Salentrix Team Ups With Rapid Ratings To Provide First-Ever Risk Assessment Service For Small And Mid-Market Firms
Web-based program reviews and analyzes all major risk categories of a commercial enterprise producing a composite rating at a price point affordable to small and mid-sized companies
New York - To meet the demands for increased disclosure, transparency and accountability for small and mid-market firms, Dan Mitchell, CEO of Salentrix, Inc., announces today the first single-source solution for enterprise risk management that combines the company's corporate governance and business intelligence operations with the industry leading credit risk analysis programs from Rapid Ratings. This industry first, web-based program reviews and analyzes all the major risk categories of a commercial enterprise producing a composite rating report at a price point affordable to small and mid-sized companies.
"This single-source, affordable risk management solution is capable of assessing financial health, corporate governance controls, regulatory compliance and other management risk factors," says Mitchell. "The relationship with Rapid Ratings brings an unequaled level of expertise and experience to the Salentrix holistic risk assessment and management capability. In combination with our business intelligence and corporate governance tools, we now offer a complete web-based product that was previously unavailable."
The new Salentrix offering produces a composite score benchmarked against governance and financial databases, Sections 302 and 404 of the Sarbanes/Oxley act, as well as standards set by CalPERS, NYSE, NASDAQ and others. The composite score provides a comprehensive, easily understood expression of risk associated with an organization that can be used internally to develop and implement prescriptive plans that will reduce the level of risk reducing both direct operating costs and the cost of capital. The composite score provides investors, insurers, lenders, trade creditors and potential directors and officers with a meaningful measurement of risk for decision making.
In addition to marketing this service directly to companies, Salentrix offers this unique risk management service to financial service companies and fund managers. Private equity and hedge fund managers will benefit from the timely information to determine if portfolio companies and equity investments exhibit risk characteristics that can undermine their market value. The reports produced by Salentrix are vital for company management to mitigate enterprise risk and useful for investors, lenders, insurance underwriters, regulators and executive search firms.
"While Rapid Ratings has focused primarily on measuring a company's financial health and its impact on market valuation, we recognize the need for a timely and accurate credit rating system that is integrated with corporate governance metrics for privately held and public companies," says Dr. Patrick Caragata, CEO of Rapid Ratings. "Salentrix addresses these needs and we believe that together we can provide a much needed value added service to an underserved market segment."
SOURCE: Salentrix, Inc.