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Company Matching

Run Xu
Updated

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. Depending on the requested company match (segmentation) request type, we ask clients to adhere to the below data requirements and remove any duplicate entries with identical information on submitted lists.

NOTE: To ensure proper fields are provided, standardized templates have been developed for each below request type. Client Success or support@rapidratings.com can provide a template for you to populate.

Company Match Request Type Recommended Data Requirements Minimum Data Requirements
Public/Private Only Full Legal Company Name Company Name

Public/Private & HealthMark

 

HealthMark Only

     In separate spreadsheet columns:

  • Full Legal Company Name
  • Street Address
  • City, Town, Municipality
  • State Code
  • Postal Code (Zip)
  • Country

   In separate spreadsheet columns:

  • Company Name
  • Country

 

Issues to Resolve Prior to 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 examples of common issues to resolve before providing RapidRatings list submissions.

Match Type Issues to Resolve Before Company List Submission
Public/Private Matching
  • Prefixes on data (for example, "ZZ_XX_" before company names)
  • Incomplete company names (DBA, trade name or abbreviation vs. full Legal name)
  • Foreign characters included in provided names

HealthMark
  • No country (minimum requirement for HM)
  • Incorrect country
  • Country code (instead of full country name)
  • Country placed in a wrong column
If Interested in Specific Address Match
  • Incomplete city or state
  • Incorrect city or state
  • City or state placed in a wrong column
  • Poor address formatting (including contact name, phone number, and email address)
  • Incomplete address
  • No address
  • Foreign characters

 

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 requiring outreach by our Client Delivery and Operations Team 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:

  • Criticality to client operation to produce the goods and services sold to the market
  • Yearly amount spent with the suppliers
  • 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)

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