COFACE : Excellent SME

Grand Prix 2016 candidature, catégorie RSE

The context of the project: Certification of small and medium enterprises in order to promote successful companies, safe operations and risk control. Creation of a network of excellent small and medium enterprises, their networking and creation of a market for safer operations.

Project description: The certificate is issued if and when the company meets the required criteria: annual turnover of 4 million RSD or more, credit rating of the company 6+ by Coface Serbia. Credit rating score is the result of financial due diligence, which takes into account payment habits, the risks of future business as well as the assessment of the probability of entering into bankruptcy in the next 12 months. The certificate is valid  for one year, and is dependent on the constant monitoring of the financial data of the company by Coface Serbia. The certificate may be revoked if the credit rating score falls below 6.

In cooperation with the Serbian Chamber of Commerce and Industry and Connet, Coface has developed the certification project Excellent SME Serbia in order to support and promote companies from this sector.

A combination of credible institutions in the fields of economics, information technology and the economy in general, has made it possible to create a basis for awarding Excellent SME Serbia certificates.

Resources used (financial, human, internal or external): Financial reports from companies, human resources from Coface Serbia, Serbian Chamber of Commerce and Industry and Connet. Web certification technology.

The main objectives of the project: market transparency, business credibility of certified companies, networking of certified companies, lower business risk, technical protection, promotion, education and training of certificate holders, assistance in commercial activities, solving business problems, etc.

Thanks to the image it gained, the certificate has found its place even outside of Serbia, which allowed holders from Serbia to be more visible in the international markets. This primarily resulted in increased attention when it comes to risk control.   Expansion of certification outside of Serbia: Excellent SME project has been short-listed (entered the top 5) in the competition for the best unconventional project, organized by the Association of Chambers of Commerce worldwide. As a result, the process of certification was adopted in countries across Europe, so it is now being implemented in Slovenia, Macedonia, Romania, Italy, Bulgaria, Great Britain, Spain, Hungary and Montenegro.


Excellent SME web site


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