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Red Flag Alert Reviews & Product Details

HR
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Red Flag Alert?

I like the flexibility that RFA gives me along with the metrics they use and bespoke searches they can do. I have been using RFA for three years and plan on using more in future. Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

Not alot. Sometimes i wish that the system would be ever so slightly faster but overall its very good. Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

data management Review collected by and hosted on G2.com.

Red Flag Alert Overview

What is Red Flag Alert?

Red Flag Alert is an independently owned business data, credit referencing agency and enhanced AML platform that provides live data for business risk that enables real-time decision making. Red Flag Alert was formed within the largest insolvency firm in the UK, Begbies Traynor. It was designed by Begbies to identify risk of insolvency in businesses before before breaking away in 2012, to an entirely separate product. Red Flag Alert has over 25 years of experience in spotting early warning signs of business failure and uses that experience to bring a unique approach to business and credit data. Ingrained in this approach is the belief that in today’s business world, informed decision making needs real-time data. Our data is live and up to the minuted which is a foreign concept when being compared to traditional credit referencing agencies. To that end, Red Flag Alert supplies the most relevant data in the industry, including live data from multiple sources. Red Flag Alert also understands that traditional credit referencing agencies have an extremely flawed system and we take a different perspective on insolvency, now being the UK's number one insolvency scorecard. Using our deep understanding of business failure, we developed the number one algorithm for predicting business failure and creditworthiness, that allowed us to be the first to predict such failures as Carillion, The Arcadia Group and Silicon Valley Bank. Red Flag Alert offers a complete business data suite that is split over 5 pillars: Find, Check, Comply, Protect, Connect. Find – Red Flag Alert’s has 15 million UK company records and 350 million international company records in our database. Our Find feature allows for incredibly granular searches on company data with filters such as debenture and auditor searches in addition to the other 100 filters. Check – In-depth Company reports are available on all companies on the Red Flag Alert platform. Our company reports provide a detailed summary of a company’s financials and the risk associated with doing business with them. These reports are easier to understand than your traditional reports. Our platform reports interactive graphs of financials and the ability to export the report onto a CSV file for future use. Featured information on a report includes credit score and recommended credit limit, company financials, company history, CCJ data, insolvent creditor & debtors, directors & POSCs and much more. Red Flag Alert utilises a unique insolvency risk scoring system represented by flags that are clearly defined in our platform as opposed to a traditional numerical score, so there can be no confusion as to their associated risk. Comply – Red Flag Alert has a full suite of compliance and enhanced due diligence software. Our platform is entirely digital and eliminates time-wasted on manual AML checks; using our platform will allow you to do thousands of checks within seconds with our bulk upload capability We use a multibureau checking system to give an increased match rate, with reduction in time having to go back to your client for further information. Red Flag Alert’s Comply platform delivers KYC, AML, PEPs & Sanctions & Adverse Media checks. Protect – The Red Flag Alert platform includes a real-time portfolio monitoring system that allows you to monitor 79 company events. This allows you to receive emails in real-time on important events selectively chosen by you. Each portfolio is fully customisable, so you will only receive alerts for what you want to know about and when you want to know about them. Connect – Red Flag Alert can integrate with multiple major CRMs including Hubspot, Soho, Salesforce and Dynamics. We also have GraphQL as an integration option and will build the app to fit your needs.

Red Flag Alert Details
Languages Supported
English
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Product Description

Red Flag Alert is a business intelligence database that allows businesses to identify the credit worthiness of their clients, suppliers and prospects, with live monitoring alerts ensure to ensure user are kept abreast of potential risks to their cash flow so corrective steps can be taken.


