I See What You Mean

Can Transparency About Financial Health Get Companies On The Same Page?


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If you think buyers knowing the financial health of their suppliers is better for one side than the other - particularly if the supplier is struggling - you're not alone. It seems counter-intuitive, but not for RapidRatings. They help buyers and suppliers strengthen relationships on the basis of a financial health rating and the data to back it up. Data they get directly from the public and private companies they rate. And it works. Large enterprises with hundreds or thousands of suppliers have a deep interest in the financial well-being of their suppliers. They're willing to step up as a partner when needed - if they know it's needed. Listen in for some true business savvy about building business relationships and resilience on more than the usual contract terms and conditions.
Here are a few ahh-ha! moments I had.... 
4:54 - It seems suppliers take risks when disclosing financial information to buyers, but in reality it doesn't work that way.
7:59 - Transparency is key in any relationship but when paired with strong analytics you get intelligence. With transparency and intelligence, you're on a good path for solving problems.
10:55 - How data and analytics create a same page for companies to get on.
20:10 - How RapidRatings' rating and the analytics behind them provide a platform for a business relationship - with financial issues being a part, not the whole.
26:16 - Financial statements and analysis are a reflection of the human condition, because what you're really measuring are the results of management decisions.
38:14 - How RapidRatings' teams facilitate what might be contentious discussions with positive energy, loyalty and empathy.
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I See What You MeanBy Lou Kerestesy

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