Founded in 1983, Teknion LLC designs and builds innovative and award-winning office furniture. The company calls Mount Laurel, NJ, home and boasts showrooms around the world.
The Challenge: Driving Growth With Data / Analytics
Teknion faced the monumental challenge of getting a better handle on its customer data. Without the right analytic solutions, the company would struggle to strengthen its quote-to-cash cycle, limit risk, contribute to sales growth and establish a more unified customer view.
The Solution: Quicker Credit Decisions With Risk Management Solutions
Teknion partnered with Dun & Bradstreet to leverage its Risk Management Solutions to address its challenge. Chiefly, it utilized Business Credit Reports, Country Risk Reports and DNBi to arrive at credit decisions more quickly and accurately. The data and analytics capabilities additionally enabled Teknion to more effectively establish credit limits and monitor global accounts.
The Results & ROI: One-Stop Shopping For Customer Information
Thanks to Dun & Bradstreet’s Risk Management Solutions, Teknion uncovered new profitability by closing more deals with the right customers. In turn, this led to an enhanced quote-tocash cycle, increased operational efficiency, reduced bad debt and a global view of customer relationships. In addition, Teknion achieved better collaboration between its sales and finance organizations as well as crisper data visibility across departments.
- 25%+ improvement in the quote-to-cash cycle
- 25%+ decrease in bad debt
- 25%+ increase in business growth
- 25%+ boost in operational efficiency