Shred-N-Go Learns the Value of Monitoring Financial Health

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Posted May 28, 2015 in by Argos Risk 

The Challenge: Not knowing the inaccurate information showing on their credit profile

Lack of Having a Current 360° Business Profile Results in Lost Opportunities

Shred-N-Go is a commercial shredding company that travels all over Minnesota and western Wisconsin, helping its customers comply with regulations regarding the proper disposal of customer information. Owner Mark Suppes notes that his rise from one truck and three employees ten years ago to five trucks, 12 employees and 4,200 customers today is a direct result of stricter governmental policies. “Legislation drives our business,” he said. “It gave birth to an industry.”

Providing excellent customer service and staying on top of his own bills, Suppes thought Shred-N-Go was a model company for others to do business with. It came as a shock when he submitted a proposal to a potential bank customer in the spring of 2012 to provide shredding services to them, and the bank rejected him because of a high risk assessment they’d conducted.

“I was mortified,” Suppes said. “I had no idea. We’d gotten a D&B number assigned to us so that we could do business with the State of Minnesota back in 2004 and I never paid any attention to it. I never looked at the credit side of it.” He knew his company was solvent — but what he didn’t know was that there was a lot of inaccurate information showing up on his credit profile.

When he asked his potential bank customer for more details, he learned that they used a risk monitoring system called Argos Risk Surveillance, which showed numerous concerns. Unfortunately for Suppes, there were several other businesses like his with a similar name around the U.S. that had been mistakenly attributed to him via the normal credit rating channels. That led Suppes to contact Argos Risk to learn what he could do to update his profile so that others could see his business more accurately.

"Argos Risk Surveillance is a wonderful risk management tool. Not only can I monitor my own financial health but I can also get actionable insight on my competitors that I can use to expand my business." - Mark Suppes, Owner of Shred-N-Go

The Solution: Argos Risk Surveillance

That phone call opened Suppes’ eyes in many ways. First, he realized he needed to be much more aggressive in monitoring his own financial profile. Second, he learned that Argos Risk Surveillance could be the very service he needed to do that. “I called them, and I wasn’t happy about how my company looked to the world. Not only did they help me sort out what had happened — and I wasn’t even a customer yet — but they helped me get my credit profile fixed, and then supported me with my potential bank customer.”

He also appreciated the customer service side of Argos Risk, which helped him get his company profile back on track. “I give them a lot of credit. We were neglectful in minding our credit and financial health but now we have Argos Risk Surveillance and can be much more proactive,” he says.

He also likes how easy Argos Risk Surveillance is to use. The system has an online dashboard that functions via a simple “stoplight” methodology:

  • Green: the customer’s financial health appears stable and healthy
  • Yellow: the company has some scores that indicate they need to be watched more closely for both an upward and downward trend
  • Red: warning that merits immediate attention

SHRED-N-GO Uses Argos Risk Online to Monitor and Leverage Competitors Information

Shred-N-Go Uses Argos Risk Surveillance to Monitor and Leverage Competitors Information

Suppes has become a big fan of Argos Risk Surveillance, using it both to monitor his own credit profile and to keep tabs on his competitors. The extensive information provided by Argos Risk Surveillance gives him insights into the financial and business health of his competitors when approaching another company about consolidating. “With Argos Risk Surveillance, I can see which companies are ripe for picking — and when we show them their score, there’s not much pushback,” he said. “They know we know. It disarms them and gives us credibility and leverage during the purchase transaction. We bought another company in 2012 based on insight I received from my Argos Risk Surveillance service, and I’m monitoring others for potential purchase now, too,” he said.

He recommends Argos Risk Surveillance to any company that needs monitoring assistance because, as he’s learned, that need may be more urgent than you think. He is already thinking ahead and planning more services around his core business.

CLIENT PROFILE


Shred-N-Go
Wayzata, MN
(763)551-4800
www.shredngo.com

Shred-N-Go was founded in 2003 and quickly rose to become one of the top three shredding service providers in Minnesota (along with service in western Wisconsin).

Shred-N-Go, Inc.’s. mission is to provide the most secure, cost-effective, on-site mobile document destruction service available in Minnesota and western Wisconsin. The company is locally owned and independently operated, and also functions as a virtual company. Shred-N-Go utilizes high-speed Hammermill shredding systems throughout their fleet to give its clients only the utmost in security and efficiency.

The business has grown extensively with the addition of legislation, requiring businesses to manage disposal of customer information to certain standards. Businesses that are most carefully scrutinized, including banks, health care organizations, and legal companies, are an important part of Shred-N-Go’s business mix. These companies have stringent requirements to be met, and Shred-N-Go keeps on top of the legislation to provide them with the secure disposal they need.

This interview was conducted in 2013

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