May 25, 2024

 Would you like to drive a car whose headlights do not turn on while driving at night?

To move forward is to move forward. You need to see ahead in order to feel safe and that you are traveling together. If you are driving at night, you definitely need headlights.

Business life is like traveling at night. What is in front of you, is the road straight, pothole, or worse, is there a cliff in front of you? You definitely need some tools and equipment to be able to see, or at least predict, the future. Just as you do not want to drive a car whose headlights do not come on while driving at night, you also do not want to be in a situation where you cannot see ahead while managing your business.

This is where some math comes into play. Based on the assumption that “history repeats itself”, if we can understand the past, we can predict the future. For this reason, alarm bells should sound when we observe the occurrence or occurrence of the same conditions by looking at the conditions of adverse events that have occurred in the past. For example, when evaluating a business, lenders use the data of that business to give that business a creditworthiness rating. This rating is actually the probability of that business going into insolvency at a later date. It is a percentage calculated by an algorithm developed from the data of businesses that have had difficulty in paying in the past. To make it easier to understand, this percentage is converted into a note and placed in a cluster of similar ones.

• Credit Rating
In today’s fast-paced business environment, it is no longer possible to do business and give credit only with experience and insight. In the developing technology environment, the collection and storage of data and the calculation of credit score by using this data with analytical methods have become very easy.

Credit Registration Bureau, which provides information to all banks and banks in our country, calculates the credit ratings of individuals and businesses, and financial institutions make their credit decisions according to this rating. Therefore, all individuals and businesses planning to take out loans should pay attention to their creditworthiness and strive to have high credit scores.

• Credit Rating and SMEs In particular, SMEs
, which make up most of the gross national product and employment in almost every economy in the world, but can only benefit from the credit pie, should pay attention to this issue. Managing their working capital well, keeping their accounts properly, and providing transparent and proper information when requested by financial institutions will enable SMEs to get a larger share of the loan pie.

Octet portal enables not only SMEs but also businesses of all sizes to manage their working capital in the most efficient way. With no investment and operating costs. In today’s dynamic business world, SMEs need to benefit from digital infrastructures in order to increase their credit rating by using working capital effectively.

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