Frequently Asked Questions
Distributing a Rating
Understanding the Process
- Q: What information is disclosed?
- We need your full financial statements in order to generate complete our analysis. You can then chose to distribute a FHR Report, which includes full disclosure of your financial data, or a Non-Financial Report, includes your rating and analysis but does not disclose any of your sensitive financial data.
- Q: How does the process work?
- The process is easy. If you have not already, start by providing us with your financial statements. We will process the statements and share your rating and report with you. Once you have purchased distribution credits through our online system, you can nominate recipients. We will then send a copy of your report to these recipients on your behalf. When necessary, you can update your rating with new financial data, or purchase more credits when you run out.
- Q: Who do companies typically distribute reports to?
- Companies use the FHR Network for a variety of applications. Frequent uses include distribution of a report to a prospective customer as part of a RFP, or to an existing customer to satisfy their procurement risk management processes. Other common recipients include credit officers at suppliers, banks and non-bank financial institutions, shareholders, insurance companies, and accountants.
- Q: How do I provide you with my financial statements?
- We provide a secure upload facility which is used by thousands of private companies around the world to upload data to our clients.
- Q: Will you keep my financial statements confidential?
- Absolutely! Our ability to keep sensitive information confidential is a key pillar of our business model. Our client base includes some of the largest companies in the world with extremely stringent confidentiality and security requirements. Data you provide to us will remain confidential and will only be shared with recipients that you provide written/electronic permission to view your data.
- Q: Will I get to review my rating before it is distributed?
- Yes. We will provide you with a non-distributable copy of your report to review.
- Q: What does it cost to be rated and view my rating?
- We do not charge for ratings, as this is a conflict of interest. We will produce an initial rating for your company with no obligation to purchase anything from Rapid Ratings. However, you will need to purchase distribution credits in order to share the rating outside of your company. As new financial data becomes available we will update your rating at no cost while you have valid distribution credits on your account.
- Q: Will Rapid Ratings sign a non-disclosure agreement?
- The process of uploading your financial statements to our portal includes acceptance of a set of legal terms and conditions. This creates a mutually binding NDA with the same level of disclosure restriction as many other NDAs we sign in our business. You can review the language here. Unfortunately we cannot sign bespoke NDAs for each transaction.
Make a Distribution
- Q: What information do I need to provide you with in order to complete a distribution?
- In order to complete a distribution we need the contact’s name, email, title and company.
- Q: How will you distribute the report to my nominated recipient?
- We will send an email to the recipient, and your report will be include as a password protected PDF.
- Q: Do you offer multiple report styles to distribute?
- We have a standard FHR Report which contains full disclosure of financial information and a detailed financial health analysis. We also provide a Non-Financial Report which contains the rating information but keeps your financial data confidential.
- Q: Who can I distribute the reports to?
- The FHR Network is intended to support distribution of ratings and financial data to parties that need a validation of your financial position in support of business activities.
- Q: Should I notify the recipient in advance of the distribution?
- Yes. Your recipient is more likely to note and act on our distribution if you've asked them to keep an eye out for it.
- Q: Can you customize the reports?
- No, the reports cannot be customized.
- Q: How do I purchase distribution credits?
- We have an easy to use online shop which accepts Visa, MasterCard and American Express. You can purchase credits here.
- Q: How long is a distribution credit valid after purchase?
- Distribution credits are valid for one year from purchase.
- Q: Can you invoice me for large purchases?
- Yes. We can send you an invoice if you want to purchase our 100 distribution pack.
- Q: Is there a package that allows me to use the rating or report for a broader distribution initiative, like investor relations or advertising?
- Yes, we can accommodate broader distribution initiatives. Please contact firstname.lastname@example.org and we can help you further.
Financial Statement Processing
- Q: Can I update my rating when new financial data becomes available?
- Absolutely. We will update you ratings with full year or half year data as it is released, as long as you have distribution credits available on your account.
- Q: Do you have any requirements on the age of financial data distributed?
- We will only distribute reports that have a balance date within 12 months. This ensures the information relied on through the network is current and an accurate reflection of risk. We are always happy to update your financials with half year of full year numbers to make sure your reports are current.
- Q: Do the financial statements need to be audited?
- Rapid Ratings can accept audited or unaudited financial statements.
- Q: What languages do you support?
- Rapid Ratings can accept financial statements in any language. The reports we generate are in English.
- Q: What financial information is required?
- We require an Income Statement and Balance Sheet. We do not need a full cash flow statement, but we do need a Cash From Operations figure. We only need one full year of information, but typically providing 2 or 3 years provides a trend information resulting in a richer final analysis.