VALLEY COTTAGE, NY / ACCESSWIRE / May 11, 2022 / CreditRiskMonitor® (OTCQX:CRMZ) is announcing the launch of SupplyChainMonitor™, a brand-new sister platform serving the company's rapidly expanding clientele working in procurement, at the Institute for Supply Management's ISM World 2022 event on May 23.
Mike Flum, President & COO, said, "With close to 250 large corporations from all over the world already using CreditRiskMonitor for procurement and supply chain risk management, we know there is demand for services that tackle financial risk assessment and ongoing monitoring of suppliers. About three years ago, we started developing SupplyChainMonitor, with the needs of the procurement use case and our core strategy of delivering services whose utility dramatically exceeds their price as our guiding principles. Over our 22 years of operations, this strategy has produced thousands of CreditRiskMonitor corporate clients worldwide."
Mr. Flum continued to say, "When we began the journey, we had no idea that the events of the past two years were going to unfold as they have. Between the supply shocks caused by the pandemic, the Russia-Ukraine war, mounting inflation, and the renewed focus on redundant, resilient, near-shoring of supply, the need for a service like SupplyChainMonitor has never been greater. We know that platform and its underlying data can dramatically assist in managing procurement risk and we are excited to announce its formal launch at ISM World."
SupplyChainMonitor (supplychainmonitor.com) offers interactive tools that help subscribers monitor and manage their company's supply chain risks at the aggregate and granular levels. With easy-to-use filtering and built-in views, SupplyChainMonitor™ offers concise dashboards with drill-down capabilities to examine counterparty risk across categories including geography, industry, and risk level, plus subscriber-provided metadata classes such as criticality and direct/indirect. The platform provides functions to easily view supplier locations on a world map, which supports real-time weather and natural disaster event overlays. Material news, weather, and other risk alerts and monitoring can be configured as immediate or daily digest push notifications. Fully-customizable company reports provide rich financial insights and charting including the industry-leading 96%-accurate FRISK® score, analyst-informed questions for at-risk counterparties, bond agency ratings, over 40 unique financial ratios, and much more. With records on just under 30 million businesses worldwide, predictive risk scores on approximately five million, and tier-2 payment data on about four million businesses, SupplyChainMonitor™ provides actionable insights for procurement risk management. Enhanced peer analysis tools allow comparisons of up to five companies over time across financial ratios and risk scores, simplifying bid reviews and alternative source investigations. Macro-level risk information on 180 countries across 10 risk categories and powered by the Economist Intelligence Unit is included to assist in sourcing strategy when examining geopolitical, legal, labor, tax, and security risks. The platform can also confidentially process financial statements from private counterparties to provide highly-predictive bankruptcy analytics and ratio comparison on all critical suppliers.
Prospective clients can request a demonstration of the service by going to supplychainmonitor.com/demo. Early adopter discount incentives are available for the first 25 subscribers.
CreditRiskMonitor® (creditriskmonitor.com) sells a suite of web-based, SaaS subscription products providing access to comprehensive commercial credit reports, bankruptcy risk analytics, financial and payment information, and curated news on public and private companies worldwide. The products help corporate credit and procurement professionals stay ahead of and manage financial risk more quickly, accurately, and cost-effectively.
Our subscribers, including more than 35% of the Fortune 1000 and well over a thousand other large corporations worldwide, use the Company's timely news alerts, research, and reports on public and private companies to make important risk decisions. The Company's comprehensive commercial credit reports covering both public and private companies worldwide are published through its web-based platform and feature detailed analyses of financial statements, including ratio analysis and trend reports, peer analysis, corporate issuer ratings from key Nationally Recognized Statistical Rating Organizations ("NRSROs"), as well as the Company's proprietary bankruptcy analytics: the FRISK® and PAYCE® scores. One of the FRISK® scoring model's exclusive input features is the aggregate risk sentiment of our subscribers based on their crowdsourced usage behaviors resulting in the improved classification of bankruptcy risk for the riskiest corporations and boosting overall accuracy.
The Company, through its Trade Contributor Program, receives confidential accounts receivables data from hundreds of subscribers and non-subscribers every month. This trade receivable data is parsed, processed, aggregated, and finally reported to summarize the invoice payment behavior of B2B counterparties, without disclosing the specific contributors of this information. The Trade Contributor Program's current trade credit file exceeds $2.5 trillion of transaction data annually.
Safe Harbor Statement
Certain statements in this press release, including statements prefaced by the words "anticipates", "estimates", "believes", "expects" or words of similar meaning, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, expectations or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, including, among others, those risks, uncertainties, and factors referenced from time to time as "risk factors" or otherwise in the Company's Registration Statements or Securities and Exchange Commission Reports. We disclaim any intention or obligation to revise any forward-looking statements, whether as a result of new information, a future event, or otherwise.
Mike Flum, President & COO
SOURCE: CreditRiskMonitor.com, Inc.