Seller Details
Year Founded
2003
HQ Location
Manchester, GB
LinkedIn® Page
www.linkedin.com
55 employees on LinkedIn®

RA
Overview Provided by:

Recent Red Flag Alert Reviews

Benjamin Alexander V.
BV
Benjamin Alexander V.Small-Business (50 or fewer emp.)
1.0 out of 5
"Overcharged and Disappointed: Lack of Transparency with Red Flag Alert"
The Red Flag Alert system itself is useful and meets all the requirements I had for business credit checks.
Ronda J.
RJ
Ronda J.Small-Business (50 or fewer emp.)
0.0 out of 5
"Really Disappointing - Searches didnt work, Monitoring didnt work."
Nothing it was all really bad I would not recommend this at all to anyone
HR
Harvey R.Small-Business (50 or fewer emp.)
5.0 out of 5
"Great product even better service"
I like the flexibility that RFA gives me along with the metrics they use and bespoke searches they can do. I have been using RFA for three years an...
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Red Flag Alert Media

Red Flag Alert Demo - Home Platform Dashboard
RFA Platform Analytics Dashboard
Red Flag Alert Demo - AML Dashboard
A central place for all thing AML
Red Flag Alert Demo - Portfolio Management
Portfolio Manager for Events
Red Flag Alert Demo - International Credit Check
International Credit Check Capability
Red Flag Alert Demo - Company Credit Report and Financial Info
An in-depth view of a company's finances, insolvency risk scoring and countless business information.
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Have you used Red Flag Alert before?
Yes

7 out of 8 Total Reviews for Red Flag Alert

3.4 out of 5
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Red Flag Alert Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons
G2 reviews are authentic and verified.
Benjamin Alexander V.
BV
Director
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Red Flag Alert?

The Red Flag Alert system itself is useful and meets all the requirements I had for business credit checks. Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

My experience after 12 months has left me disappointed. Upon renewal, I took the time to compare the market with competitors such as CreditSafe, only to discover that Red Flag Alert had significantly overcharged me for their services.

After raising the issue, they did reduce the price, and I re-entered into the contract based on the understanding that we could exit if certain changes occurred within our business. Unfortunately, this turned out to be a poor decision. When we later requested a refund for the unused period after making those business changes, Red Flag Alert refused, despite previously agreeing to these terms. This was extremely frustrating, as they did not honor the commitments they outlined during our initial discussions.

While we continue to use the system as part of a broader network, I would strongly advise brokers or small businesses seeking a credit reference platform to consider alternatives like CreditSafe, which provided me with a competitive offer from the outset and a more transparent approach.

In hindsight, I feel misled and overcharged by Red Flag Alert, and this experience has left a sour taste regarding their business practices. Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

Credit Checks Review collected by and hosted on G2.com.

Ronda J.
RJ
Director
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Red Flag Alert?

Nothing it was all really bad I would not recommend this at all to anyone Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

This site doesnt work efficantly, Searches often do not appear leaving you to go else where to find company numbers. The reporting is complicated and the monitoring never worked. I sent many e mails regarding the system not working correctly. Too expensive and a really poor service. Which is a shame Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

They did not resolve any problems they tied us into a contract for a system which did not work efficently Review collected by and hosted on G2.com.

MB
H
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Red Flag Alert?

Having recently partnered with Red Flag, I've continually been impressed with the way they work. Nothing is too much trouble, help is always available and the product the offer has already enhanced our approach to targeting customers in or sector. They are flexible, willing to chat and talk things through and give great feedback and options that can and are workable and add benefit. Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

Nothing to dislike - some more customisation of search functions and the ability to save would be really handy, but that's a very minor observation. Review collected by and hosted on G2.com.

Recommendations to others considering Red Flag Alert:

Give Red Flag a go, easy to use and much more flexible and informative than some of the other legacy options in the market Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

Credit checking prior to accepting new business, updating prospect lists with new information, and creating new prospect opportunities. We've recently cleansed over 6000 records in less than 2-hours, whereas before I would have taken previous vendors nearly a week! Review collected by and hosted on G2.com.

Sarah A.
SA
Senior Business Analyst
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Organic
(Original )Information
What do you like best about Red Flag Alert?

