Asseco SEE Croatia received solvency excellence certificate
Asseco SEE Croatia is among top 10 Croatian companies with solvency excellence rating AAA.
Asseco SEE Croatia is among top 10 Croatian companies with solvency excellence rating AAA. Companies with excellent solvency operate above average and it is less likely that their transaction account will be frozen next year. To get excellent solvency rating a company must meet the following quality standards:
- The company must be older than 3 years
- It needs to have at least one employee
- Company's total revenue needs to exceed HRK 350,000
- The company needs to have at least HRK 100,000 capital
- Company's net profit margin needs to be at least 3 %
Above all, this excellence certificate is a testament of years of systematic and quality work that puts the recipients of this award at the very top of the national economy, right beside the companies from the European Union since the same rigorous and proven criteria apply. For companies with solvency excellence rating AAA, the estimate of the probability of account freezing in the next year must be below 1.5 %.
Certification is the usual practice in international environment and it serves companies to additionally enforce their reputation and trustworthiness in national and international business environments. Certifying companies (solvency excellence) is a long international practice, ensuring good reputation and a competitive edge to certificate holders compared to other companies from their industry. At the same time it confirms to their clients or partners the safety of doing business with them, both from the aspect of financial capability and from the aspect of responsible operation. Holding a Solvency Excellence Certificate is also important in practical use when proving your qualities and competitive ability to stakeholders, potential partners. In promotional activities, when putting in offers and developing various partnerships such a document represents an excellent additional reference.
The methodology of solvency excellence classifies business entities according to success and liquidity criteria into several solvency classes. Certifying companies (solvency excellence) is an international business practice, ensuring good reputation and a competitive edge to certificate holders compared to other companies from their industry. At the same time it confirms to their clients the safety of doing business from the aspect of financial capability and from the aspect of responsible operation both.
Solvency excellence certificate is based on the analysis of financial statements for the last year and forecasted success in business for the next 12 months. The analytical method of calculation is unique for all European markets and it is based on official annual financial statements of business entities. Solvency Excellence Certificate is one of the most important European standards defining the quality of business operation and, in other words, it is an internationally recognized mark of a business entity's economic excellence. Certification of the best companies in Croatia carries special significance from the perspective of the upcoming accession to the EU since additional "doors are opened“ to companies holding the certificate to do business on the EU market.