RapidRatings Expands & Enhances The FHR Network®; Invites Private Suppliers to Grow Their Businesses and Support Supply Chain Resiliency Through New Features
November 19, 2020
Today, RapidRatings, the leading provider of financial health data and analytics, announced the expansion and enhancement of the FHR Network®—an innovative and secure membership platform that gives private company suppliers the ability to share their financial health rating and build more meaningful relationships with global business partners.
RapidRatings previously unveiled the FHR Network at the firm’s 2nd Annual Client Summit. Since launch, membership has grown by the thousands—with suppliers onboarding during the pandemic—worldwide.
“More than any other year in recent memory, 2020 has demonstrated that interdependence in the global supply chain runs deeper than simple buy-and-sell relationships,” said Douglas Cameron, President and Co-Head of Product at RapidRatings. “Sourcing and procurement teams want to work with private suppliers who can collaborate effectively, consistently, and transparently. The FHR Network now gives them expanded capabilities that help suppliers communicate their exposures and opportunities—discreetly and securely.”
New platform enhancements for suppliers include:
• Greater visibility—view detailed analyses via RapidRatings’ flagship FHR® Report
• Unique insights—dynamic benchmarking against industry peers
• More opportunities for growth—share FHRs to demonstrate strength and win new business
• Flexible disclosure options—choose to share FHRs with a full financial analysis, or share only the final rating and keep financial details confidential
• Collaboration support—see the top five questions key clients/customers are likely to ask and demonstrate financial health with a higher degree of financial literacy
• Protective privacy standards—control sensitive data with privacy and consent forms under an advanced legal framework
• Single-point data submission/disclosures—supporting all supplier data releases in one secure place, with the ability to grant continuous access to important buyers
Suppliers can learn more about the FHR Network or request an invitation to join at www.rapidratings.com/join.
RapidRatings® sets the standard for financial health transparency between business partners, 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 over 140 countries worldwide. The company’s predictive analytics provide insights into how suppliers, vendors, and other third parties are likely to perform. For more information, visit rapidratings.com.