Timelines: a few days - 2 months
The process can take anywhere from less than a week to 2 months or so. It depends on various factors, such as the supplier’s fiscal year end-date, how quickly they are able to generate financial reports, etc. It will also depend on your messaging to the Target.
We follow up with Targets at least once a week. If a Target is unresponsive to six messages and two phone calls, we will escalate the case back to the primary user and the internal relationship manager to determine next steps.
We are able to place a higher priority on a select few solicitations that your company may need a rating for more urgently. In these instances, our team will reach out at an accelerated pace to expedite the process. When making a solicitation request for one of these companies, please simply ask that we treat the case as high or critical priority.
Our average global success rate is above 80%, varying year on year and by country.
Often, our clients achieve higher success rates due to a variety of factors, such as the strength of the language in their introduction letter and the consistent standard message that is relayed to suppliers.
An inconsistent message can diminish the importance of participation and lead to a lower success rate. Success rates therefore vary by client.
Success rates tend to improve over time, as a program becomes more established and the companies previously rated are refreshed
There is no noticeable difference in success rates based on size of company. We can rate any company with a full income statement and a balance sheet, regardless of size. The ratings are just as accurate for large, medium or small firms.
As unsuccessful solicitation attempts still require time and resources from our team, we do count these against the amount of solicitations permitted in your contract