This past year was a huge milestone for The Red Flag Group®’s flagship product, IntegraCheck® | Integrity Due Diligence, as we launched our seventh-generation due diligence reports and automated processes to enable clients to meet their due diligence obligations and make Better Decisions™ on selecting, onboarding and monitoring their customers, suppliers, distributors and other business partners.
Our significant milestones
We included the following enhancements in IntegraCheck® 7.0 to ensure that the issues we identify are relevant and aligned to each client’s industry, business activities and risk tolerance. This is vital to effectively manage the various risks arising from different industries and countries, as inherent risks in the finance sector may not present risks in pharmaceuticals or information technology, for example.
- The IntegraRating®
This ten-point proprietary risk rating system enables clients to make faster and Better Decisions™ on their key business partners. IntegraRating® is our industry-leading analysis that considers industry, country and geopolitical factors to provide a relevant risk rating.
- The Peer Benchmarking
Using historical data and global data aggregators, our radar chart provides clients with a clear visual display of how an entity measures compared to its peers in the same industry and country, to give stronger context around the performance of the company in question.
- The Business Risk Ratio
Our simple three-directional dial clearly shows our clients which of their partners are outperforming, on par or underperforming, so that they have a better assessment of partners that may potentially impact on their business objectives and financial relationships. Find more information about the Peer Benchmarking and the Business Risk Ratio.
- The Profile Rating Overview
Each of the four main profile sections of our due diligence reports have been extensively enhanced to include insightful ratings and scores, aligned to each client’s risk tolerance using our risk algorithms. The enhanced visuals ensure easy absorption of the identified issues and minimise information overload.
In addition to these major enhancements in our due diligence reports, we started offering IntegraCheck® 7.0 as a pay-as-yougo (PAYG) service. This means that our clients can now order due diligence reports using PayPal or with simple monthly invoicing, with no binding contractual commitments or volume requirements. PAYG was introduced to our due diligence suite so that existing and prospective clients have wider access to our enriched due diligence solutions and services, regardless of their size, industry or location.
Last year we also launched IntegraAlert® | Integrity and Risk Monitoring, a simple subscription service that helps clients extend the life of their IntegraCheck® reports by providing 24/7 ongoing monitoring of third parties.
With the increased depth of analysis and wider industry exposure, we have more than doubled the size of our Research & Analysis teams and further increased our in-house language capabilities and subject-matter experts. The Red Flag Group® currently has more compliance and risk professionals certified by various industry bodies (including but not limited to the Society of Corporate Compliance and Ethics) than any other competitor in the compliance space.
These developments were achieved through a culmination of your valuable feedback, industry consultations and market trends. We listened to your concerns, implemented your requirements and continue to address your needs as they occur.
Our future is automation
In an increasingly technological society, we are working on automating as many of our processes as we can to ensure more efficient IntegraCheck® production and quicker delivery to our clients. This will enable us to access online data more quickly, deliver reports faster, and focus more on the analysis and commentary, providing enriched proprietary due diligence data, insights and intelligence.
For over 13 years we have been building and enriching data on entities and individuals of special interest globally. After many years acquiring and refining this enriched data, we will be formally making it accessible through subscription, so users have adequate reliable information, ratings and insights to help them meet their due diligence requirements.
Automation will also enable our global Research & Analysis team to use in-depth analysis of historical data, current trends, and activities of third parties to provide high-level predicative analysis, counsel and advice on any partners that are likely to expose our clients to risks.