Credit worthiness check - Solvent Rating provides information on current and potential business partners

The public in Serbia will soon be able to access all relevant financial information on enterprises and their credit worthiness. Every change that may be significant for the solvency of an enterprise will be tracked and made available to the users on the website www.boniteti.rs.

The company Bisnod from Sweden has assigned an exclusive right to distribute its services to the domestic company Solvent Rating. In this way, Serbia becomes the 18th country where the services of this Swedish company are available.

The company Solvent Rating will be the first in Serbia to offer such services to companies. In an interview for eKapija, Pavle Vlajcic, CEO of that company, explains the basic advantages of the new financial product:

- I think that the arrival of this company is very important for the operations in Serbia, as well as for the development of our economy in the future. In this way, our company contributes to the promotion of European business values in Serbia. We are talking about a service that can be used by any company. By using our services, all companies will be able to systematically keep track of their operations. Our users will not have to seek information on their current and potential partners from informal sources. We intend to collect and make all these information available at one place. Our primary goal is to enable easier and more transparent operations - Vlajcic stresses.

eKapija: What does your service include?

- We are offering two packages: basic and business. The basic package of services will provide our users with the access to the registration and financial data of all potential and current partners. Besides, users will have an insight into the history of operations of other companies and the regularity of their payments. The business package also includes static and dynamic credit ratings. Static credit rating is given once a year and it provides a general picture of the solvency of a company. Dynamic credit rating is presented in the form of a semaphore and it is given on a daily basis. Every change or a news that has something to do with a company will affect that company's dynamic credit rating.

eKapija: Do you plan to include some new services in these packages?

- We will soon introduce several services that already exist in other markets. One of such services is Index of Payments, which will show on a scale from 0 to 100 how regularly a company pays its bills. We are also negotiating on the exchange on information with some large companies that have a significant number of customers. Practically, such companies will be providing us with the information on which companies pay their bills on regular basis, based on which aforementioned index will be formed. In addition, we will soon introduce a graphical presentation of companies' business results. There will also be a bankruptcy and liquidation database with the information on all important business aspects.

eKapija: What do you plan to accentuate in this service?

- The accent will be on so-called "quick check". Companies have so far been able to get financial reports within few days, and that service is available in our country from a long time ago. We are now offering our clients to check their partners in a very short time.

eKapija: Where do you get these information from?

- We will be getting information from both public sources, notably government institutions engaged in the trade in business information, and private companies. We will be making agreements with private companies willing to provide information on who they are working with. The clients of our other company - Solvent Point, will be able to affect the credit ratings of their partners. We will be using data from all available sources and all those who are ready to provide us with relevant information.

eKapija: Do you have information on foreign companies?

- We currently have information about companies from Slovenia, Italy, Croatia, Germany, and expect to start receiving information on companies from Austria by the end of the year.

eKapija: Is there some other company in Serbia offering the same services?

- There are several foreign companies that make financial reports for their clients, just like we do, but no other company offers the same kind of information on credit ratings as we do.

eKapija: What will be the price of the service?

- The price of the basic package for the period of one year is EUR 250, while the business package will cost EUR 375 per year. We want to quickly enter the market and attract everybody to start using our services, but not with the aim of rapidly increasing the price of the service once we position in the market. Our aim is that businessmen in our country get used to using this service, as well as that some new products be launched.