What This Article Covers
Overview of Company Matching – How RapidRatings identifies and segments companies.
Company List Data Requirements – What fields are required and recommended for successful matching.
Items to Verify Before Submission – Key checks to ensure your list is accurate and consistent.
Prioritizing Company Lists – Tips for ranking suppliers by criticality, spend, and relationship type.
Reading Delivered Results – How to interpret delivered statuses and matching outcomes.
Overview of Company Matching
RapidRatings company matching allows your team visibility and insight into company lists of almost any size. Our matching process identifies and segments companies (i.e., public, private, public parent) efficiently and with accuracy.
We continually enhance our matching algorithms and enrich our database to improve our accuracy. However, the completeness and accuracy of results can vary based on data received, and as standard practice, we recommend that clients review the results provided.
Company List Data Requirements
RapidRatings’ workflow employs automated algorithms, emphasizing the need to receive complete and accurate data. We ask clients to adhere to the data requirements below and remove any duplicate entries with identical information on submitted lists.
To ensure proper fields are provided, a standardized template has been developed. Contact Client Success or [email protected] can provide the template to populate.
Recommended Data Requirements | Minimum Data Requirements |
In separate spreadsheet columns:
NOTE: Outreaches cannot be launched without Contact Email Address and Contact First and Last Name information. | In separate spreadsheet columns:
NOTE: Lists cannot be processed without this information. |
Items to Verify Before Company List Submission
RapidRatings recognizes the complexity of its clients’ risk programs and systems used therein. Compiling supplier lists across multiple programs and ensuring consistency in that data can be challenging. However, inconsistency in data provided whether aggregated or not (for example, potential duplication for identical supplier entities) will inherently impact accuracy and results.
Following are common items to verify before providing RapidRatings list submissions.
Information Type | Issues to Verify Before List Submission |
Company Names |
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Country Information |
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Address Information |
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Website Information |
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Contact Information
NOTE: Outreaches cannot be launched without the Contact Email Address and Contact First and Last Name information. |
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Prioritization of Company List Data Prior to Submission
RapidRatings’ value to clients is evaluating on-going risk that critical suppliers may pose. Typically, 60-80% of client suppliers are private companies. These companies require RapidRatings' outreach service to obtain the financials to generate their FHR ratings.
To help create a base to determine outreach efforts to obtain private company financials, it is strongly recommended to prioritize your company list prior to submission by:
Business Criticality: Criticality to the client operation to produce the goods and services sold to the market
Annual Spend: Yearly amount spent with the suppliers
Relationship Type: Whether the supplier has a direct vs. indirect relationship to the client’s operations
Direct suppliers contribute to a company’s profit, performance, and competitive advantage (for example, providing materials and components sold as part of a product)
Indirect suppliers are needed for day-to-day operations but do not directly drive profit (for example, facilities and equipment)
Reading Delivered Results
For each row of delivered results, one of the below statuses will be shown.
Assigned Status | Reason |
Rated - Public | When a supplier exists in RapidRatings' active public company universe |
Rated - Private | When a supplier exists in the client's master private portfolio |
Rated via Public-Parent | When a supplier has a parent company that is public and exists in RapidRatings' active public company universe |
Rated - FHRX | When a supplier exists in RapidRatings' FHR Exchange universe |
Rated - HealthMark | When a supplier exists in RapidRatings' active HealthMark coverage universe |
Private - Potential Rating | When a supplier is not found to exist in any form of RapidRatings' coverage NOTE: If a company has a public parent entity separated from it by more than 1 step of ownership, we consider it a private company. We do not advise relying on a parent company’s rating for risk assessment when the parent is more than one degree removed. |
Not Rated - Nonprofit/Government | When a supplier cannot be rated by RapidRatings due to an ineligible industry |
Not Rated - Ineligible Bank | When a supplier cannot be rated by RapidRatings due to an ineligible industry |
Not Rated - REIT/PE/Investment Funds | When a supplier cannot be rated by RapidRatings due to an ineligible industry |
Not Rated - No TTM Financials/New IPO | When a supplier cannot be rated by RapidRatings due to out-of-date data or currently unavailable data |
Not Rated - Private Insurance | When a supplier cannot be rated by RapidRatings due to an ineligible industry |
Not Rated - Public | When a supplier is found to be a public company that does not currently exist in RapidRatings' public coverage universe |
Other - Bankrupt | When a supplier cannot be rated by RapidRatings due to a bankruptcy |
Incomplete Information | When RapidRatings' is not given enough information from the client to adequately match the provided supplier to a company in any RapidRatings coverage universe |