Our Benchmarking Service
PurplePatch offers a range of services designed to support and ensure credit risk and procurement professionals get the best advice on products and prices currently available in both UK and international credit risk information marketplaces.
We work alongside your credit risk and procurement teams to understand your requirements and then leverage our experience to make recommendations on products, providers, and pricing specifically suited to your business needs.
Even if you have a preferred supplier, to lower credit bureau prices and negotiate a fairer deal, we recommend data benchmarking for leverage. Creating complete transparency and showing you what credit data is available on the market and the prices others are paying, we can support you in two ways:
Phase 1: FREE in-depth benchmark analysis of your current spend
Behind the scenes, we support by:
- Providing pricing benchmarks - for free (and under NDA)
- Identifying inflated charging with minimal effort required by you!
- Pinpointing low hanging fruit
- Providing a view on potential savings
- Identifying strategic decisions that could be considered
Phase 2: Achieve the best price
Once we've highlighted cost savings and you choose to instruct us, we provide the following services on a 25% share of save commercial model:
- Evidenced-based target pricing for each search and product
- Support at each step of the negotiation process and escalation
- The right to use the PurplePatch name in negotiations (remember, the Bureaux know we know)
- Ensuring flexible, beneficial commercial terms (shorter contract commitments, carry forwards, minimum spends etc.)
- Multi-bureau pricing models
- Additional data sources to be considered
- Optimised licence, hosting and maintenance fee arrangements
- Identification and monetising under-usage
Our Process
We map out existing data sources and what you're paying.
Compare to others with the same supplier and footprint.
Highlight potential savings and recommend target pricing.
Provide support and levers throughout each iteration of the negotiation.
Provide support and levers throughout negotiations.