Searching information sources for deeper insights and better decisions

Encompass Products now include GBR(Global Business Register) and Red Flag Alert as key information providers

With overseas companies registering in the UK and local companies gaining access to new markets by purchasing companies overseas, lawyers and professionals working in insolvency and financial services are increasingly required to investigate and understand any international aspects to their cases and matters. Investigating complex corporate structures, subsidiaries, the global owner and then identifying the ultimate beneficiary can consume hours and days of work on Companies House in the UK and on the company registers of overseas countries.

In response to this demand, this month we add GBR (Global Business Register) as a new data product. As its name suggests, GBR offers an enormous trove of information – similar to connecting to Companies House in 80 other countries and 50 US states. We are taking a phased approach to integrating GBR, and this month we announce support for searching company profiles and officers for Western European countries. As a technology, GBR provides an application programming interface that Encompass products use to search directly each country’s own register. Our customers tell us it is important that they download and search original, official documents from country and state registries, some even refer to these as golden sources of truth. For a list of the company registries accessible from GBR see www.gbrdirect.co.uk/Coverage.aspx. Integration of GBR means our customers can delve into international company structures to navigate down and find subsidiaries and to navigate upwards to find the global owner and ultimate beneficiaries.

 

Introducing global coverage

 

Many insolvency professionals rely on online business information bureau Red Flag Alert www.redflagalert.com as a rich source of commercial information. The Red Flag database includes 3 million records on every business in the UK, from the sole trader through to limited and quoted companies, as well as up to five years’ profit and loss account and balance sheet information, details of directorships, company secretaries and shareholders, legal notices, bank and debenture information. The database also contains full Gazette information on all UK insolvencies, providing a means to track any payments due from an insolvency claim. Professionals in many professions place great value in the innovative system devised by Red Flag to rate the health of a business.

 

Definition:

Companies will be healthy and will have traded for a number of years; they will have financially sound accounts, good payment history and few or no legal notices.

Definition:

A stable and healthy company, which may have traded for a smaller number of years; they will have financially stable accounts, good payment history and few if any legal notices.

Definition:

May not have published accounts or are a newly formed company; if accounts are available they would indicate that this business is an average risk with standard payment history and possible legal notices.

Definition:

Businesses that have passed the lower threshold of the credit score algorithms and are either very new or
display some financial, payment or filing characteristics that make them an elevated risk. They should be treated cautiously and all monitoring notices reviewed carefully.

Definition:

Businesses that have passed the lower threshold of the credit score algorithms and are either very new or display some financial, payment or filing characteristics that make them an elevated risk. They should be treated cautiously and all monitoring notices reviewed carefully.

Definition:

Serious detrimental data has been identified and close monitoring is suggested. They may still have good accounts and standard or poor payment history.

Definition:

Serious detrimental data has been detected and a full review of their account status and close monitoring is recommended.

This month we announce integration with Red Flag Alert which supports search by company – including their health rating – or by person, and helps find CCJs (County Court Judgments), charges, and secured creditors.

Global Business Register and Red Flag Alert join Companies House, Creditsafe, Dun & Bradstreet, Land Registry, The Gazette, and Zoopla as information sources that can be searched and analysed from Encompass products.

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