In this article we outline 5 steps to transforming your database to have corporate relationships (known as Business Hierarchies) for all your account information. Corporate relationships are the links between parent companies, subsidiaries, headquarters, branches, etc.
Whether you are looking to:
- Identify unique businesses and eliminate duplicate records
- Integrate your records (i.e. accounting, marketing, vendor)
- Define and analyse corporate relationships
- Discover new prospects within your customers’ family trees
- Analyse your customer base and market penetration
This process will help you place the right links between all your accounts data.
This will increase the matching required in step 2 & 3.
Remove any obvious duplicates as this will save costs when appending linkage information. You will only be charged twice for the same records.
There are a few reputable suppliers of linkage information available today. You may already have an existing supplier in place that you can use. In this example, we have used Dun & Bradstreet® as the supplier.
If you would like a whitepaper on how Dun & Bradstreet® use linkage information then, please contact Acuate or email me: firstname.lastname@example.org to obtain your copy.
To link these relationships in order to define corporate responsibility, each family member carries up to four DUNS Numbers:
- Site DUNS Number
- Parent or Headquarter DUNS; next highest level in the family.
- Domestic Ultimate DUNS; highest level within its country.
- Global Ultimate DUNS; top global ultimate.
For example, a branch carries its own DUNS Number, its headquarters, its domestic ultimate, and its global ultimate. A subsidiary carries its own DUNS Number, its parent, its domestic ultimate, and its global ultimate.
The domestic ultimate is the highest member of the tree. The site DUNS Number and domestic ultimate DUNS Number will be the same on the domestic ultimate record.
The global ultimate record carries the same DUNS Number in the site DUNS field, the headquarters/parent DUNS field, the domestic ultimate DUNS and the global ultimate DUNS field. This business is at the very top of the global family tree. Figure 1 presents a typical corporate family tree structure.
Most organisations do not have complex corporate relationships, they tend to be single entities. Split the database into two - those that have parent or child accounts, and those that do not. You can do this by querying the linkage information for a parent, if it exists. Then query the linkage information to see if the DUNS number appears as a parent anywhere else in the database. If it does, then there is a child account present in your database.
From the last step the database was split into two. Use the one with the parent and child accounts. Map these accounts into your database structure that lets you link parent information. Depending on your application, this could be through the user interface, or via a bulk upload function, or maybe by updating the underlying database directly.
You may find that some of the account now needs to be merged. This involves identifying the golden record and then deciding how the accounts should be merged.
If you follow these five steps, you can create corporate relationships. Performing this task once a year is sufficient to sustain the integrity of your corporate data.
If you would like further information on removing data islands within your business then contact Acuate:
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