If you’re reading this, it’s likely because you have just seen your Oze Business Score and you are curious about it. The Oze Business Score is our latest innovative feature designed to help businesses grow and succeed. At the end of this article, you should understand what the Oze Business Score is, how it works, and how you can improve or maintain yours.
Banks and financial institutions traditionally have internal systems that they use to evaluate businesses, especially when they apply for loans. These systems include credit scoring, financial statement analysis, risk management practices, and more. However, businesses applying for loans don’t often know what is happening behind the scenes. If a loan application gets rejected, you may not get clear enough feedback on what to change to improve your chances next time.
The Oze Business Score is a simple, innovative score that is designed to give you a clearer picture of your business’ performance. It is a comprehensive metric that reflects the overall health of your business based on your use of the Oze app and also gives you insight into how Oze views your business.
As the Oze Business Score is an important project, we will be rolling it out slowly over the next few weeks. The first version of the Oze Business Score, which is what you have seen, focuses on the most fundamental aspect of business management — consistent bookkeeping. By tracking whether your business has recorded transactions every week, the Oze Business Score offers an initial glimpse into your business’s operational health.
Our current scoring system uses 8 scoring bands. The table below shows how you can interpret your business score.
|Oze Business Score
|Business Health Interpretation
In future versions, the Business Score will focus on more aspects of your business health, including your use of Product & Services (Inventory), your Business Profile, and even your business profitability among other factors.
The Oze Business Score is not yet available on the Oze app. However, it will be sent to active businesses on Oze alongside other communications including the Weekly Transaction Report and Outstanding Balance Report. You can check your current Oze Business Score by checking your most recent email.
There are a few ways the Oze Business Score can be valuable to you, including:
Maintaining a good Oze Business Score is synonymous with maintaining good financial health for your business. Right now, the only way to improve or maintain your business score is to ensure that you record transactions every week. Make sure your financial records are up to fate so you can get even better insights in the future. As the score evolves, we will provide more information on other things you can do to improve it.
While the first version of the Business Score focuses on transaction recording, we’re committed to evolving this feature. Future versions will incorporate a broader range of indicators to provide a holistic overview of your business’s health, encompassing financial stability, growth metrics, and more.
We understand that your business is more than just numbers. It’s a dream, a passion, and a livelihood. The Oze Business Score is our latest tool to help you nurture that dream, making business management simpler, more informative, and ultimately, more successful.
Have questions about your Oze Business Score? Send an email here: email@example.com