Your company has been invited by our mutual client to join the FHR Exchange in an initiative to better understand the financial health of their key suppliers and vendors. The FHR Exchange allows our clients to standardize and enhance the way they analyze their suppliers’ financial health and provides them a platform to engage with you transparently.
By working with RapidRatings to join the FHR Exchange and produce a Financial Health Rating for your company, the benefits are two-fold. You not only foster a more transparent business relationship with your client, but you also have the opportunity to learn more about your own company’s financial health from an unbiased perspective. Additionally, as a member of the FHR Exchange, you have full control over your FHR and associated reports.
Our clients use Financial Health Ratings to strengthen their relationships with their valued partners. In most cases, this request for you to share your FHR is part of a larger, standard risk management program being implemented across the supply chain and your firm is in no way being singled out for scrutiny. This is a due diligence process that delivers value to both sides.
The FHR is not viewed in a vacuum and assists our clients in systematically assessing hundreds or thousands of suppliers or vendors on a standardized basis in order to initially identify where financial distress is most likely to occur. The FHR provides a neutral starting point for a larger conversation with your client and permits a proactive rather than reactive approach.