Founded in 1970, Staffmark is one of the largest staffing companies in the U.S. The company boasts more than 300 locations in 31 states and became part of the Recruit group of companies in 2011.
The Challenge: Streamlining the Quote-to-Cash Cycle with the Right Customers
Like many large companies, Staffmark had a wealth of customer data but no clear way to turn that data into insight. In particular, the company needed a more global and unified view of its customers to enable rapid closings with the right customers, a more streamlined quote-to-cash cycle, more limited risk exposure and better fraud detection.
The Solution: Dun & Bradstreet Risk Management Solutions
Staffmark answered its challenge by leveraging Dun & Bradstreet’s powerful Risk Management Solutions. More specifically, the Business Credit Reports and DNBi platform with add-on modules were instrumental in Staffmark balancing its risk exposure to maintain a healthier cash flow. Now, credit investigation through Dun & Bradstreet is a key part of Staffmark’s sales process.
The Results & ROI: More deals with the right customers
Dun & Bradstreet equipped Staffmark not only to speed up its rate of deal closings, but to ensure the company closed with the right customers. Enhanced sales and finance collaboration, centralized insight and better visibility into risk and opportunity were additional byproducts of the relationship. Moreover, Staffmark:
- Improved the quote-to-cash cycle by an estimated 5 to 10%
- Decreased bad debt by an estimated 5 to 10%
- Increased business growth by up to an estimated 5%
- Increased operational efficiency by an estimated 5 to 10%
Achieving a holistic view of customer behavior isn’t easy, but Staffmark was able to improve the quality of its credit decisions and drive its operational efficiency by partnering with Dun & Bradstreet.