Bulgarian companies from all sectors can join ICAP Trade Exchange – the only data exchange network on inter-company payment behavior and credit discipline in Bulgaria. The program is developed by ICAP Group, one of the largest groups offering business services in Southeast Europe, which also has a subsidiary in Bulgaria for 11 years.
The program provides exchange and management of databases, commercial risk assessment, analyses of timely and untimely payments of companies and thus builds a reliable and dynamic online database with information on the payment discipline of the companies, for which the participants in the Program submit data to the Operator (ICAP). Companies with accounts can receive information about the ‘payment health’ of other organizations. Thus, the ICAP Trade Exchange payment register assists companies in developing their receivables management policies and is a tool for accurate measurement of trade risk when working with other companies, risk assessment for investments, etc.
ICAP Group has similar programs in 55 countries around the world. Each register, including the one for Bulgaria, has been developed in accordance with the specifics of the market to maintain an objective assessment of the payment profile of all registered users. In Bulgaria, the register has been working for over 4 years and maintains data on the payment discipline of 170 000 organizations.
ICAP Bulgaria plans to publish the “300 Companies with the Best Payment Profile in Bulgaria” ranking.
ICAP Trade Exchange specifically aims to add the profiles of more startup companies regardless of the sector in which they operate.
About ICAP Group
ICAP Group has a team of 1 300 employees worldwide and is one of the largest groups offering business services in Southeast Europe. The company has subsidiaries in Bulgaria, Romania, Cyprus and Serbia, and after its acquisition by SEEF of Global Finance in 2007 it has become the provider with the broadest scope of business services in the region. The company offers a wide range of services and products that are grouped into 4 major categories: Credit Risk, Marketing Solutions, Management Consulting and Human Resources.