• Friday, March 01, 2024
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BusinessDay

D&B Nigeria expands with credit-to-cash, risk management solutions

Risk management

As part of its expansion drive, Dun & Bradstreet, a global provider of business decisioning data and analytics for almost 200 years, has unveiled new products in Nigeria to minimise business risks and maximise opportunities.

The two revolutionary solutions, which are ‘D&B Finance Analytics’ and ‘D&B Risk Analytics’, are aimed at streamlining finance operations and reforming third-party risk management for companies, according to a statement.

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“The two-flagship artificial intelligence-enabled solutions are powered by the D&B Data Cloud that comprises 520 million+ data records and contains key insights on 340 million+ shareholders,” the statement said.

It said the recently launched Finance Analytics is a complete credit-to-cash portal that assists businesses in streamlining financial decisions, reducing credit risk, and minimising bad receivables.

“Combining credit intelligence with receivables intelligence, this state-of-the-art product reduces company costs and enhances customer experience through credit automation and smooth cash management,” it added.

The second platform, which is Risk Analytics, helps companies manage regulatory and reputational risks emanating from their dealings with other companies.

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“It monitors and evaluates third-party risks through screening, Environmental, Social, and Corporate Governance performance, risk scores, and disruption alerts. A key feature of the platform is restricted party screening that detects third-party threats related to anti-money laundering, politically exposed persons, and adverse media coverage,” the company said.

According to Womo Diriyai, Country Head at Dun & Bradstreet Nigeria, Finance Analytics is for business leaders who want to transform their finance operations.

“On the other hand, Risk Analytics enables companies to monitor an extensive assortment of risk incidents, including those reported in global and regional markets and government and private databases,” he said.

Diriyai added that the company is optimistic that the two products will receive encouraging responses in Nigeria and that he firmly believes that businesses from diverse industries will utilize them to refine their operations.

“Nigeria’s business ecosystem is expanding at a rapid pace and we invite companies to benefit from the comprehensive product catalogue of Dun & Bradstreet. Interested companies are advised to visit the Dun & Bradstreet South Asia Middle East Africa website (www.dnbsame.com) to get started.”