Dun & Bradstreet Data and Credit Scoring in NetSuite Provide Business Insights and Analytics to Optimize Business Relationships
Today’s CXOs are focused on one thing... how to leverage new systems, data, and processes to drive profitable growth. And their teams have the same charter.
But the big data wave is testing data stewards with finding ways to resolve the data quality conundrum – how to quickly and cost effectively identify and eliminate duplicate, inconsistent, out of date, and incomplete information – all which can lead to inefficiencies and poor customer or vendor management decisions. Finance professionals in particular need access to quality data and custom analytics to assign best-fit credit limits for profitable customer relationships, while maintaining good cash flow from on-time payments.
"Dun & Bradstreet is well known for trustworthy commercial information with a breadth and depth of commercial data on businesses that cannot be found anywhere else," said Scott Derksen, Sr. Director of Business Development at NetSuite. "This alliance is a game changer for the mid-market as it provides data and insights previously only feasible in the enterprise segment which transform and speed up business processes, empower decisions, and create competitive advantage for our mutual customers.”
NetSuite has partnered with Dun & Bradstreet to provide businesses of all sizes with real-time, native access from within its cloud-based business management suite to Dun & Bradstreet’s global company data and the DNBi credit management platform, streamlining both data management and credit decisioning processes.
With access to the world’s largest commercial database of over 280 million public, private, and small businesses, including more than 1 billion accounts receivable records, NetSuite customers can gather actionable, dynamic insighst as the basis for key decision making and to discover their most valuable business relationships. Read more about The Data Relationship Imperative here.
Dun & Bradstreet Data Management for NetSuite
With master records established within NetSuite, people across the organization see full picture insights about their business relationships to make confident decisions, faster and profitably. NetSuite customers eliminate and prevent duplicate records, search and create unique new party records, enrich records with critical business data, see corporate hierarchy ownership, and receive notifications when specific data about a business changes.
Businesses who use Dun & Bradstreet as part of their data management strategy have realized 46% better lead nurture and marketing campaign management, 29% more closed deals from marketing leads, and 10% improved revenue performance.*
DNBi Risk Management for NetSuite
Credit management inside NetSuite helps credit teams make fast, consistent and responsible decisions, and partner with sales to grow profitably. Customers access DNBi, Dun & Bradstreet's flagship risk management solution, in the NetSuite workflow to combine company policies with Dun & Bradstreet insights, validate, prescreen, and make instantaneous credit decisions, and create customizable decision scorecards.
Businesses who use Dun & Bradstreet credit data have on average decreased days sales outstanding by up to five days, reduced resources requirements by 74% with automated approvals, and captured 70% of dollars at risk in 20% of their receivables portfolio.**
Both of these solutions for NetSuite are built on the powerful and flexible NetSuite SuiteCloud Development Platform.
* Source: Customer Data Management Study, Dun & Bradstreet 2015
**Based on Dun & Bradstreet analysis.