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The value of corporate intelligence service market in Romania neared 10 million Euro in 2020, and approximately 10% of companies access such services, when they are involved in a transaction, whether it is about a merger, or an acquisition, shows a Corporate Intelligence Agency analysis, published on Monday.
"Corporate intelligence means, before all, a priceless help for local, foreign investors or for newcomers, who are not familiar with the market where they wish to grow, and who want to understand the key components which characterize a solid market. It is a support market, dedicated exclusively to the business environment, which aims to streamline the developing processes and to maximize risk protection. Becoming a key component for many large companies, the value of the corporate intelligence local market has neared 10 million Euro last year, against the background of the growing interest for such services, in the context of the professionalisation of the business environment and the awareness that information delivers knowledge and represents a useful and important tool in the decision making process. In Romania, customers who specifically use these types of services are multinational companies from retail industries, investment, banking, production, pharmaceutical, IT, oil & gas, construction, logistics, insurance, telecommunication," the quoted source mentions.
According to the specialists, companies that are accessing corporate intelligence services do it out of the need for knowledge in relation to situations, persons or companies of interest, necessary knowledge within the decision-making process at the level of the company, Agerpres informs.
Another client category is interested in improving the risk management and compliance systems and are facing potential internal frauds, who risk jeopardizing their reputation and heritage.
"In the last 3 years, the corporate intelligence market in Romania has known a much wider openness to foreign investors and to those companies who are navigating through complex operational processes, through a multitude of collaborators and competitors. It is still far from the mature markets in the West or the Anglo-Saxon space. Here, corporate & competitive intelligence companies have a long tradition, some having a history of 20-30 years, others are listed on the stock market, have offices opened in big financial centers, in London, New York, Zurich, Dubai, etc. Furthermore, the majority customers of profile companies are entities listed on the stock market, where the brand's reputation is sometimes worth more than a financial loss," according to the specialized analysis.
