Financial Statement Sourcing: Getting More For Less
Whether your business is buying from or selling to a private company, monitoring the financial health of your counterparties is important. Risk professionals need to manage and protect against business financial risk on a regular basis. Yet this task must be performed in both an effective and efficient manner: failing to do so could materially impact your own company.
One of the biggest recurring challenges that company risk departments have to deal with is crunching private company financial statement numbers. Most companies request and evaluate financials only when the relationship is critical, because obtaining and working with these statements isn’t easy. But most need to do it with a significant number of private firms. In nearly all cases, the private company reporting they receive is not standardized and often requires careful evaluation and analysis to provide a consistent and accurate result. This exercise is usually time-consuming and can often be challenging. CreditRiskMonitor's Financial Statement Sourcing is the best solution to help you work through this process.
Financial Statement Sourcing is CreditRiskMonitor’s new service that offers companies flexible options to help ease the collection, data entry and standardization of a private company’s financial statements. We deliver highly accurate risk analytics and provide monitoring of companies in your portfolio. We also offer tools to more easily compare private company risk. Financial Statement Sourcing will allow you to spend more of your time assessing and managing risks, rather than working through the mechanics of data preparation and analysis. What's more, right now, we are offering a free private company report to help with your assessment.
Our products compete with other high-profile companies in the commercial credit reporting arena. The advantages of CreditRiskMonitor's Financial Statement Sourcing include:
- Low pricing: the service cost is among the most affordable in the industry
- High accuracy: using both financial and payment data
- Excellent timing: turnaround from submission to final delivery is prompt
At CreditRiskMonitor, we know that combining multiple types of information in an analysis enables better insights. We provide different methods, including but not limited to: the Altman Z'' score, peer and trend analysis, as well as our proprietary FRISK® score. Plus, we collect payment experiences, public records and other information. Payment behavioral data is a particularly valuable resource, proven to be highly predictive of financial risk for private companies.
For both credit and procurement professionals, identifying financial distress and bankruptcy risk in the key private companies you work with is essential. It will provide you with a much needed edge in today’s business environment. For example, a worst-case scenario might involve the unexpected failure of one of your largest customers, or perhaps a strategic supplier. This new service will help you stay ahead of that risk. These financial statements can either be processed by CreditRiskMonitor or by you through our platform for a reduced fee.
CreditRiskMonitor is a financial news and analysis service designed to help professionals stay ahead of public company risk quickly, accurately and cost-effectively. More than 35% of the Fortune 1000, plus thousands more worldwide, rely on our commercial credit reporting and predictive risk analytics for assessing the financial stability of more than 56,000 global public companies.
At the core of CreditRiskMonitor’s service is its 96%-accurate FRISK® score, which is formulated to predict public company bankruptcy risk. One of four key components calculated in the FRISK® score is crowdsourced subscriber activity. This unique system tracks subscribers' patterns of research activity, capturing and aggregating the real-time concerns of what are essentially the key gatekeepers of corporate credit. Other features of CreditRiskMonitor’s service include timely news alerts, the Altman Z”-Score, agency ratings, financial ratios and trends. CreditRiskMonitor’s network of trade contributors provides more than $150 billion in trade data on their counterparties every month, giving them visibility into their biggest dollar risks.