Financial Health and Third-Party Transparency Take Center Stage at FHR Summit
June 22, 2018
New York, NY – June 22, 2018: RapidRatings, the leader in financial health analytics, hosted its first FHR® Summit, a client-exclusive event, bringing together dozens of leading organizations leveraging the award-winning Financial Health System to gain greater visibility and control over vendor, supplier and counterparty risk. The FHR Summit, held May 21-23, 2018 in Hoboken, New Jersey, is part of RapidRatings’ commitment to helping companies attain better business outcomes through innovative solutions and exceptional client support. The two-day event combined presentations, client case studies, panel discussions, and networking opportunities.
The inaugural event provided an opportunity for RapidRatings’ clients from around the globe to collaborate with peers and RapidRatings executives and staff to share best practices, discuss trends and challenges, and exchange actionable strategies current risk management initiatives. A major theme for many clients was the emphasis on making risk management a strategic initiative. Other key themes include:
- Ongoing efforts to expanding transparency and visibility of risk management initiatives, enterprise wide
- Making financial health strategic by establishing cross-functional relationships across the business partners and stakeholders
- Transparency as a prerequisite for establishing meaningful business relationships
- Financial Health as a KRI of risks in other control areas, i.e. delivery, quality, business continuity, operational resilience
- Common characteristic of successful programs: including broad buy-in from key internal sponsors, stakeholders, and the supplier networks
The FHR Summit also showcased product development efforts and featured an interactive solution showcase where RapidRatings product managers engaged with clients to demo new enhancements and preview large-scale projects on the horizon. The solution showcase gave clients the opportunity to weigh in on the development of these initiatives by providing feedback on desired functionality, in addition to the Financial Health System’s existing suite of products and services.
“This event offers RapidRatings the opportunity to engage with clients and learn about their real-world challenges and successes. Client feedback helps us direct the evolution of our solutions to meet their needs today and in the future,” said Nitin K. Walia, Chief Client Officer. “We’re delighted by the degree of partnership and collaboration among our clients, further solidifying the foundation for building a community of relationships founded on new standards of transparency.”
About Rapid Ratings
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. Every business conversation becomes more productive, transparent and efficient with the RapidRatings Financial Health System.