A supply chain is often fundamental to any business and its ability to operate efficiently. Knowing and understanding your supply chain, and the companies within it, can protect you from any dangers if it suddenly breaks down without warning. Whether you provide a service or goods to your customers, you will have suppliers in order to stay in business – so it’s important to monitor them to identify any changes in their behaviour or service, as these will impact your business and your customers.
How can you find out about a supplier? Company checks and director checks are an excellent way of discovering who you are really doing business with. The Red Flag Alert platform can help you do this. For example, you may have a supplier in a different part of the country, they have always been reliable and have never caused you concern, but you hear on the grapevine they have been making late or non-payments or they’ve had a sudden change in directorship. These can be early warning signs of distress.
Using our platform you can investigate the supplier to see if they have had any changes in their health, filed late accounts or had a change of directors. The ability to perform comprehensive company and director checks helps you safeguard your business from a supplier in distress. A supplier suddenly going into business failure can cripple your business, and that of your customers, but using Red Flag Alert to identify and assess any changes means you can actively protect your business and safeguard both you and your customers’ future.