Veda announced the acquisition of Corporate Scorecard, an independent provider of quality financial and supplier risk assessments.
Corporate Scorecard (CSC) has been in business for over 30 years providing high quality and dependable financial viability and risk advisory services to Government and private enterprises, with a core competency in financial viability assessments on entities involved in Government contracts and major infrastructure projects for much of that time.
Corporate Scorecard provides a wide range of services including:
- A broad range of financial viability assessments
- Commercial, financial and risk advisory services
- Industry benchmarking
- Supply chain research
- Credit ratings and risk assessment platforms for wholesale clients
Veda CEO, Nerida Caesar, said “We chose Corporate Scorecard because of its strength of procurement risk solutions which have strong market appeal. We have made significant investments to our commercial credit and supplier risk portfolio in the last 18 months and this targeted acquisition further accelerates our very strong market position. Corporate Scorecard will now be able to leverage Veda’s data intelligence and insights making this acquisition a ‘win-win’ outcome for both parties”
The acquisition of Corporate Scorecard was very targeted and is a natural fit with Veda’s existing commercial credit and supplier risk portfolio and synergistic with our credit analytics capabilities. Procurement and credit utilise similar data sets, technologies, staff and resources and in many cases customers. CSC will not only help Veda increase its reach within the government sector and other key verticals, but over time also offer better financial risk assessments to existing customers looking to manage their credit and/or supplier risk needs.
Corporate Scorecard is also the only independent online provider of Business Information Services that has a Financial Services License to provide Credit Ratings in Australia under its new regulations. This capability will complement our market leading credit analytics capabilities.
Corporate Scorecard’s founder and Managing Director, Graeme Gribben said “We see Veda as a natural home for our businesses. Veda’s committed and intelligent approach to strategic growth in this space will help to grow and invest in the future development of Corporate Scorecard’s services to ensure we are delivering the best possible solutions to our customers.”
Source: Veda Advantage