Red Flag Alert is perfectly placed to help financial service organisations utilise up-to-date and detailed business intelligence to power their business operations.
Red Flag Alert was built by Begbies Traynor in 2003; it enabled them to use business intelligence to become a market leader in the corporate rescue and recovery market. Some of the first users of the system were large financial services companies, such as Barclays Bank, Close Brothers and Bibby Financial Services.
The Red Flag Alert database has been fine-tuned and extensively developed since 2003. It now aggregates information on over 5 million businesses in the UK. The information contained on UK businesses is phenomenally detailed: 40+ fields are updated every day and this business intelligence can help financial services firms across every business line. Here are some of the ways it helps.
Whether the decisions being made are about new customers or suppliers, our information will give you the detail you need to get it right. Every business in the UK has a financial health rating; this score is devised from the analysis of 142 financial indicators (and 13 years of experience). This score looks at how healthy the business is financially and red flags are assigned to businesses showing signs of financial distress.
Whether this means building segmented sales lists or investigating potential clients in more detail, Red Flag Alert enables you to get the information you need. If you’re segmenting the market and looking to approach a particular type of client you can build a detailed profile in Red Flag Alert and then target those businesses. If you need to understand more about one specific target business Red Flag Alert will help you look into its financial situation in more detail. You can have visibility on over 40 fields. Here are a few examples:
For business development teams this level of insight can be helpful when preparing pitches for new opportunities. For example, it is invaluable when generating deal flow in the M&A space; being able to advise on acquisition targets in depth can help M&A departments win projects and keep their deal flow high. It is just as effective at enabling the sales team of an insurance broker to segment the market into businesses which have a particular type of risk profile.
For teams who are involved in complex project work having access to up-to-date financial information is vitally important. Data is vital to most projects, so having access to exceptional business intelligence will enable financial consultants to provide better analysis, more detailed advice, and consequently a better customer experience.
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Economic disruption caused by COVID‐19 will see unpaid business debt double to more than £8.6bn this year. According to The Insolvency Service over 17,000* companies went out of business in 2019, with analysis by financial risk firm Red Flag Alert showing this meant £4.3bn of invoices were written‐off.
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There are 124,000 businesses across Greater London in significant financial distress, with almost all sectors being affected. Red Flag Alert data for Q3 2019 found that significant financial distress is increasingly prevalent throughout the capital, with 21 out of 22 sectors experiencing an increase.