Enables businesses to gain deep insights into what their customers, prospects and suppliers are buying, how they pay and how this behavior changes over time
BOCA RATON, Fla., Aug. 14, 2012 – Cortera®, a provider of comprehensive business-to-business payment and purchase data and insights for U.S. companies, has launched its B2B Purchase Insights solution, which enables sales, marketing and finance executives to better research and understand their customers, prospects and suppliers by gaining visibility into what they purchase, how they pay and how their purchase and payment behavior changes over time.
B2B Purchase Insights enables companies to track active and potential customers’ purchasing history and spending patterns to understand their overall financial health, make educated predictions on what they are likely to purchase in the future and understand the risk associated with their ability to pay for those purchases. Rather than relying on less accurate evaluation methods such as demographic information (SIC codes, number of employees, revenue estimates) and risk scores, to profile and target businesses, companies are now empowered with the same effective purchase behavior tracking that has been the foundation of consumer marketing for decades.
Cortera’s solution offers sales, marketing and finance professionals actionable insights to better identify and profile customers and prospects based on what and how they are spending money and how that behavior changes over time. These insights help companies significantly increase revenue by improving client retention, acquiring new customers, improving sales and marketing efficiency and managing risk.
“Consumer purchase behavior — what people buy and how this spending changes over time — has been the foundation of consumer marketing for decades,” said Bill Warmington, an analyst with Raymond James and Associates. “B2B purchase behavior — what businesses buy and how their spending patterns change over time —is the next generation of B2B sales and marketing tool which could fundamentally transform the way businesses market, sell and manage risk.”
“Purchasing behavior is a more accurate way of measuring the overall size, health, growth and future behavior of businesses than traditional methods, which are based on less reliable demographic information and payment history,” said Jim Swift, chief executive officer of Cortera. “We track $1.6 trillion in business-to-business purchases across 45 spending categories and combine this information with our payment history data to provide actionable insights on 20 million U.S. business locations to enable companies to dramatically improve revenue and reduce risk.”
Cortera B2B Purchase Insights is accessed via Cortera Pulse™;, a solution for monitoring the financial health of a business, Cortera Deep Dive Reports™ , comprehensive business reports, or appended in batch processing via Cortera Data Boost™ or uploaded directly to CRM, ERP and other systems viaCortera Connect™, the company’s system-to-system API.