“Never underestimate an old school company’s ability to bring itself into the modern era with the right management.”
This is how Jim Kramer started off last week’s episode of “Mad Money,” right before sitting down with Dun & Bradstreet’s CEO, Bob Carrigan, to discuss Dun & Bradstreet’s recent acquisitions and strategy for continued success. Carrigan became the CEO of Dun & Bradstreet just over a year and a half ago, with the mission to take its vast repository of corporate data and turn it into one global company that delivers indispensable content through modern channels. Since then, Dun & Bradstreet stock has given more than 22 percent gain, which Carrigan attributes to capitalizing and leveraging its biggest resource – data.
“Dun & Bradstreet sits on the world’s largest commercial database,” said Carrigan. “We have information on 240 million businesses globally.”
Leveraging this information may very well be the secret to their success. With relationships with nearly 90% of Fortune 500 companies, Dun & Bradstreet is very well positioned to continue to be the leading source of commercial credit information, with roughly 80 percent market share. So why is data becoming more important? Turns out, it could have a lot to do with marketing.
“Marketing is moving from art to science,” Carrigan explains. “Companies are trying to figure out how to use data and marketing automation software to engage with customers in new ways.”
This transition may be the driving factor behind Dun & Bradstreet’s recent success. With data from over 30,000 sources of trade, signal data, B2B e-commerce data, shipping data, and social media data to name a few, Dun & Bradstreet has the tools and methods to give data seekers what they want: rich profiles that may help provide actionable insight.
Data isn’t the only thing driving profits at Dun & Bradstreet. Carrigan’s Ford-like approach to business strategy calls for looking outward, not inward, as Dun & Bradstreet may have done in the past. Carrigan wants his employees to focus on the “outside environment,” specifically targeting external market opportunities and customer needs to drive what they do. Carrigan is certainly following his own advice with the recent acquisitions of Dun & Bradstreet Credibility Corp. and NetProspex, and hints that the buying spree may not be over. “We have a great pipeline of potential targets but we’re focused very much on how it assists our strategy, and staying in investment grade in our rating as well,” he said.
Whether it is new data, new business strategies, or new acquisitions, Dun & Bradstreet has its eyes set on future in a data-driven world. If you are an emerging or established business, having a favorable Dun & Bradstreet business credit file for potential lenders or partners to look at might be the difference between success and failure. Check out Dun & Bradstreet’s free credit monitoring service* and join the 240 million businesses putting their trust in Dun & Bradstreet today.
Interested in a FREE business credit consultation with one of our Credit Advisors, call 1-800-701-7168. A credit consultation can help you understand how to leverage your business credit file to secure contracts, get access to capital, manage cash flow and minimize business risk, call 1-800-701-7168.
Photo Credit: Marius B, Flickr