Empowering smarter procurement with financial intelligence

Reliable procurement drives a need for trusted data

In the dynamic and highly regulated world of property compliance and risk management, Vantify saw an opportunity to stand out. The organisation, a newly rebranded entity of several trusted businesses all now operating under one name, were dedicated to delivering a comprehensive eco-system of services for managing risk, compliance, and operational efficiency.

One of the products offered by the organisation is Vantify Supply Chain. Vantify Supply Chain allows procurement and property management teams to identify and assess third-party contractors and suppliers, based on operational credentials, including health & safety, and ESG. However, it became clear that there was a gap when it came to checking the financial health metrics of these organisations.

“We had clients asking for more information to check if a supplier was financially sound,”

recalls Rob Mead, Chief Product Officer from Vantify.

“They were trying to make critical decisions without access to financial health data unless they chased it manually. That’s inefficient, can be risky, and it was a process that was not scalable.”

The team realised that adding business data with additional financial insight into supplier profiles would not only meet customer demand, but also establish a clear competitive advantage. However, finding a partner that could provide accurate financial data and integrate it into their platform without adding layers of complexity was no small task.

Vantify began exploring options. Their first thought was to turn to a large, well-known credit data provider. However, after initial conversations, it became clear that standard out-of-the-box solutions wouldn’t meet the integration flexibility or their sector-specific needs.

That’s when they discovered Red Flag Alert.

A partnership to deliver an easy API solution

Red Flag Alert pride ourselves on being willing to work together and tailor our solutions to suit the needs of our partners. And that’s exactly what we did when working together with Vantify. In fact, Rob described the relationship as collaborative from the outset:

“We spoke to Red Flag, and they were keen to work with us to find a way to make everything we needed possible. That willingness to co-create was key.”

Red Flag Alert provided Vantify with a direct API integration that feeds financial risk data straight into each supplier profile. Key indicators such as credit score, risk status, and financial stability are now visible at a glance, to make sure that customers are financially sound as well as compliant.

During development and implementation, Vantify worked closely with Red Flag’s technical team and their dedicated account manager, who were instrumental in guiding them through the all-important API integration process. We provided both technical support and strategic direction, ensuring that the project moved forward smoothly.

“We were given the API documentation, and we worked through it. If something didn’t work, our account manager would help us sort it out or point us to someone who could,”

Rob Mead, Chief Product Officer at Vantify explained.

“The integration process didn’t give us any major headaches and it was actually much smoother than we were expecting. Now we’re all set up, it just works. There haven’t been any issues at all.”