Vayana Network, a leading Supply chain financing platform has partnered with CRIF Solutions India, a global FinTech company and launched Good Business Score(GBS), a tech-enabled tool to support the Micro, Small & Medium Enterprises(MSME) in India to effectively measure and manage their businesses.
To provide the current accurate measure of the business health for MSMEs.
i.The GBS is based on the ongoing GST Data, from parameters like frequency, recency, the value of actual transactions and business dependency across customers are derived.
ii.The score reflects the MSMEs strength, growth drive, and areas of improvement.
iii.A good score acts as a certificate to get new business leads.
ivBy periodically measuring the score, The GBS can be used as a diagnostic tool to make corrections and improvements.
v.The GBS can be accessed by businesses on the Vayana Network platform where the merchant data is secured and confidential.
i.This will act as a point of reference for larger corporates, financial institutions or lenders.
ii.For corporates, this will provide a real-time pulse of the condition of their MSME supply chain partners.
iii.For financial institutions, this will work as an evaluation tool for getting an ongoing pulse of borrowers and support them to predict and reduce the lending risks.
Recent Related News:
On December 7, 2020 Mastercard, National Institute for Micro, Small & Medium Enterprises (ni-msme) and Confederation of Indian Industry (CII) entered into partnership to launch Digital Saksham, a capacity building initiative to drive awareness about digitization for Micro, Small and Medium Enterprises(MSMEs) in India. Under this 3 year project, more than 3 lakh MSMEs will be trained to adopt digitisation.
About Vayana Network:
Founder & CEO– R. N. Iyer
Headquarters– Pune, Maharashtra