NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced an agreement with Dun & Bradstreet (NYSE: DNB) to provide NetSuite customers direct access from within its cloud-based business management suite to relevant B2B data drawn from the world’s largest commercial database. Having easy access to a combination of NetSuite real-time transactional data, complemented with Dun & Bradstreet’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. Also under its alliance with Dun & Bradstreet, NetSuite plans to build a new SuiteApp on its SuiteCloud development platform that will provide the necessary bridge between NetSuite and Dun & Bradstreet to seamlessly integrate the two data sources. Through the SuiteApp, NetSuite users will have the opportunity to access Dun & Bradstreet information for data-driven decision making that helps organizations grow stronger relationships, generate greater business value and reduce business risk.
Accurate and relevant data is the lifeblood of all global organizations, better enabling them to run their businesses optimally and intelligently while adapting to upcoming market and industry changes and disruptions. For the first time, NetSuite customers will be able to easily and directly access commercial information from Dun & Bradstreet’s database, which consists of more than 240 million company records derived from 30,000 data sources around the world and which is updated five million times a day. NetSuite customers will be able to derive insight from Dun & Bradstreet data 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 combination of NetSuite and Dun & Bradstreet data enabled by the SuiteApp will also help customers better manage risk and improve data quality across their entire operations.
“The Dun & Bradstreet and NetSuite alliance brings together two market leaders to transform mission-critical business decision making in the cloud,” said Josh Peirez, Dun & Bradstreet’s Chief Operating Officer. “By natively integrating Dun & Bradstreet’s data within NetSuite’s cloud business management suite, we are removing the element of guesswork from corporate sourcing, planning and decisions to reduce risk and help drive growth.”
“Dun & Bradstreet is renowned as the leading provider of trustworthy commercial information with a breadth and depth of commercial data on businesses that can be found nowhere else,” said Evan Goldberg, NetSuite Founder and Chief Technology Officer. “This alliance is a game changer for our customers since it provides the data and insights necessary to help transform and speed up their business processes and decision making and to increase overall efficiency.”
NetSuite’s Goldberg provided early demonstrations of future capabilities of NetSuite’s cloud procurement solution including how the solution would take advantage of the upcoming SuiteApp for Dun & Bradstreet during his keynote address at SuiteWorld 2015, NetSuite’s annual conference for customers, partners and industry thought leaders being held this week in San Jose, Calif.
The new NetSuite and Dun & Bradstreet alliance will deliver to NetSuite customers the option of having hands-on access to real-time Dun & Bradstreet data directly through NetSuite, empowering users in retail, manufacturing, distribution, technology, energy, government and other industries 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. Organizations can track and manage a variety of risk dimensions on suppliers, manufacturers, credit and more.
Collections. Credit managers can optimize credit policies to minimize days sales outstanding (DSO) and bad debt without restricting revenue.
Data quality. Organizations can gain a single trusted version of data truth on customers and suppliers and eliminate the risk of multiple, inconsistent or contradictory records.