Our core product aims at improving the data available to businesses. The present day Business Information Service Industry is laden with problems including inaccuracy, lack of timeliness, data that is not actionable and a business model that is broken and does not promote rapidly increasing scale.
Existing B2B credit bureaus and information services rely on objective data sources such as accounting reports, profit and loss statement, balance sheets and credit reports. By definition each of these pieces of information are backward looking and lag current day information dramatically. Additionally, these entities charge a fairly large fee to companies able to contribute more accurate data which is a disincentive to increasing accuracy.
The “credit score” provided by these entities is garnered from a single metric that is derived either from actual payment history or objective data such as backward looking financial statements. Rather than rely on this lagging information, Trust Exchange utilizes a combination of Reputation and Trust to provide forward looking insight into the performance of a company.
B2B Reputation is the sum total of the opinions of a company’s true peers: other companies currently engaged in business relationships whether as a customer, vendor or partner. These relationships are the key to understanding a company’s true performance. The Trust Exchange platform enables you to create categories of companies and track their reputation performance over time.
By leveraging the “smart crowd” of valid customers, vendors and partners, we believe that we can create a metric that when trended and compared with other data can provide alerts that are leading indicators of a company’s health.
Trust Exchange provides a way for companies to increase their Trust by enabling them to directly communicate via their profile, update data directly and invite their key advisors to rate them or certify them on key events such as audits, insurance or other credentials. These certifications can either be one time or recurring depending on the level of Trust desired. For instance, a company that receives and discloses annual audits may be more trustworthy than an company that does not share this information.