25 May 2011 17:13

Interfax Due Diligence Index receives D&B Worldwide Network award

MOSCOW. May 24 (Interfax) - The Due Diligence Index, developed by the Interfax Group, has received the annual Prize for Excellence in Innovation, awarded by D&B Worldwide Network, which brings together business information suppliers from dozens of countries.
Participants at the annual D&B Worldwide Network meeting in Istanbul voted for the winner.
Most of those attending the meeting said the index meets the real demands of the Russian business community. The index has also received high praise from foreign companies working in Russia during the last few months.
Interfax compiles the Due Diligence Index based on information from its SPARK system to screen companies for reliability. The index is measured from one to 100 points. The higher the figure, the greater the probability is that the company in question was established for purposes others than those stated in its charter, as a transaction unit having no significant assets or that it is a discarded asset.
The Cost Management Institute, a leading Russian analytical center in the sphere of modern economic and mathematical models, was the Interfax partner in developing the new scoring pattern for SPARK.
The model was developed with due account for international experience and was based on a thorough analysis of various factors that may serve as indicators of the unreliability of a company. Various mathematical methods of handling these factors were tested.
D&B Worldwide Network includes the American company of the same name and its international partners, which include Interfax. The network covers all countries and its database contains the names of more than 200 million firms. The system enables businesses to analyze credit risks, check their partners and conduct marketing on a global scale.
The meeting in Istanbul was attended by the heads of companies like Altares (France), Bisnode (Scandinavia, Germany, Central Europe), Cribis (Italy), D&B SAME (Middle East, Africa), Informa (Spain, Portugal), ICAP (Greece, Bulgaria, Romania), Finar Enformasyon (Turkey) and information companies from Indonesia, the former Yugoslavia, Thailand, China, South Korean the Philippines and others.