CONNEX FOR D&B
YOUR ACCOUNTS ARE YOUR BUSINESS
Your accounts are the lifeblood of your business. With duplicate and inaccurate account data, you can not accurately assess true account production and penetration or effectively execute marketing campaigns.
Inaccurate account records can lead to lost sales, payment collection issues, ineffective or duplicate marketing campaigns, and difficulty in determining market saturation.
Newmarket has strategically partnered with Dun & Bradstreet (D&B), the worldwide leading provider in account data, in its development of Connex for D&B. With Connex for D&B you can leverage the D&B global account database containing over 140 million business records in over 200 countries and over 82 languages and dialects.
D&B is primarily focused keeping up with the changing business world and applies over 1.5 million updates to the global database daily. D&B’s multiple source approach to collecting data enables them to confirm the accuracy of the data collected and easily identify new businesses created. Additionally with Connex for D&B, Newmarket is able to provide a more complete picture of your business and access to businesses around the globe.
SIX STEPS TO ACCOUNT HYGIENE
Analyze & Exclude - Evaluate accuracy of your account data against a defined sample set. Based on results, determine which types of accounts should be excluded (i.e. in-house, social, and prospecting).
Match - Execute the bulk match tool and commit account matches based on pre-determined confidence thresholds. Your high-quality accounts are now matched to a Dun & Bradstreet
D-U-N-S number in your sales and catering system.
Merge - Based on your organization’s confidence threshold, merge duplicate accounts in bulk and commit changes to your database. Associated account information is also merged based on rules you define.
Clean – Manually clean account data elements to enable better match candidates. Normalize and standardize data to postal standards. Additional data cleansing services are available from Newmarket International, Inc.
Maintain – Embedded tools enable periodic account maintenance.
Operate – Operate more efficiently when searching and creating new accounts, as well as account related reports.
BENEFITS OF CONNEX FOR D&B
Single Source of Account Data
- Holistic view of customer relationships that may be spread over multiple accounts, locations, Newmarket Sales & Catering databases, and trade name
- Ability to merge or remove duplicate accounts for a single source of account information
- Enable more effective customer relationship management (CRM) initiatives
- Improve the efficiency of internal operations by facilitating coordination of front- and back-office systems
- Utilize the D-U-N-S Number to consistently identify the same customer in all systems
Improved Account Reporting
- Enhanced reporting & analysis with cleaner account data
- Improved decision making by providing more accurate data for marketing studies, sales analyses and other research
- Addition of new data elements such as DUNS Additional Names, DUNS ID, Primary Trade Name, Excluded Flag, Match
Reduce Duplicate Accounts
- Reduce creation of duplicate accounts and easier identification of duplicates
- Easily remove duplicate accounts with enhanced account merge capability to include DUNS number
Faster Account Creation
- Faster, more accurate account creation with automatic data entry
- Instantly search against the D&B database to prevent duplicates
More Efficient Search
- Easier ability to search for accounts against sales and catering and D&B directory databases
- Search more quickly with new search fields
- New fields added to enhance account search and filtering
Dun and Bradstreet estimates that it costs an average of $1 to verify a contact name; $10 to implement it into your systems and $100 to store a complete customer record for 1 year. Additionally research indicates that 25% of your accounts will be inactive after only 12 months.
On average 10% of your accounts changes monthly, with periodic updates from Dun & Bradstreet your data will stay current and accurate. Rather than focus countless dollars on a one-time clean-up, it is more effective and more cost efficient to implement an on-going data maintenance strategy than it is to store and leverage inaccurate business information.
Talk to your Newmarket account representative today to learn how you can benefit from Connex for D&B!
