Latest product innovation raises the bar on financial health transparency between business partners
NEW YORK — RapidRatings, the leader in financial health analytics, has launched the FHR Network, a membership network that establishes a new standard for financial health transparency between business partners. The FHR Network is the second major product innovation to be announced this year following the release of HealthMark™ in April 2019.
The FHR Network allows clients and their suppliers, third parties, and vendors to share their financial health rating confidentially and securely, thus helping clients unlock risk insights across their entire business ecosystem. By joining the network, clients can easily maximize the coverage and breadth of their risk management efforts while simultaneously reducing program costs. Suppliers that opt in are empowered to win new business and protect their own brand.
“In order to build resilient supply chains in an increasingly complex business environment, it is critical for companies doing business together to develop strong relationships,” said Douglas Cameron, President and Co-Head of Product at RapidRatings. “Financial health transparency is key to understanding the relative strengths of strategic partners and to assessing supply chain risks. The FHR Network provides clients and suppliers with a basis for building more trust.”
This latest product innovation was unveiled at RapidRatings’ second annual Client Summit. “RapidRatings’ Client Summit provided an opportunity to learn and share best practices for building sophisticated risk management programs,” said Nitin K. Walia, Chief Client Officer. “Our client community brings incredible insights on how to achieve greater supply risk program ROI and mitigate the impact of lower-performing suppliers. Client Summit empowers companies to enhance their enterprise and financial risk management capabilities to meet current and to anticipate future challenges.”
The RapidRatings Client Summit was held on May 20-21, 2019 at the W Hotel in Hoboken, New Jersey. For more information about FHR Network, please visit our website.
RapidRatings® is transforming the way the world’s leading companies manage enterprise and financial risk. RapidRatings provides the most sophisticated analysis of the financial health of public and private companies in the world. The company’s analytics system provides predictive insights into third-party partners, suppliers, vendors, customers and securities issuers. Business relationships informed by the RapidRatings Financial Health System™ are more productive, transparent and rewarding. For more information, visit www.rapidratings.com.