Discover the benefits Power Solutions saw by integrating Red Flag Alert into its operations.
Red Flag Alert was deployed to address some key business challenges:
- The PSUK team was spending time manually updating its CRM and not taking advantage of the most up-to-date business information.
- Matching PSUK to suppliers that best matched their needs, to ensure clients and supplier relationships remained strong.
- It was time-consuming to perform in-depth due diligence on prospects.
- With such a huge potential pool of prospects, there was a need to accurately segment the market to focus energy on the best prospects.
- It was difficult to obtain visibility on clients’ financial risks as they emerged, causing cash flow and supplier relationship risks.
Let’s take a look at how PSUK utilised Red Flag Alert’s dataset within its business.
- We cleaned the existing CRM by removing outdated and irrelevant records.
- The PSUK database was then plugged into the Red Flag Alert data using our API. This enabled the PSUK CRM to be updated in real time with the latest available business intelligence.
- Red Flag Alert’s dataset allowed PSUK to segment businesses at a more granular level. This enabled them to see patterns within their existing customer base, reveal the type of company which could be a good fit for their service offering, and allow them to build prospect lists closely aligned to their best customers.
- Red Flag Alert provides in-depth data about the financial health of every business in the UK. PSUK used this data to provide enhanced due diligence and get a more accurate view of a potential customer’s finances, helping onboard the right businesses with the right supplier and monitor emerging risks.
Integrating Red Flag Alert into its operations gave PSUK several benefits:
- Having up-to-date intelligence ensures that PSUK does not waste time targeting unsuitable prospects. This can help find prospects that fit the criteria of the supplier and avoid companies that look to be a bad fit, such as those in poor financial health.
- PSUK no longer needs to spend time manually inputting data into its CRM, as the Red Flag Alert API does it automatically. This frees up staff to focus on other important activities.
- Red Flag Alert’s data helps PSUK find the best client-supplier matches. Clients don’t have to wait long to be matched to the service they need, and suppliers are happy to receive only customers that are a great fit for their services. This allows PSUK to build excellent broker to supplier relationships.
- PSUK can use the data on financial distress to forecast when it might stop receiving commission payments. It can use this information to make more accurate future cash flow predictions and ensure it isn’t relying on revenues that might not be paid.
- PSUK can look at patterns within its existing customer base, revealing the type of company which may be a good fit for its service. Once it has defined desirable customer types, it can use Red Flag Alert to filter for this company type and build highly targeted marketing lists.