London, 4 April 2005 - OneSource Information Services Limited, a global provider of business information solutions, announced that Lloyds TSB Commercial Finance, part of the Lloyds TSB Group, is using OneSource business information to help manage business risk through more accurate company assessments, and to conduct ‘Know Your Client’ checks on new customers, as required by the Proceeds of Crime Act. Lloyd’s TSB Commercial Finance also use OneSource to improve prospecting effectiveness.
A UK market leader in asset-based lending, Lloyds TSB Commercial Finance is using the Professional and Financial Services Edition of OneSource Business Browser UK to access company profiles, news, business and trade articles, research reports, executive profiles, industry intelligence, and financial and stock price data on 400,000 public and private UK companies.
“In today’s competitive market, it’s more important than ever for us to be able to fully appraise and understand the businesses we are lending to,” says Richard Daley, Sales Director for Corporate Business at Lloyds TSB Commercial Finance. We have to look at a spread of current and historical company information, quickly understand a company’s performance and management, and make an accurate assessment of the potential relationship. OneSource is excellent in terms of helping us do this.”
Better Prospecting and Company Assessments
The Lloyds TSB Commercial Finance team uses OneSource Business Browser to obtain useful business information on customers and prospects across a variety of industry sectors.
“As a prospecting tool, OneSource helps us target the right industries and companies,” says Daley. “For example, I can research the engineering sector to understand the trends and market drivers, identify the major players operating in this sector, and use this to help identify market potential. If required, I can then download a complete list of executive names, titles, and addresses of those businesses with whom I wish to make contact.”
“Instant access to financial data is critical,” says Daley. “With OneSource, I can look at financial performance, conduct ratio analyses, and determine how consistently a company has performed over time, all without leaving my desk.”
The fact that OneSource Business Browser offers web-based accessibility eases the research task for the entire team, regardless of their location throughout the country. In fact, Daley says his managers often have Business Browser viewing on their computer screens while talking to prospective clients on the phone. “With OneSource right in front of them, they can often find a hook that helps establish faster credibility with the person on the other end of the line,” says Daley.
Using Business Information to Know Your Customer
Of major concern to many UK companies is compliance with the Proceeds of Crime Act. “Know Your Client” checks that interrogate key business information on companies and their directors are a fundamental, but resource-hungry, process that financial service organizations must perform to comply with the new regulations. In this area, OneSource Professional and Financial Services Edition helps the Managers at Lloyds TSB Commercial Finance perform an initial check on the individuals associated with prospective clients. The Board of Directors listings in particular are useful in determining other executive boards to which an individual may be linked.
The Professional and Financial Services Edition of Business Browser offers companies in the legal, financial, banking, audit, accountancy, consulting and insurance sectors rich information to improve sales and marketing effectiveness and reduce business risk.
About Lloyds TSB Commercial Finance
Lloyds TSB Commercial Finance, part of the Lloyds TSB Group, is a UK market leader in asset-based lending. For over 40 years the company has offered businesses the flexibility that comes with asset based financing. Lloyds TSB Commercial Finance currently provide funding to over 14,000 UK businesses of all sizes. Additional information may be found at http://www.lloydstsb-commercialfinance.co.uk/corporate_profi...
About OneSource Information Services, Inc.
OneSource, a Donnelley Group company of infoUSA, and a recognised leader in business information solutions, delivers unparalleled company, executive, and industry intelligence that makes business professionals more effective and productive in completing their critical daily tasks. OneSource products and services support a company's vital business processes, including serving customers, finding and leveraging new opportunities, and managing suppliers and partners.
OneSource combines and organises content from over 2,500 information sources supplied by more than 35 world-class content providers, creating an unequalled information resource encompassing company profiles, corporate families, industries, executives, financials, news, analyst reports, and trade and business press articles.
OneSource is headquartered in Concord, MA, with offices located in North America, Europe, and the Pacific Rim. Product information is available at www.onesource.com. Customers include Bank One, Chubb, Citigroup, Deloitte & Touche, HP, i2 Technologies, Orange, SAS Institute, and Sun Microsystems.
OneSource, Business Browser, AppLink, Synergy, Catalyst, Global Business Taxonomy, and/or other OneSource product and service names referenced herein are either trademarks or service marks or registered trademarks or service marks of OneSource Information Services, Inc. or its subsidiaries in the United States and/or other countries. All other product and service names mentioned herein are trademarks or service marks of their respective owners.
Note to editors: for further information or to arrange an interview with Lloyds or OneSource, please contact:
Tel: +44 (0)1420 564346
Mob: +44 07990 520390
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