On January 2, 2020, the Berlin-based laboratory instrument manufacturer KNAUER Wissenschaftliche Geräte GmbH was awarded the "CrefoZert" credit rating certificate for the first time by the business information service CreditReform.
Managing Director Alexandra Knauer (2nd from left) and her financial accounting team proudly present the CrefoZert certificate (Photo: KNAUER)
KNAUER had to undergo a detailed examination in advance, which not only included an intensive analysis of the annual financial reports of several years, but also the current data from the credit report in order to determine the credit rating index. In addition, the current situation and prospects of the company were evaluated through targeted surveys. "CrefoZert" is known in Germany and internationally as an indicator of the solidity and trustworthy management of a company that has received this award.
According to CreditReform, only 20 thousand of the total of four million companies registered in the business database could currently qualify for CrefoZert at all. That is just 0.5 percent. With "CR 1", KNAUER achieves the best of 19 rating classes distinguished by CreditReform.
"We are pleased that the excellent audit result proves how well KNAUER is positioned in terms of creditworthiness and financial reliability. It is not least our financial independence and flexibility that have made us a reliable technology partner for 57 years," stated CEO Alexandra Knauer.
In business relationships such as the selection of suppliers or the purchase of capital goods operated on a long-term basis, the reliability of the business partner is just as important as product quality and price. Financial instability of a supplier or producer, for example, means a risk to the reliable supply of components or special spare parts needed over the long term. As a result, your own company's well-being also depends on this partnership.
Numerous entrepreneurs have recognized this and use credit assessment services in their business relationships to minimize their risks.
The Schiller-inspired title of this article is therefore perfectly transferable to the business world and does not only apply to marriage, which the poet certainly had in mind.
The CreditReform group of companies provides information on the creditworthiness and financial structure as well as the environment of corporate customers. CreditReform also offers services in the areas of receivables management and debt collection as well as customer and market structure analyses for marketing.