Without a trustworthy source of information, it can be difficult for businesses to assess whether they should engage innew partnerships with customers or suppliers.
And without the macro data to inscribe this knowledge within the currentcontext, risk profiling companies is practically impossible. Through its data solution platform, Coface, leader in tradecredit insurance, provides professionals with the tools to make the right decisions and expand their activity confidently.
What is the Icon by Coface Data Solution Platform?
Whether you need economic insights to assess the level of risk associated with a new partnership, to monitor anymarket evolution that could affect your own business, or to manage your portfolio of counterparties, Icon by Coface offers an all-in-one tool to help you. The data solution platform provides a convenient, easy-to-interpret interface to letyou identify and onboard new commercial partners.
It allows you to receive expert advice on time-sensitive issues and to pinpoint emerging risks with your current or futurepartners.
What does the Platform offer?
The program gives you access to in-depth, full business reports as well as concise, snapshot versions so you can haveall the key figures right at your fingertips. Thanks to Coface Insurance payment experience, cross-border credit and riskmanagement can be automated. Looking up a company on Coface’s database allows you to access key informationregarding the business in question. From its management to its full financial data, all the way to payment experiencefrom third-party sources, trends and figures, and Coface’s credit score. Expressed on a scale of 1 to 10, this lets you seethe organisation’s probability of default within the next 12 months fright from the data solution platform.
The scores in question are known as Debtor Risk Assessment. One of the most crucial aspects of new businessagreements is to know whether the client will be able to honour their financial commitments, such as counterparty obligations. Assessing a company’s financial soundness, profitability, and other factors that influence its financial position can be quite complex. Icon by Coface’s assessment is based on financial statements, key financial ratios, and marketvalue built around industry benchmarks.
All this information allows the data solution platform to provide recommendations. By monitoring key indicators, the dataanalytics engine system can flag any noteworthy changes and provide an accurate account of the financial landscape thataffects your company. Use this advice to invest confidently and make sound strategic decisions.
Identifying new potential partners takes time and know-how, which is why busy entrepreneurs will appreciate theBusiness Finder functionality. The tool gives you access to Coface’s database of businesses – the largest in Central andEastern Europe – which you can use to enrich your list of partners and target groups. It contains general information onthousands of companies, key financials (including total assets, workforce, turnover, etc.) and contact details so you canget in touch easily.
A Data Solution Platform tailored to your needs
Through a system of APIs, Icon Coface offers a fully integrated solution for automated company searches, and gives you instant access to your business reports, credit opinions, scores, and other data in your format of choice. Your portfolio is updated in real time, providing dependable information when and where you need it.
Making the right business decisions in our current economy demands a certain knowledge of several key elementsthat could affect your activity or that of your partners. With political risks and financial uncertainty being at an all-timehigh, performing a compelling financial analysis of a company is a more complex task than ever.
Icon by Coface’s data solution platform can assess the financial situation and level of trustworthiness of your businesspartners and gives you all the facts and figures you may need to steer your company in the right direction. Do not let alack of trustworthy information become a liability and invest in your business’s future by leveraging key data provided bya global leader in trade credit insurance.
