PurplePatch is a unique consultancy providing a service to credit risk professionals that goes beyond just comparing information products and suppliers. Backed by 50 years of experience working at organisations such as Dun & Bradstreet, Equifax and Experian in senior leadership positions, we offer our services at little or no cost.
We provide you with complete pricing transparency and the peace of mind that comes from choosing the most beneficial products at the best prices.
As technology and the diversity of risk information available to you continues to evolve, the provision of products and services has never been better. With such a diverse, competitive and global marketplace many businesses do not get exposure to all that is available and, importantly, there are many instances of vastly different pricing for similar products and volumes with the same provider.
PurplePatch operates independently, offering genuinely impartial and unbiased advice in the credit risk information marketplace.
Through our knowledge of the UK and International markets we are able to provide a holistic view of available products and pricing and offer a smarter alternative than just dealing directly with the bureaus.
PurplePatch provides you with an up-to-date view on the best pricing available from your current supplier (benchmarked against what they are charging other clients), and we also include a competitive view on pricing from alternative suppliers. This has proved invaluable in renewal negotiations for many customers and, on average, the resulting reduction in cost has been between 25% and 40%.
We are here to inform and strengthen your decision as to which information products best fit your needs and to help you negotiate the best prices.
PurplePatch offers a range of services designed to support and ensure credit professionals get the best advice on products and prices currently available in the International credit risk information marketplace.
We will gain an in-depth understanding of your requirements and then research the market using our wealth of experience to make recommendations on products, providers and pricing specifically suited to your business needs.
PurplePatch also offers additional consultancy in areas such as benchmarking, market rate evaluation and managing the supplier negotiation process.
Free consultancy includes:
- Gaining an in-depth understanding of your specific information requirements
- Researching product and supplier alternatives
- Recommending a shortlist of alternative information providers
- Supporting you in the decision making process post presentations
- Confirming that you are receiving best market rate from your existing supplier
Additional fee based consultancy includes:
- In depth pricing analysis on existing supplier services and competition
- Involvement in the negotiation process to optimise savings
- Benchmarking service costs, licence and maintenance fees for software and decision platforms
- Managing supplier presentations and aiding the selection process
- Compiling requirements documentation to support supplier selection
Inform suppliers of PurplePatch engagement
Consultation meeting & research potential solutions
PurplePatch makes supplier & pricing recommendations
Preferred suppliers' presentations & pricing proposals
Decisioning & price negotiation support
At PurplePatch we think about the information marketplace differently. 50 years of experience working in senior leadership positions at organisations such as Dun & Bradstreet, Equifax and Experian has not only given us a great understanding of the products and data available in the market, but also an internal and external view of sales practice and pricing in this highly competitive marketplace. We leverage this advantage when working with our customers to ensure they receive the best products, service and price.
Nick Frazer has served over 30 years in the credit risk information industry working from sales management to board positions of Dun & Bradstreet, Equifax and Experian. With a successful history in sales and general management, Nick is also strong in strategic planning and execution.
Nick Green has over 20 years in the credit risk information industry, 9 in senior leadership positions including Head of Sales at both Equifax and Experian. A highly experienced leader with a twenty year record of success working with organisations across both vertical and mid markets.
"Anixter have recently worked with PurplePatch in support of a Review of our Credit Agency suppliers. With their considerable experience and knowledge of the industry we were able to identify synergies between Anixter's requirements and supplier offerings, which saved us a considerable amount of our own time & effort to narrow down our selection."
"Having just completed a review with PurplePatch, I can highly recommend this excellent service. Time saving, unbiased and a great idea - can't believe no one has come up with it before!"
"It has been a real eye opener into the world of credit reporting agencies. With the guidance of PurplePatch's expert and independent advice we have not only saved money on our yearly agency cost we will be making huge savings on our credit insurance costs as we now have access to a better quality of international credit reports. I will be working with PurplePatch on every renewal now and have nothing but praise for them."
"Having known the guys at PurplePatch for many years now, I am really pleased they are using their expertise and offering this innovative broker model that will make a huge difference and add real value to their clients."
"Gaining the upper hand in any negotiation has everything to do with the knowledge you bring to the table. Purple Patch's advisory services are first class in this regard and certainly gave my organisation the inside track on our recent bureau negotiations. Sharing swathes of relevant industry knowledge and insight on a sector that has become a true minefield to navigate, Nick and his team have very quickly moved themselves into my trusted advisory group. Their support has helped me best evaluate my options and to go on to realise substantial savings in our recent credit bureau negotiations. I would have no reservations at all in recommending their services. Thanks guys, great job."
Why should I engage with PurplePatch?
We are truly independent and unbiased and will make sure you are getting the most out of your data with total visibility of the market and the best prices available.
Does PurplePatch handle consumer risk and marketing in addition to commercial risk and background checking?
Yes we do as our expertise spans all consumer and commercial information solutions.
What experience do you have that can help?
We have 50 years of combined experience working for three of the largest Global Information Providers in sales and senior leadership positions.
What can we expect from PurplePatch?
An in-depth understanding of your needs, followed by a thorough research of the market. We will make trusted product recommendations and help with negotiation to ensure transparent pricing.
Can PurplePatch help if we stay with our incumbent supplier, and how are you rewarded?
If you are intending on remaining with your incumbent provider, PurplePatch will research the market to ensure you are receiving a fair market price for the products and services supplied. Based on our advice and recommendations, and only when you receive a reduced rate for your renewal, a fee will be levied of up to 20% on any savings you make against your previous contract.
If you do not receive a reduction in spend, PurplePatch services will be free of charge.
As an alternative to the percentage of savings model for the market and pricing research, some clients prefer a fixed consultancy charge for PurplePatch services.