Ymens has partnered with Creditreform to offer Ymens Credit Report, a business solution providing companies with information on their existing and possible partners’ payment history and solvency, according to a company press release.
The application addresses a growing market share, in the context of an unstable economic environment and increasing cases of insolvencies and defaults. Romania registers a high volume of insolvencies, with two companies ending their activity for each new company launch, according to data from the National Trade Register Office. Furthermore, even though payment incidents have dropped by some 24 percent in 2015, the median value of such an incident has reached a new peak, at RON 113,000, according to the Central Bank.
“Partnerships are essential for developing a sustainable business economy. In this context, a correct evaluation of partners and establishing a solid relationship of trust on the long term is one of the main priorities of companies. Through the Ymens Credit Report solution we aim to offer our customers an overview of the collaborating organizations for a higher level of predictability of business and financial information in real time to accelerate decision making and streamline operations. Ymens’ cooperation with Creditreform also contributes to the company’s strategy to offer a broad portfolio of customized cloud business solutions to meet the needs of Enterprise and SME segments,” said Alina Georgescu, Ymens sales director.
The Ymens Credit Report includes over 700,000 companies in Romania and can evaluate payment behavior based on over 60 economic indexes, such as the company’s age, the industry, company size and dynamics of financial results, liquidity or liability that shareholders hold in the company.
Ymens is a cloud solutions broker offering companies the option to externalize their IT infrastructure to the cloud and a varied range of IT solutions. The Ymens cloud technology platform has been developed following an investment of EUR 1 million.
Creditreform, a German risk management company, has been active in Romania since 1991 and offers information on company payment history and solvency.