Global Data: the importance of accessing data from all companies through a single service

Multinational companies, financial institutions, and public bodies, but also small e-commerce businesses selling abroad and companies aiming to expand their market may need to identify their business clients, verify the reliability of a supplier, or understand the financial situation of major competitors. Therefore, the so-called global company databases are used, a database that collects registries, contacts, and other data related to companies operating in different countries around the world.

Fundamental for lead generation and marketing operations, company databases are also strategic tools regarding automation, due diligence, and risk mitigation: an efficient and reliable system, therefore, can only be based on data quality.

Global company database: what is it for?

For companies looking to internationalize their business, a complete and reliable global company database is a top asset. Having such a database means always having detailed information on clients, suppliers, competitors, and partners. It means being able to rely on registries that are always correct and updated, as well as having greater control over suppliers and risk management.

In short, a company info database can become an essential resource in several areas:

• Automation (e.g., data enrichment, automatic filling, etc.)
• Supply chain control
• Market expansion: updated and reliable data on companies operating in a certain region of the world allows analysis of market trends and competitor strategies
• Risk mitigation: data can also concern the administrative and financial situation of suppliers and partner companies, reducing default risks
• Due diligence: even those not subject to AML obligations can benefit greatly from analyzing a company's fiscal or operational situation, especially in case of partnerships and investments
• Regulatory compliance: a high-quality database also includes information on regulations in different countries worldwide, ensuring compliance with local laws and policies
• B2B marketing: data on industry, size, and financial statements of companies are fundamental assets for targeted marketing campaigns

In general, acquiring data on companies operating in a certain market allows informed decision-making and data-driven strategy setting. This value, with a worldwide database, can be extended to companies all over the world.

Worldwide data: the problem of global data

When it comes to commercial information, acquiring data at a global level is particularly complex. In addition to classic outdated or duplicate information, companies face a complex ecosystem of national laws, legal identifiers, registries, and codes that vary from country to country.

French companies, for example, are identified by SIREN and SIRET codes, while German companies use a Wirtschafts-ID. Moreover, data are not uniformly available: in Europe, some information, such as the NACE code, is unique, public, and accessible, while in the United States, private companies and organizations assign SIC and NAICS codes somewhat arbitrarily and distribute them via paid services.

Building a complete and accurate global database that allows managing and using company data worldwide is a truly complex task. There is also the risk of handling a massive database that must be regularly updated, with real costs and ROI that are difficult to quantify.

Global database company: hundreds of official data via API

A monolithic database, no matter how complete and updated, is not always the ideal solution: a small company looking to expand into a specific country or a web service provider internationalizing for the first time needs a scalable system, preferably low-maintenance, that does not require large initial investments.

How can a heavy database full of certified data be replaced with a system capable of providing equally reliable information that is easy to integrate into existing systems? The solution comes, once again, from APIs.

By allowing access to hundreds of company data via API requests, business information services like Openapi enable selection of the needed information and its retrieval in real time whenever necessary, offering scalability and flexibility. Access to hundreds of official global data ensures that the information is updated, verified, and compliant with various national and supranational regulations.

This leads to simplified automation where data quality becomes a strategic asset, always available, easily integrable, and perfectly adaptable to the specific needs of the company.