The last three years have been some of the most turbulent in living memory. With Brexit, the pandemic, and the war in Ukraine hitting businesses in quick succession, you’d be forgiven for feeling like the world is lurching from one crisis to another.
This uncertainty looks set to continue. The markets are giving off mixed signals, and a lack of clarity around government energy assistance is adding to the confusion. This is also leading to increased financial risk. Many businesses are stuck in limbo, unsure if they should be preparing for a modest recovery or a full-blown recession.
Against this backdrop, it’s tempting to view risk assessment as a fool's errand. How can you predict the future in a world where once-in-a-lifetime shocks seem to be happening every year?
This feeling is understandable, but misguided. As the world grows more uncertain, forecasting risk is more important than ever. Rather than giving up, we need to find ways to make predictions that won’t crumble in the face of unforeseen events. This is where we can help.
▶️ Did you miss Craig’s webinar on managing risk? You can watch it again here
Traditional methods of risk assessment have their place, but they don’t provide the whole picture. A standard credit check will only look at a company’s current finances and immediate customer base. This will flag up obvious risks but may miss weaknesses further along the supply chain.
The key is to look at the bigger picture. The businesses you deal with may be well-equipped to cope with market shocks, but what about the businesses they deal with? To truly gauge a company’s level of financial risk, you need to look at its customers’ customers and its suppliers’ suppliers. Only then can you be sure that your money is in safe hands.
🎙️ Listen to our ‘On the Spot’ podcast on managing risk
When it comes to risk assessment, the problem isn’t a lack of information. Detailed reports are available on the Company’s House website, but finding the relevant data is easier said than done. Reports are uploaded as PDFs, leaving you no choice but to sift through each document manually. Doing this for one company is a chore. Doing it for a whole supply chain is nothing short of an ordeal.
This had been a problem for years and, frankly, we were sick of it. That’s why we created SearCHeD. This simple tool turns thousands of Companies House PDFs into searchable documents, letting you find the information you need in a fraction of the time:
Search for keywords across all companies in the database to spot emerging risk patterns in your industry. 👀
Create reports at the click of a button by downloading search results as a PDF, Excel spreadsheet or CSV file. 🖨️
SearCHeD gives you a detailed picture of a company's present situation. The next step is using this data to make accurate predictions about the future. This is where our customers really start to see the value of our service:
There’s no such thing as a perfect prediction, but there’s a big difference between an educated guess and a stab in the dark. We put company data at your fingertips so that you can spot the risks that others miss.
Arrange a free trial today, and discover how Company Watch can help you minimise risk.
Disclaimer- The past performance of a company is not always an indicator of future success. Read our terms and conditions here.