Fleetmaxx Solutions

A need for accurate financial data

Fleetmaxx Solutions, an established company operating within the fuel card space, faced challenges when looking to futureproof their organisation. They needed to access reliable, up-to-date financial data to support their growth strategy and streamline the customer onboarding process.

In the fast-paced world of fuel cards, accurate credit risk assessments are essential because margins are tight. Risk must be minimised, but Fleetmaxx Solutions found that their previous data provider lacked the real-time insights required to make informed decisions. They noticed that when undertaking evaluation of limited companies, the financial accounts could be up to 21 months out of date.

This outdated information left Fleetmaxx in the dark when it came to assessing the true financial health of potential clients, especially new and fast-growing businesses. Their internal process for measuring credit risk had become heavily manual, requiring them to request management accounts and profit and loss statements directly from customers. These documents would then need to be authenticated by human analysts, who would provide credit recommendations. Over time, even this flawed system broke down, leaving the company without any reliable way to measure financial viability or creditworthiness.

As a result, Fleetmaxx Solutions found themselves missing out on early engagement with promising businesses, particularly within their first two years of operation. The gap in accurate, real-time data created inefficiencies, delayed customer acquisition, and posed a significant risk to overall business performance.

Credit scoring expertise to support growth

In search of a robust and forward-thinking solution, Fleetmaxx Solutions turned to Red Flag Alert. The choice was strategic because not only did Red Flag Alert offer a comprehensive platform with market-leading data capabilities, but it also delivered features that addressed key gaps their previous provider could not.

One major advantage was access to real-time updates and management account data, allowing Fleetmaxx Solutions make credit decisions based on a company’s current financial position and not based on outdated reports. Additionally, our bespoke credit reporting for non-limited companies, a service unavailable through most credit reference agencies but vital for sectors like fuel cards where sole traders and partnerships are common.

Beyond the data itself, the onboarding experience with Red Flag Alert was seamless. Dedicated account managers supported Fleetmaxx Solutions throughout the implementation process by ensuring a smooth rollout, offering expert training, resolving any technical issues quickly, and providing ongoing support to ensure maximum value from the platform. The shift to a fully digital, streamlined system empowered their team to focus more on growth, while trusting that risk was being professionally managed.