They've taken publicly available information and presented it in a way that's straightforward to use and their flag system is helpful and accurate. Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

In demo they'll show you a company with a huge volume of information, but when you get under the skin of it, for a lot of smaller businesses, what they have is much thinner and mostly available for free from Companies House. Not that this was unexpected given that large companies attract a lot more column inches and evaluation, but more info for smaller firms would be helpful.

If you're searching by SIC codes, it's only as good as the information put into Companies House and it's depressingly rare for companies to have accurate SIC codes.

BUT...our login stopped working and resetting did not resolve. After speaking with them on the phone, we were told they would sort out. This didn't happen so we stopped paying their invoices, so they pursued us legally. Given we weren't able to use their service, threatening us with legal action felt extremely heavy handed. It's hard to recommend a company who behaves like this when all we needed was password assistance. Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

When we were able to login, it was helpful to quickly be able to see the health of a company and search by that criteria. Review collected by and hosted on G2.com.

PM
Managing Director
More Options
Validated Reviewer
Review source: Organic
What do you like best about Red Flag Alert?

Red Flag Alert saves me a huge amount of time researching potential prospects. It's slick and has a vast amount of information available that it would be difficult to find elsewhere. Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

I highlighted to Red Flag Alert that I could benefit from extra search parameters. To be fair, they have already started developing what was requested now and have let me trial the beta version. Very impressive so far. Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

It's reducing the time I spend analysing potential clients and generating data, giving me more time to spend generating new business leads. I am more productive as a result. Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Red Flag Alert?

Real-time information to help reduce time prospecting.

Finding leads can be a challenge and finding leads where you can remove risky businesses even more so - this a real key feature of this platform.

If you work in commercial finance this is the go to system, bar none! Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

It would be nice if there was more video training content. The training from the onboarding team was great but it would be nice if there was an area to go to for refreshers. Review collected by and hosted on G2.com.

Recommendations to others considering Red Flag Alert:

I regularly recommend Red Flag Alert to my intermediary network Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

Ability to identify businesses that need access to finance.

Understanding and identifying what businesses have access to secured finance.

Building a stronger network due to how RedFlag alert can identify businesses based on who there accountant is.

Ability to bridge the gap between sales, risk and credit Review collected by and hosted on G2.com.

Arabella R.
AR
Case Manager
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Red Flag Alert?

We are a small independent insolvency company based in Lincolnshire. Following a series of calls we agreed to a demonstration of the system to see what it may be able to offer us. I must admit at first we were a little sceptical that it was just another sales call, but how wrong we were! The demonstration by Richard was very clean and easy to follow and the information provided from the system was incredibly impressive. I believe Richard provided us with a quote for the system within 24 hours and we signed up straight away, although we were offered further demonstrations if required.

Since signing up the process of getting started has been very straight forward including training and an account manager being provided. Review collected by and hosted on G2.com.

What do you dislike about Red Flag Alert?

It sometimes can be a little unclear on the system when a company has moved from say 1 Reg Flag to 2 Red Flag or how long it's been in that category, although it's not necessary to know this information, as fundamentally the most important information is knowing what category it is in now. Review collected by and hosted on G2.com.

Recommendations to others considering Red Flag Alert:

Red Flag provides you with such extensive information that I would recommend you consider exactly what information you are specifically looking for and how it can be best utilised within your business. Fundamentally its about looking at that data you are obtaining and how that can be used further, whether that be for risk management or lead generation etc., It isn't one of the cheapest softwares out there so you need to ensure your using it to its full ability to get the best value. Review collected by and hosted on G2.com.

What problems is Red Flag Alert solving and how is that benefiting you?

Having not done marketing in the 17 years the company has been going, the information we now gather from Red Flag has enabled us to formulate a realistic growth plan for the future. I strongly believe this information will allow our business to grow considerably over the next 3 years.

It hasn't therefore necessarily solved any problems for our business but it has increased our possibilities. Review collected by and hosted on G2.com.