A new suite of products backed by data and analytics to deliver improved decision-making across credit risk management and client due diligence for businesses in India.
How do the new suite of finance and compliance solutions help businesses?
D&B Direct for Finance
§ Improve cash flow by reducing credit risk
§ Identify opportunities across the credit portfolio
§ Automate decisions to manage risk, receivables, and collection priorities
§ Streamline and shorten the due diligence process on new deals and acquisitions
§ Research and Financial Analysis
§ More than 140-million financial statements
§ Flexible search capability with 80+ criteria
§ Worldwide coverage
§ API Integration
§ Enhance Client Due Diligence (CDD)
§ Investigate specified anti-money laundering referrals
§ Authorize new accounts, account changes, and payments where links to Politically Exposed Persons (PEPs)
§ Check for potential cases of fraud against prospective or existing Suppliers / Customers
§ Complete Suspicious Activity Reports
Mumbai, 22 May 2020: Dun & Bradstreet (D&B), a leading global provider of business decisioning data and analytics, today announced the launch of three new products encompassing data and insights to support businesses in the India market: D&B Direct for Finance and Global Financials for credit decisioning and D&B Onboard to assist with compliance activities. These products are underpinned by Dun & Bradstreet’s Data Cloud and are designed to equip businesses with valuable insights for better risk management. The launch of these new data and analytics product suits come at a critical time when the COVID-19 crisis and a morphing macro-economic scenario is making it more important than ever for organizations to identify, mitigate, and manage risks.
The launch of these new data and analytics product suits come at a critical time when the COVID-19 crisis and a morphing macro-economic scenario is making it more important than ever for organizations to identify, mitigate, and manage risks.
The impact of the current crisis varies depending on the demography and industry. Yet, regardless of the effect of COVID-19 on business operations, having increased visibility and understanding of financial data, and the ability to harness insights from global data can help organizations drive their competitive readiness in the new normal’. For instance, enterprise-wide adoption of advanced, predictive financial risk analytics can help to streamline reporting and capital management processes while also enabling improved management of risks and elimination of non-compliant activities. Keeping this in mind, Dun & Bradstreet is offering the following products for businesses
D&B Direct for Finance is an application-programming interface (API) that integrates Dun & Bradstreet’s insights and capabilities directly into an organization’s systems and workflows to cut through complexities and reduce friction in the overall quote-to-cash process. The aim of the platform is to deliver the data structure, connectability, coverage, and quality required to streamline workflows and facilitate automated decisions to foster better business results. Further, D&B Direct for Finance is based around Dun & Bradstreet’s Data Cloud, which offers the world’s most comprehensive business data and analytical insights. Comprising more than 365 million records worldwide, the Dun & Bradstreet Data Cloud offers a single source of truth for global data and insight.
Global Financials gives businesses the power of standardised, comparable business reports and analytics benchmarking across various financial reporting standards across different countries. With each country having its own filing requirements and financial reporting standards, assessing financial performance in a uniform manner can be a real challenge. In addition, laws and filing regulations are subject to change, making it hard to maintain a standardised view. Dun & Bradstreet’s Global Financials standardises the base reporting data and helps conduct true and fair comparisons across international datasets with one common global format.
In addition to these financial products, Dun & Bradstreet’s compliance product, D&B Onboard provides a single point of access to information that enables businesses to vet third parties, accelerate due diligence and mitigate risks. It helps to protect businesses to keep fraud and money laundering from creeping into the businesses by revealing beneficial ownership of companies. D&B Onboard returns robust firmographic, operational and financial data and checks against The Office of Foreign Assets Control (OFAC), Anti Money Laundering (AML) laws, Politically Exposed Persons (PEPs) watchlists and other compliance sources, so businesses can verify the organizations they work with and determine if a company is accurately representing itself.
Mr. Julian Prower, Managing Director Dun & Bradstreet India said, “The unprecedented levels of uncertainty faced today require businesses and decision makers to tread even more cautiously in the emerging ‘new normal’ environment. Our new suite of services leverages best- in-class analytics to serve as a precursor for data-driven decision making. With the largest commercial database in the world at its disposal, Dun & Bradstreet is here to help our clients to navigate risks and support a superior business outcome.”
Dun & Bradstreet’s new suite of solutions can be used to support multiple functions including Risk Management, Accounting and Finance, Third Party Compliance and Supply Chain Management, to accelerate business outcomes and drive 360 degree, real-time visibility of business relationships.