In 2019, we look forward to unveiling a further enhanced technology platform that will provide full life-cycle due diligence assistance through a robust, comprehensive and scalable cloud solution.
Those aren’t the only trends that our team is building our business around. But, they are certainly a key part of our company’s on-going evolution.