CrimsonLogic has unveiled a new business analytical tool that it says can generate snap-shots of local companies' business performance.
Called Financial Screening Intelligence (FSI), the service screens more than 200,000 businesses registered with Accounting and Corporate Regulatory Authority (ACRA) to deliver bite-sized analysis and business performance rating in areas such as the adequacy of shareholder returns and potential impact on valuation for existing or potential investors, and the degree of risks undertaken as part of its expansion plans.
Based on analytics vendor Vector Scorecard's AI engine, the service is available via CrimsonLogic's online business resource BizNet-Global.
Currently, organisations have to rely on credit reports to get an overview of a company's business performance. Although these credit reports provide in-depth details, they do not provide snap-shots to help drive quick business decisions. It is also more expensive and longer (three to five days) to get such reports produced.
Depending on the types of FSI reports, promotional prices (till end of 2012) will range from S$8 to S$28 with a one day turnaround. The service will be available to BizNet-Global subscribers from 1 October 2012.
"Having the right market intelligence at your finger-tips can sometimes make a world of difference between a profitable investment and a poor one," said Leong Peng Kiong, CEO of CrimsonLogic. "With FSI, I strongly believe the benefit of this service speaks for itself, and will greatly empower business owners and large organisations to explore more opportunities and also enhance their existing competitive edge."
FSI can be catered for different user groups. Large organisations and investors can sharpen the process of evaluating an investment or a partnership with a particular SME. For SMEs, the reports can help business owners detect early signs of risks and improve productivity in terms of asset utilisation and cost structure.
"The FSI service taps on VSC's analytical engine to benchmark financial data from ACRA to bring an additional source of business intelligence for policy makers; particularly government agencies involved in SME development to formulate more effective business policies and schemes to enhance business competitiveness in Singapore," said Teng Theng Dar, VSC's Board advisor and chairman of its Investments & International Businesses Panel.
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