Heaptalk, Jakarta — A credit bureau, business information, and credit risk solutions company, CRIF, has performed a strategic partnership with Indonesia’s Export Company Association (GPEI) (11/10).
This cooperation will enable GPEI members to enhance their risk assessments by tapping on CRIF’s risk information platform, SkyMinder, which provides in-depth financial, commercial, and credit information on over 230 million companies worldwide.
SkyMinder, a business information platform powered by CRIF, collects and provides information on companies for reliable credit assessment and credit recommendations. This platform also allows businesses to retrieve credit reports and receive updates on changes affecting companies, a crucial aspect in the evaluation process for both customers and suppliers.
Marking the collaboration with the Memorandum of Understanding (MoU) signing with the CRIF representative, the Chairman of GPEI, Khairul Mahalli, stated, “We are delighted to be partnering with CRIF. Companies must be forewarned of potential financial and trading problems with their overseas customers and suppliers. We observe reporting requirements for companies vary so widely across the world, making it challenging to locate the level of information required to make sound credit decisions. CRIF’s SkyMinder service will provide information of high quality to ensure that our member companies can easily carry out regular checks to limit the risks of exposure to business failures and bad debt,”
Regarding export-import, the Indonesian Government has a vision of becoming the fifth to the seventh largest economy in the world by 2045, one of which is through Indonesia’s national income originating from export and import activities. SkyMinder of CRIF supports the catalyst to ensure that Indonesia’s export and import activities can be carried out effectively, safely, and efficiently by GPEI members. Moreover, Southeast Asia has over USD3.4 trillion of global trade that passes yearly. Thus, Several points need to be considered to reach a smooth transaction.
The Country Director of CRIF Indonesia, Novi Rolastuti, stated, “If we enter international trade without deep knowledge, business players are predicted to experience suffer losses for their business. Thus, I anticipate implementing appropriate steps to ensure business transactions safely, efficient, and effective by performing business risk mitigation and due diligence on exporters and importers. With the SkyMinder platform owned by CRIF, the importers and exporters can obtain credit report information of their overseas buyers thoroughly,”
According to her statement, the world is more interconnected than ever. A more complete and transparent view of business relationships is crucial to managing risk, identifying opportunities, and making better decisions.
In June 2022, around 689 fraud complaints were received in Indonesia through the Customs contact center and social media. Furthermore, a study conducted by an investigative and risk consulting firm, Kroll, in collaboration with the Association of Certified Fraud Examiners (ACFE), on 241 companies in Indonesia from February to July 2021 revealed that 80% of respondents had experienced a fraud issue. Concurrently, this study also indicated more than 80% of respondents did not even conduct due diligence on partners, suppliers, or vendors. Around 32% of them also faced yearly losses of over Rp1 billion.
For this reason, the SkyMinder platform is expected to strengthen the legality aspect verification of international entrepreneurs, ensure transaction security with potential prospects from outside Indonesia, and prevent crimes whose methods and motives are constantly evolving.
