CreditRiskMonitor Launches New Financial Statement Sourcing Service for Private Companies
Valley Cottage, N.Y. – April 11, 2018 – CreditRiskMonitor (OTCQX: CRMZ) has debuted its new Financial Statement Sourcing service, giving credit and supply chain professionals the ability to quickly and accurately track and analyze the financial performance of private companies.
“Our clients tell us that dealing with private company risk is a major challenge,” said Jerry Flum, CEO of CreditRiskMonitor. “Data gathering and making sense of non-standardized financial statements is a time-consuming process filled with potential errors.
"We take a huge weight off our subscriber’s shoulders by sourcing and standardizing their private company financial statements and providing detailed, confidential reporting and analysis with our FRISK® score that can be used to mitigate huge risks,” he added.
CreditRiskMonitor’s 96% accurate FRISK® score incorporates a number of critical risk indicators including crowdsourced click patterns of credit professionals and other highly influential subscribers who make up more than 35% of Fortune 1000 business leaders, plus thousands more at large corporations worldwide. The score is formulated to assess bankruptcy risk in public companies within a 12-month window.
CreditRiskMonitor’s Financial Statement Sourcing service offers its clients flexible options to meet their needs in the collection, data entry and standardization of a private company’s financial statements. Its service stands apart from other competitors due to its low pricing, high accuracy and prompt turnaround time.
CreditRiskMonitor is a web-based publisher of financial information that helps corporate credit and procurement professionals stay ahead of business financial risk quickly, accurately and cost effectively. The service offers comprehensive commercial credit reports and financial risk analysis covering public companies worldwide. Unlike other commercial credit bureaus like Dun & Bradstreet, CreditRiskMonitor’s primary expertise and focus is on financial analysis of public debt and equity companies.
The Company also collects more than $130 billion of trade receivable data on both public and a select group of private companies every month, to help subscribers determine payment performance.
Over 35% of the Fortune 1000 depend on CreditRiskMonitor's timely news alerts and reports featuring detailed analyses of financial statements, ratio analysis and trend reports, peer analyses, bond agency ratings, as well as the company's proprietary FRISK® and PAYCE™ scores.