An Interview with Phil Garlick, President of OneSource…

Do you foresee changes in the way that businesses will be utilizing business information in 2009, given the state of the global economy?
Everyone is suffering in this economy, of course, but there are pockets and sectors that are still prospering. Being able to target those effectively is important. For sales executives this could mean deploying account managers to address these opportunities; for marketing executives this may require specialized list development and advertising efforts. Because of these challenging market conditions one could argue that now, more than ever, having the best – the most accurate and complete -business information is critical to success.

As you travel and speak with customers globally, how do you see organizations using business information to uncover those pockets of market opportunity?
They’re sizing and comparing market places and sub-sectors, exploring dynamics and looking to replicate successes. Businesses are using business information tools in order to understand how to repeat market success, while reducing risk. By analyzing market dynamics, assessing viability and preparing an entry strategy – with the right information – their chances of success are markedly improved.

What other strategies do you see being embraced?
Businesses are also seeking to leverage existing customer relationships in new markets. By using family tree information and by drilling down across a given organization there are often opportunities to gain wallet share within current accounts. Customers also see that global markets are not equally affected; there are still opportunities in some markets. It’s important to use a resource that is broad enough to support the global market, and is deep enough to provide information on specific market segments. Using resources that provide extensive news and analysis, can help companies stay on top of the trends in those particular markets – resulting in a significant competitive advantage.

Do you think that it is the larger organizations that may already have a global footprint that are moving more aggressively to internationalize their business – or do you see many smaller, domestic organizations looking to the global marketplace for growth?
Some of those already in global marketplaces are definitely “doubling down” to be more aggressive in pursuing global business. Indeed, we have done this ourselves, adding significant expansion in global business information content to meet the needs of these organizations. In terms of domestic businesses, I’m not sure if they are looking globally; in many cases I think that they may be “hunkering down” and tightening the corporate belt, instead. This is a bit contrarian, in a way; you might expect that with some global markets still growing – even while many US markets are flat or shrinking in some sectors – that businesses would look abroad to identify strategic opportunities.

Are there areas where you aren’t seeing the recession affecting businesses to the same degree?
The recession feels to me like a deeply structural phenomenon; it doesn’t seem to me that the services industry is suffering that much by comparison with some types of manufacturing, for instance.

Professional services: such as law and consulting firms, seem to be doing fine. In general most of the advisory firms seem to be doing well on the back of serving customers’ global needs. Some firms in the IT sector are also doing well.

Given this discussion, where are you investing?
First, we continue to expand the breadth, depth and quality of our business information; for example, on the European front we are adding a wealth of information on German, Italian and Spanish firms and those markets.

Second, we are expanding our professional services offerings. By facilitating flexible delivery of critical business information, often through integration with the customer’s existing infrastructure—a sales portal or CRM system, for example—we help firms to realize maximum value from all available business information.

In the UK we launched a credit analyzer product that allows for creation of a custom credit score. The professional services team uses financial data to create a customized financial score based on the condition of the target organization. Because the Professional Services team can customize the report to a particular model, or a particular approach, it helps the customer understand credit worthiness in a way that is relevant to their business.

The Market Analyzer is a popular application for those seeking the truth about where the best revenue and profit opportunities are in their markets. It’s very useful in helping businesses segment their marketing–understanding where they are currently, or can be, most successful.

Tags: Global Economy