Equifax 2008 Annual Report Download - page 8

6 EQUIFAX INC.
6
“ These companies rely on us to
provide them with commercial
credit data, scores and analytics
necessary to make informed
and accurate lending decisions
as well as improve their portfolio
management.”
MICHAEL SHANNON
President
North America Commercial
Information Solutions
A Candid Conversation with the Leadership Team continued
Paul Springman: As we enter the fourth
year of our New Product Innovation
program, we have a proven way to
develop new sources of revenue while
helping our customers be more successful
in their markets. The great thing about
innovation is that everyone can participate
and by tapping the collective brainpower
of the entire organization, we greatly
expand our innovation pipeline. We also
leverage our enterprise and business unit
Growth Councils, which are comprised
of some of our best and brightest talent
across the organization, to develop the
next big growth ideas. An example of
innovation is our Connexus™ technology
which integrates and keys disparate
data assets throughout the Company,
providing greater efficiency, faster delivery
of information solutions and enhanced
data solutions for our customers.
Anticipating and proactively respond-
ing to customers’ needs drives the
Company’s growth strategy. How
do you achieve a level of intimacy
with customers that enables you to
address their needs?
Paul Springman: Customer centricity is
integral to how we run our business. We
have implemented full relationship plans
for all our major customers. These plans
match customer needs and market
conditions with potential Equifax solutions.
We also provide quarterly loan and key
trend analysis to our customers’ key
decision makers providing them greater
insight on the performance of their
portfolios. This tool provides an excellent
platform for in-depth business discussion
with our customers. We also rely on
customer roundtables, advisory boards
and strategic partnerships to deepen our
understanding of customers’ needs
and challenges. This results in clear
voice-of-the-customer, which drives
the development of new products
and solutions.
Bill Canfield: At TALX, we also focus
on customer intimacy through our
long-standing customer advisory board.
This board has contributed significantly
to the development of many new products
and services, and is always a clear voice as
we formulate the strategy for our business.
How important is global expansion
to your long-term growth?
Rudy Ploder: We are highly focused
on international expansion in both our
current as well as new geographies.
For example, there is strong demand
in Latin America for positive data and
value-added services, such as marketing
services and decisioning platforms that
have historically been used in the U.S.,
Canada and the U.K. Additionally, we
are pursuing opportunities to help lenders
and borrowers in emerging markets
such as Russia and India where their
large and growing middle class is
creating new potential for lending and
deposit generation.
What value does your unique data
bring to the marketplace?
Bill Canfield: The Work Number powers
businesses’ ability to quickly verify
employment and income information.
It’s an essential tool for our customers
who are making critical lending decisions
that will impact their business success.
The Work Number also includes informa-
tion about self-employed individuals and
data that is confirmed directly with the
U.S. Social Security Administration. Our
“ We have changed procedures,
improved the performance of our
platforms, and empowered our staff
to take cost out of the business.”
DANN ADAMS
President
U.S. Consumer Information Solutions