BIIA surveyed credit managers at the tail end of the global financial crisis concerning the performance of credit information during the crisis. The response was that information companies played catch-up during the crisis pointing to a lack of real time data. Furthermore financial statements were rendered useless because the liquidity crisis caused supply chains to collapse rather quickly. BIIA asked Dr. Scriffignano, VP of D&B’s global data strategy to respond to the criticism of the BIIA’s user community.
Dr. Anthony Scriffignano stated that the financial crisis was a crystallizing force in articulating customer needs. He acknowledged there was a greater need for richer and deeper data, improvement in timeliness and access. The crisis accentuated the fact the industry had to respond to changing demand, characteristics of ‘what is a business’ with greater agility than before. During a very animated discussion with users, Dr. Scriffignano outlined what is being done to respond to the new credit management and credit information challenges post global financial crisis.
To access Dr. Scriffignano’s presentation click on the attachment: ScriffignanoPresentation