IFG’s Certification service aims to address the needs of funding organisations to test the expertise and capabilities of factoring finance providers. According to the association, supranational institutions as well as banks and investors can use IFG Certification to facilitate the assessment of factoring finance providers and more effectively allocate their resources (such as grants for capacity building as well as debt/ equity funding) to such providers and thus better serve the interests of SMEs in their target markets.
The process will consist of a set of interviews with the subject company’s staff and a review of relevant documents, processes and systems. Depending on the nature and complexity of the business this will typically require a two to three days engagement.
Certification will be undertaken by IFG via Licensed Advisors and the service will evaluate the subject companies from the key perspectives of strategy, structure, risk management, processes and systems.
Each of these areas will be assessed in terms of expertise and impact, and will be allocated a score on the basis of a 5-level scale (from “unsatisfactory” to “exceptional”) when compared with worldwide industry standards and expectations. The Advisor will identify particular strengths, any weaknesses and opportunities for improvement and development.
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