I was wondering if anyone has looked at Tenon's Tracker and Begbie's Red Flag software/online data and if so if you decided to buy into one or the other, or is there another alternative?
Both are primary for credit rating and tracking Companies House details and changes to clients, suppliers etc.
However both seem very useful for marketing purposes, and seem to have good search facilities to find details of businesses within various parameters.
We subscribe to Riskdisk at present, and although this has a business address list add-on, it doesn't seem anything like as versatile as the Tenons or Begbies products. Having said that it doesn't cost as much either.
Our primary interest in either of these products is from the marketing database perspective, with the credit control and company details side being secondary, although still necessary.
Thanks
Replies (11)
Please login or register to join the discussion.
Used Red Flag
Hi,
We used Begbies Red Flag for exactly the same purpose you want to with mixed results. It is great for getting details on clients/potential clients in post code areas and also there potential size based on what has been reported to Co's House/Credit Agencies.
We stopped using due to the cost and also because once you have the information you need unless there are huge amount of business moving into your area or start ups springing up not a lot will change. Also I was under the impression that Begbies were looking to offload Red Flag, but not sure if this has happened.
Also some of the information available can be limited such as details on sole traders/partnerships and you can in fairness get more from your local yellow pages!
Red Flag & Tracker
Crude method to look at client listings to see who might be a potential insolvency client of the future.
I can't see the benefit to accounants (who are not eithe rTenon or Begbies) in allowing this.
Perhaps I am just synical but beware Greeks bearing gifts!
Tracker
We have just started using Tracker and find it a very effective tool both for tracking companies and unincorporated businesses and for marketing information. It is very good value for money.
Red Flag vs Tracker
I've looked at both systems and I think that they are both very similar in what they do and I think both are pretty good.
Using them as marketing tool, I favour Tracker simply because I think that the combination of criteria by which you can "data mine" is more comprehensive than red flag. To my mind this has saved me some time when I was looking to create marketing groups. For those that have also looked at, or used Fame, I'm struggling to bring to mind what Fame does that Tracker can't (but it has been a while since I've used Fame).
The layout of redflag is probably kinder on the eye than Tracker but that's personal preference and it could be argued that redflag is simpler to use "straight out of the box" but again, for me, there's not a lot in it.
There was a bit of a price differential 12 months ago, redflag being quite a bit more expensive but I think redflag have reduced their prices in the meantime, even so I believe that Tracker is still cheaper but pricing on both seems fairly fluid.
In summary, if it's marketing that you want it for I'd go for Tracker
Fame
Hi
I have used fame and it seems to pick up known published data from Companies House and apply some accounting ratios etc.
It saves some time but it is historic information from which the accounting ratios are derived...how relevant is in my opinion open to question.
Regards
Creditsafe
We use creditsafe - is this similar to the two products mentioned above does anyone know?
Barter with creditsafe
They are very poor negotiators.
I got renewal price down to £400, thought I'd done quite well, then a client told me he'd got it for £250!
If you say you're leaving to go elsewhere they will drop their prices significantly in order to keep you.
I do think the product is very good for credit checks. There is a marketing module which is quite clunky but the information is useful.
More than alerts
It's worth noting that Tracker is a very comprehensive suite, helping with a range of risk-related issues. The Tracker subscription is relatively inexpensive, but the product has been through many stages of development and the facilities offered allow a whole range of options. These extend from RAG alerts, tailored to specific criteria, through to portfolio health ratings and new business list generation. There are excellent data cleansing facilities too, for checking and verifying a portfolio. It makes Tracker well worth a trial.