iCON by Coface: 24/7 Data You Can Depend on to Make Risk Decisions
When it comes to business, it matters who you work with. Choosing the wrong business partner, whether it’s a supplier, customer, or key vendor, can be risky, disruptive, and costly. But how can you see the risk before it impacts your business?
For 75 years, Coface has been a global leader in risk management and trade credit solutions. Building on and leveraging our risk expertise, we’re proud to announce a new business information platform designed to give global insights and risk decisions at the click of your fingers.
Introducing iCON by Coface
Today’s business requires 24/7 access to powerful solutions and data analytics that can help you make real-time decisions. iCON by Coface is a game-changing analytical risk management platform designed to help companies identify, evaluate, and qualify potential customers and suppliers, significantly reducing risk and providing greater protection against insolvency.
Bringing the data together on the iCON platform is the Universal Risk Business Assessment (URBA) dashboard, a visual representation of business insights to help make smarter business decisions.
“iCON is the only solution on the market that combines unique and predictive insights in one place,” said Jeff Anop, Senior Vice President of Coface Business Information in the North America region. “The challenge many businesses face today is trying to see the whole story by pulling together many parts of disparate data. iCON provides the full picture and enables credit, supply chain, and finance leaders the ability to look ahead with unparalleled confidence.”
The high-quality, quantitative and qualitative assessments presented in iCON are derived from global data sets, Coface information, and data gathered by Coface’s team of economists throughout the world.
Experts in risk, Coface global and local specialists collect and analyze economic insights as well as assess political risks and macro business environment conditions that could impact the profitability of a business.
The data insights provided by iCON are so strong they are used in the more than 10,000 underwriting decisions made by Coface every day.
Predictive & Exclusive Data
Predictive data helps companies stay agile and take action before disaster strikes. With iCON, customers can detect a default 12 months in advance, much sooner than our competitors. Our risk assessment accounts for a variety of health indicators, including a company’s credit score, country stability, and sector-specific supply chain information.
Add to this mix Coface’s exclusive and proprietary data sets, including information on payment history; sector and country risk assessments; and scores based on profitability, financial structure, and liquidity, and you’ve got the most comprehensive view of risk available on the market.
Deeply Insightful Data
When looking into a customer or supplier’s viability, you need insights that dig deeper than surface-level financial information.
iCON’s scoring considers Coface’s experience and claims with a company and also qualitative data such as a company’s business environment and management. Most importantly, iCON provides contextualized decisions and answers to business and risk questions. No more digging through data or contemplating analytics. With iCON, you have the clear information you need to make real-time risk decisions.
Continually Updated Data and Monitoring
In today's globalized and interconnected world, business operations often occur around the clock, continuously meeting customer demands, responding to market changes, and maintaining a competitive edge.
No matter what time of day or night, iCON updates scores and opinions as soon as a significant event occurs, whether that event is related to the company specifically or it is on a macro level. iCON also provides immediate, automatic alerts when an event has impacted a score or an opinion on a monitored company in your customer portfolio.
Universal Scoring Methodology for Data
When you are a global business, piecing together bits of data from multiple documents or systems when comparing and evaluating risk information can cause frustration and, more importantly, costly business delays. iCON provides all the latest data in one centralized source: the URBA dashboard. The URBA dashboard allows you to quickly and easily navigate the research and insights presented in easy-to-understand scores and graphic illustrations.
Global and Localized Data
When assessing a potential customer for trade credit, you need to trust that you are getting a full, accurate picture of their financial health. Coface has a global database of information on 200 million companies in more than 195 countries that covers 88 percent of worldwide Gross Domestic Product. Additionally, Coface has boots on the ground in 100+ countries, with a network of 700 experts sourcing local data.
The iCON platform gives you the intelligence you need to strengthen your customer and supplier portfolio, improve business relationships, and boost your growth potential. Start your journey toward trading with confidence today by learning more HERE.