For business today, accurate and complete executive data is essential for making informed decisions. This data can be used to identify potential partners, assess risk, and make better strategic decisions. However, collecting and managing executive data can be a challenge, as it is often scattered across multiple sources.
A leading online corporate database company partnered with Netscribes to tackle this challenge head on. Here’s how they were able to acquire the data they need to make informed decisions.
Challenges
Our client an online corporate database stalwart faced a primary challenge – ensuring accuracy and completeness while updating executive data. Moreover, this extensive data update encompassed various critical fields, including work experience, board seats, education, sectoral/industrial expertise, deal experience, and contact information.
- They managed a vast database of over 125,000 registered suppliers.
- Each supplier underwent a rigorous assessment covering health and safety, workforce compliance, ESG (Environmental, Social, Governance) considerations, and financial viability.
- Suppliers were also subject to verification for a wide range of expertise services.
- A team of 90 service agents handled more than 20,000 service requests, including onboarding new suppliers and renewing existing ones.
- The firm sought to increase throughput without a proportional increase in human resources and lacked automation for its compliance-based operations.
Approach and solution
To address this challenge effectively, our team of database experts devised a comprehensive approach:
- We employed a dual-pronged research strategy, utilizing secondary and primary research sources to ensure data accuracy and completeness.
- Next, we meticulously scoured secondary sources, such as online databases, company websites, presentations, and annual reports, to gather initial executive information.
- To further enhance data accuracy, Netscribes proactively reached out to executives themselves. This involved contacting them to verify their information and fill in any missing data points, ensuring the highest level of data reliability.
Related reading: Building comprehensive contact list database for leading global telecom giant
Results delivered
By partnering with us, the client received:
- High-quality data within a mere 9-week timeframe, ensuring a swift and efficient solution to the data update challenge
- A significant reduction in both time and costs associated with database maintenance. This efficiency directly contributed to improved resource allocation and budget management.
- Continuous updation and verification of executive data by Netscribes for more than 50,000 companies on a regular cadence. This sustained effort ensures that the client’s corporate database remains accurate and current, supporting their mission to provide reliable information to users.
Client benefits
The company was able to deliver high-quality and trustworthy executive data to its clients, armed with our data management collaboration – a valuable and sustained partnership in the ever-evolving corporate information landscape.
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