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Trusted by 40% of Fortune 1000
VALLEY COTTAGE, NY – CreditRiskMonitor® (OTCQX:CRMZ) is announcing the launch of SupplyChainMonitor™, a brand-new sister platform serving the company’s rapidly expanding clientele working in procurement, at the Institute for Supply Management’s ISM World 2022 event on May 23.
Mike Flum, President & COO, said, “With close to 250 large corporations from all over the world already using CreditRiskMonitor for procurement and supply chain risk management, we know there is demand for services that tackle financial risk assessment and ongoing monitoring of suppliers. About three years ago, we started developing SupplyChainMonitor™, with the needs of the procurement use case and our core strategy of delivering services whose utility dramatically exceeds their price as our guiding principles. Over our 22 years of operations, this strategy has produced thousands of CreditRiskMonitor corporate clients worldwide.”
Mr. Flum continued to say, “When we began the journey, we had no idea that the events of the past two years were going to unfold as they have. Between the supply shocks caused by the pandemic, the Russia-Ukraine war, mounting inflation, and the renewed focus on redundant, resilient, near-shoring of supply, the need for a service like SupplyChainMonitor™ has never been greater. We know that platform and its underlying data can dramatically assist in managing procurement risk and we are excited to announce its formal launch at ISM World.”
Prospective clients can request a demonstration of the service by going to supplychainmonitor.com. Early adopter discount incentives are available for the first 25 subscribers.
Overview
CreditRiskMonitor.com, Inc. (creditriskmonitor.com) sells a suite of web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. Our primary SaaS subscription products for analyzing commercial financial risk are CreditRiskMonitor® and SupplyChainMonitor™. These products help corporate credit and procurement professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively. Our subscribers include nearly 40% of the Fortune 1000 and well over a thousand other large corporations worldwide.
To help subscribers prioritize and monitor counterparty financial risk, our SaaS platforms offer the proprietary FRISK® and PAYCE® Scores as well as the FAST Rating, the well-known Altman Z”-Score, agency ratings from key Nationally Recognized Statistical Rating Organizations (“NRSROs”), curated news, and detailed financial spreads & ratios. Our FRISK® and PAYCE® Scores are financial distress classification models that measure a business’s probability of bankruptcy within a year. The FRISK® score also includes a risk signal based on the aggregate research behaviors of our subscribers, who control counterparty access to trade credit at some of the most sophisticated companies in the world. The inclusion of this risk signal boosts the overall accuracy of this bankruptcy analytic by lowering the false positive rate for the riskiest corporations.
Through its Trade Contributor Program, the Company receives monthly confidential accounts receivables data from hundreds of subscribers and non-subscribers, which it parses, processes, aggregates, and reports to summarize the invoice payment behavior of B2B counterparties without disclosing the specific contributors of this information. The size of the Trade Contributor Program’s current annualized trade credit transaction data is approximately $3 trillion.
Safe Harbor Statement
Certain statements in this press release, including statements prefaced by the words “anticipates”, “estimates”, “believes”, “expects” or words of similar meaning, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include details of the accounting restatement, the expected impact of the accounting restatement and the remediation of the related material weakness in internal control over financial reporting. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, those risks, uncertainties and factors referenced from time to time as “risk factors” or otherwise in the Company’s Registration Statements or Securities and Exchange Commission Reports. There can be no assurance that (i) the consequences of the Company’s restated results will be as anticipated above and (ii) the Company will be able to promptly and efficiently implement the appropriate remediation steps into its financial reporting. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
Contact
CreditRiskMonitor.com, Inc.
Mike Flum, Chief Executive Officer
(845) 230-3037
ir@creditriskmonitor.com
