ethosBUSINESS, a member of ethosGROUP, announces its strategic partnership with Teiresias A.E., the Credit Bureau of Greece, as a commercial partner for the TSEK business platform (tsek.tiresias.gr). This partnership enables businesses of all sizes and sectors to access the TSEK platform and the full suite of Teiresias services for assessing the creditworthiness of their credit-based counterparties – through ethosBUSINESS. ethosBUSINESS supports businesses in identifying the right Teiresias services for their specific needs, in subscribing to the TSEK platform and in making effective use of it.
Teiresias and the TSEK business platform
With over 30 years of expertise in collecting and managing credit information, Teiresias operates the most reliable and up-to-date database of financial behaviour in Greece. Through the TSEK platform, businesses can access financial behaviour data on companies and, under specific conditions, on individuals (freelancers, sole traders and private individuals) from the Teiresias database. They can also access parsed balance sheets and company announcements filed with the General Commercial Registry (GEMI), financial ratios, sector data and both basic and detailed credit reports in PDF format.
The TSEK platform also enables continuous monitoring of the financial behaviour of selected natural or legal persons through an Alerts system notifying the user immediately – by email or upon login – of any change in financial behaviour data or of newly parsed balance sheets and GEMI announcements relating to those specific persons.
The TSEK Bi report: Immediate assessment of default probability using the Teiresias index
The TSEK platform also provides the TSEK Bi (Business Index) report which presents the Teiresias index for estimating the probability of a company defaulting on its obligations within a 12-month horizon, on a scale of 1 to 9, based on its published balance sheet data. The report provides an analysis of the main factors driving this index and benchmarks it against companies in the same sector, enabling a fast and well-informed assessment of credit risk.
International economic reports for businesses with cross-border activity
For export-oriented businesses that need to evaluate partners and customers outside Greece, the TSEK platform offers, via Creditreform, International Economic Reports on companies headquartered in 89 countries worldwide. These reports include, among other elements and where available, a Creditreform solvency index, a credit rating, a recommended credit limit, payment behaviour, default data and turnover and headcount figures for the past five years.
Instant Credit ID: An immediate credit picture of the customer, with their consent
The Instant Credit ID service is aimed at businesses that transact directly on credit with their customers and wish to obtain a concise yet comprehensive picture of their financial behaviour – reliably, immediately and transparently. With the consent of the customer – whether a natural or legal person – both the business and the customer receive a report that includes the customer’s creditworthiness rating based on the Teiresias Credit Score, information on active and closed credit facilities and any default data (unpaid cheques, bankruptcies, etc.) as currently recorded in the Teiresias files. The service is available via API or through the TSEK platform.
ethosBUSINESS as the gateway for Greek businesses
The partnership with Teiresias is part of ethosBUSINESS’s strategy to represent specialised, high-value services that help businesses in Greece make informed decisions for sustainable growth and reduce their exposure to bad debt.
For further information: Teemu Lehtinen, Director, ethosBUSINESS Tel.: (+30) 6943 29 95 38 E-mail: lehtinen.t@ethosmedia.eu