Begbies launches its Red Flag Alert

INSOLVENCY specialist Begbies Traynor is launching its corporate health watch system ‘Red Flag Alert’ onto the commercial market.

Red Flag Alert contains more than six million constantly updated records on businesses throughout the country, and Begbies Traynor said it will “revolutionise the means by which corporate and financial distress” is measured.

Until now, the system has only been used as an internal resource and a source of news and information for the media. . The commercial launch will see it become available as an online annual subscription service, supported by a dedicated Red Flag Alert helpdesk.

The system will now enable company owners and managers to access detailed financial information about their customers, competitors and potential new clients, which can be analysed by region or sector.

Ric Traynor, executive chairman of Begbies Traynor Group, said: “We know firsthand about the business benefits of Red Flag Alert as we have operated and refined the database internally for the last five years.

“It has been of huge benefit to our business and is, without doubt, the most comprehensive database of its kind with millions of records on every business in the UK, from sole traders through to limited and quoted companies.”