Last week, NetSuite held its 5th annual user conference, SuiteWorld. During the event, there are always exciting announcements alongside previews of new features. Here at NoBlue we’re writing a series of blogs to keep you up to date with all the big news.
Last Wednesday at SuiteWorld, NetSuite announced an agreement with Dun & Bradstreet (D&B) to provide NetSuite customers with direct access to relevant data drawn from D&B’s commercial database.
World’s largest commercial database
D&B’s global commercial database contains more than 240 million business records; it is the leading provider of business information for credit risk management, sales and marketing, and supply management decisions worldwide.
More than 100,000 companies rely on D&B to provide the insight they need to help build profitable, quality business relationships with their customers, suppliers and business partners.
Having easy access to a combination of NetSuite real-time transactional data, complemented with D&B’s B2B commercial data will empower NetSuite customers with a rich set of trustworthy insights to inform better, faster decision making across finance, procurement, sales, marketing and more.
Accurate and relevant data
For the first time, NetSuite customers will be able to easily and directly access commercial information from D&B’s database to not only use as the basis for key decision making but also to discover, research and compare new global opportunities – whether for new customers, partners or suppliers.
The new alliance will provide NetSuite customers with insights for a variety of use cases including:
- Supplier selection – Supply chain managers can assess risk and performance profiles of prospective new suppliers or manufacturers.
- Credit decisioning – NetSuite users can make informed decisions on establishing credit and limits based on Dun & Bradstreet data.
- Sales and marketing – Professionals in sales and marketing can access lead lists, match and enrich data, and reduce duplicate records.
- Ongoing risk monitoring – Organisations can track and manage a variety of risk dimensions on suppliers, manufacturers, credit and more.
- Collections – Credit managers can optimise credit policies to minimise days sales outstanding (DSO) and bad debt without restricting revenue.
- Data quality – Organisations can gain a single trusted version of data truth on customers and suppliers and eliminate the risk of multiple, inconsistent or contradictory records.
Also under its alliance with D&B, NetSuite plans to build a new SuiteApp on its SuiteCloud development platform that will provide the necessary bridge between NetSuite and D&B to seamlessly integrate the two data sources.
The combination of NetSuite and Dun & Bradstreet data enabled by the SuiteApp will help customers better manage risk and improve data quality across their entire operations.
Do you have anything to add? Let us know in the comments below, we’d love to hear your thoughts on this new alliance.