Jim Whalen, CFO in Residence at Markaaz, gives us an overview of the unique small business data Directory Markaaz has built with its proprietary technology and how that data helps you
Like your favorite plant, small business intelligence data needs nurturing to survive, it cannot be left alone, or it rapidly becomes outdated, incorrect, and useless for any enterprise whose target customers are small businesses. The landscape for accurate global small business intelligence providers is minuscule, and most cannot return accurate data in real-time, delaying your onboarding and losing you up to 68% of your customers.
“If you’re an enterprise and have a huge bank of customers, many of those lists become outdated or irrelevant. Customers go away; they are not active; they sell. As an enterprise partner, it is difficult to discern what is happening with individual companies because you are carrying all these data bits. Your small business data intelligence file becomes cumbersome and not relevant anymore, your decision-making becomes flawed based on outdated business records leading to more customer attrition, or rejections of strong customers,” said Jim Whalen, CFO, Markaaz.
Markaaz has a valuable small business data proposition that provides the span, control, and impact necessary for enterprise partners to make better onboarding decisions and monitor small business clients even more accurately. With a data Directory featuring over 300 million global businesses, of which 98% are small businesses, Markaaz is leading the market when it comes to small business data across firmographic, business health, and compliance data.
With Markaaz’s easy-to-use Business Activity Monitoring solution, its onboarding APIs, or its custom services that include small business engagement, enterprises can view a plethora of accounts at any point in time, understand what is going on in their marketplace, or their customer sets, and tailor their products and solutions to suit.
Markaaz is becoming the go-to tool for the small business-focused enterprise, supported by the small business community. The multiple data sets the Directory uses are accurate but enhanced by the Markaaz small business members correcting and updating their business information on the Markaaz Dashboard.
These corrections made by the small business enable Markaaz enterprise partners to offer them better rates on loans, mortgages, credit card expansion, or other financial services.
“We just met with a bank, and they loved our ability to poke at our data because they’re trying to focus on family-owned businesses. Nobody else can do this. We can do it,” said Whalen.
Markaaz is in a rapid growth phase and is investigating what the market needs and developing features and functions in its product suite to address those pain points across small businesses and enterprises globally.
With its Series A growth funding round underway, Markaaz is further investing in its expansion and growth across global markets.