Public sector procurement teams
Is your supply chain's financial health strong enough to deliver government critical projects successfully?
Do any of the following apply to you?
Do you spend a lot of your time analysing just a few suppliers without focusing on your entire supply chain?
Are you adequately monitoring your suppliers' financial health?
Have you recently experienced the unexpected collapse of a supplier due to unforeseen financial difficulties?
In recent years the Cabinet Office has asked you to use the Financial Viability Risk Assessment tool that they have provided, a time consuming and laborious spreadsheet widely disliked by procurement professionals and suppliers alike.
The rules have changed (reference the PPN on Supplier Questionnaires) – you now only have to be compliant with the Guidance on EFS – you don’t need to complete the FVRA.
We have a solution that is EFS Compliant and is quick, simple and easy to use.
Get your EFS Metrics in seconds rather than hours. Risk Trace takes 1% of the time it takes to complete an FVRA and gives you the same results by accessing directly the most up to date financial information published by your supplier.
RiskTrace provides actionable insights allowing your valuable time on risk mitigation
How RiskTrace Works
We link directly to the financial information supplied to Companies House and other verified sources by your suppliers.
If more recent information is required, no problem, we can add in recent management account information quickly and easily.
This information is then assessed to the 9 key indicators that the government has set according to their Financial Viability Risk Assessment criteria.
We produce a RAG (Red Amber Green) system that will highlight any weaknesses in your suppliers financial health.
Why use RiskTrace?
RiskTrace highlights financial weaknesses in your current or future supply chain allowing you to see any potential issues and ask for financial guarantees if necessary, ensuring the success of your project.
The system is easy to use and highly cost effective.
Automation significantly reduces the time to conduct assessments
Automation removes human error from data input
Early detection of issues by continuous monitoring
Improved, informed, safer decision making
EFS compliant assessment and monitoring