Grow and save through external business data

Michiel Scheepens
May 9, 2019 - Reading Time 4 minutes

Data is a valuable resource for your business. In fact, external business data on your customers, suppliers, and prospects can be invaluable. After all, it helps you spot growth opportunities, avoid risks, and save time and costs. Yet far from all companies know about the potential of external business data. How do you use this data to boost your business performance?

Grow and save through external business data - Altares

Data-driven work is more than just hype. It is a formula for success that sends you around opinions, guesses, ifs and buts, so that you go straight for your business goals. Because thanks to data you can see through markets and know everything about customers, products, prospects and suppliers. Not surprisingly, data-driven companies perform much better.

Only: how do you find something useful in the flood of data today? An added complication is that you may not even know what you are looking for - because you don't realize what is out there.

Interesting read: Business information as a data goldmine: tools

Data on 500 million companies

What is at least máxible available: external company data. The Dun & Bradstreet database gives you access to company information on 500 million companies worldwide. Think of corporate structures, trade data, payment data, credit ratings, sanctions lists and more.

Chances are that it includes data that you haven't thought about yet, but will come in handy for meeting your business goals. In our white paper ' External business intelligence: grow and save through unknown data gems' we explain 9 ways you can use this kind of data to boost your business. A sneak peek:

Explore new markets

How many companies are there in a region or industry? What exactly do they do? And how big is their turnover? If you know the playing field you're entering, you're much more likely to score with your go-to-market strategy.

Really get to know your customers

Kroon je klant tot koning door hem beter te bedienen. Dat kan door bedrijfsprofielen te completeren met externe bedrijfsinformatie. Daardoor perfectioneer je de dienstverlening en bouw je een persoonlijkere band met ze op, wat leidt tot grotere klanttevredenheid en merkloyaliteit.

Save costs

Do you know everything about your customers, suppliers and prospects? Then you can work much more cost effectively. Internal supplier data can be enriched with activity codes, for example. Does this tell you that you have several suppliers (worldwide) for the same products or services? If so, you may be able to achieve economies of scale by purchasing more centrally. Or: you discover that you buy from several companies in one group. In that case you can sit down and negotiate a favorable framework agreement. Something completely different: real-time credit assessments of existing and new customers, which you can use to prevent having to write off your receivables due to bankruptcies.

Know who you are really doing business with

In the Dun & Bradstreet database, you can consult court rulings, blacklists, sanction lists, lists of politically exposed persons, negative press releases and information about ultimately interested parties. Have you found out that a person or company has been convicted or is on a certain list? Take timely action, so that you remain compliant and avoid fines and reputational damage.

The database: a case study

5 tot 10 procent bedrijfsgroei, eenzelfde percentage mínder oninbare vorderingen en een betere samenwerking tussen sales en finance. Die resultaten haalde de Amerikaanse tak van producent van beautyproducten l’Oréal toen ze kredietbeoordelingen en leadgeneratie uit de Dun & Bradstreet-database gingen gebruiken. Managing director L’Oreal USA S/D Jon Kromenhoek vertelt daarover: “Dun & Bradstreet voorzag ons van de beste leads die we tot nog toe hebben binnengekregen. De meegeleverde omzetcijfers hielpen ons om de leads te prioriteren en toe te wijzen aan de juiste mensen. Door de gedetailleerde informatie werd het sales- en prospecteerproces een stuk eenvoudiger.”

Inexhaustible source for external business data

Credit ratings, new leads, payment data, ratings, media reports: you can draw it all to your heart's content from the world's largest source of external business data:

  • 30.000 bronnen zorgen ervoor dat de bedrijfsinformatie over de 500 miljoen ondernemingen in de Dun & Bradstreet-database op ieder moment compleet is;
  • 5 miljoen dagelijkse updates verzekeren dat je er real-time actuele informatie uit kunt halen;
  • 2000 geautomatiseerde controles plus een aantal handmatige onderzoeken maken dat alle data is geverifieerd;
  • 1 million dollars is invested every day in maintaining the database.

Impressive numbers, aren't they? Yet they are not meant to impress you. But to guarantee you that all external business data about your business relationships is complete, accurate, current and globally consistent 24/7. And so your company discovers growth opportunities, avoids risks and saves costs.

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