CreditRiskMonitor API Solutions Improve Credit and Finance Workflows

Synergy saves.

In 2022, end users are leveraging CreditRiskMonitor®’s API to improve workflow efficiency, and communicate reliable, reputable data across their entire teams. Our RESTful API is platform agnostic, i.e. compatible with SAP, Oracle, HighRadius, or your own homegrown software, and can respond directly with XML and JSON format. What’s more, real-time bankruptcy prediction scores are made readily available, as well as other powerful data points. These are must-have solutions for corporate credit, treasury and finance departments. This scalable data provides automation for company evaluations to improve credit reviews, cash collections, and minimize receivable write-downs. 

To sum, CreditRiskMonitor’s API assimilates our data directly into your workflows to remove hassle and save your team time and effort.

CreditRiskMonitor is a B2B financial risk analysis platform designed for credit, supply chain, and other risk managers. Our service empowers clients with industry-leading, proprietary bankruptcy models including our 96%-accurate FRISK® score for public companies and 80+%-accurate PAYCE® score for private companies, and the underlying data required for efficient, effective financial risk decision-making. Thousands of corporations worldwide – including nearly 40% of the Fortune 1000 – rely on our expertise to help them stay ahead of financial risk quickly, accurately, and cost-effectively.

Enhancing Your Current Process

Many software platforms lack the horsepower to drive complete, accurate data to a credit or finance manager, as customers often end up relying on internal data or, worse, blending in subpar scoring from other credit providers. 

Instead, it is best practice to have reliable information in one dashboard for more effective and efficient workflows. A more straightforward pull from CreditRiskMonitor® gets you there, with your company saving thousands of work hours in the process. 

CreditRiskMonitor®’s API solution offers a variety of high-quality data points, including:

  • The FRISK® score on hundreds of thousands of public and private companies worldwide, covering an estimated $91.4 trillion in corporate revenue compared to estimated global GDP of $89.4 trillion
  • About 30 million business reports, including companies with PAYCE® scores, bond agency ratings, and financial statements
  • Customizable company portfolios, real-time news alerts, and trade payments, parent-subsidiary hierarchies, detailed financial analysis, and management, discussion, and analysis (MD&As), among other information

Credit and financial professionals utilize this information in their daily workflows to pull data as needed, obtain real-time data points, and ultimately make better business decisions. The API helps credit and finance professionals with their analysis and risk management processes – you can learn more about our solution here.

One of the most powerful features of API integration is getting the FRISK® score embedded in the workflows that matter most. Subscribers use the 96%-accurate, daily-updated FRISK® score as their first line of defense to inform about a company’s increasing bankruptcy risk. The same is also true for the 70%-accurate PAYCE® score on private companies. With both scores in hand via API, subscribers quickly and easily identify tasks tied to high-risk counterparties and prioritize their workflow to optimally reduce dollars-at-risk.

As a particular use case, a subscriber can receive a real-time look at their company portfolio of FRISK® scores and financial statement information (e.g. cash burn rates, liquidity, and debt servicing metrics) alongside credit limits and outstanding accounts receivables in their data dashboard. This view allows a user to promptly run a report, inform team members, engage with counterparties, and adjust credit terms. For example, if a large customer account is in the highest-risk FRISK® score of “1” and rapidly burning liquidity, the subscriber will want to act immediately. 

Planning for the Future

APIs were particularly helpful during the COVID-19 Credit Crisis as companies were falling like dominos. Subscribers were able to view FRISK® score downgrades in real-time to identify bankruptcy risk well before companies reported their financial results. In fact, thousands of companies worldwide were downgraded into the red zone several months in advance of Altman Z’’-Scores showing any meaningful deterioration. Trade payment behavior showed little to no change whatsoever. Risk professionals that used financial statements or payment trends were left in the dark at a time when bankruptcies involved poor recoveries. 

Many companies that survived the downturn had to issue debt that still lingers on balance sheets. Not only are there record levels of corporate debt worldwide, but there has also been a massive proliferation of zombie companies, i.e. entities that cannot service their interest payments, and the count of companies in this grouping will only shoot upward as interest rates rise globally. Moreover, there are also clear signs of spiraling economic warfare that could soon result in another downturn. API integrations will once again help subscribers stay ahead of the curve by pinpointing the highest risk counterparties in real-time which will allow for adjusting exposures before bankruptcy.

If you have not already brought CreditRiskMonitor®’s API solution into your workflow process, you can learn more about it on this home page, which contains documentation, examples, and the ability to request developer access. 

Bottom Line

Risk professionals like yourself are preparing for another economic downturn and our API will enhance your workflows. More and more subscribers are currently integrating our API solution for customized data to improve their processes. Bankruptcy prediction scores such as the FRISK®, along with financial statement data rank among the top features that help subscribers make better risk decisions. If your team has any questions about how to integrate our API or available datasets, please contact us or give us a call at 845-230-3000.

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