Forrester’s Location Intelligence Drives Competitive Edge In The Digital Age study of 253 decision makers, states that most firms (97%) plan to spend the same or more on location intelligence in support of customer experience and business decisions. A key conclusion from the study is that by enhancing location intelligence capabilities, firms can deliver more of these personalised experiences to better engage customers, improve loyalty, and drive business growth.
Let’s take a closer look at how address verification can support your business’ growth ambitions.
Address Verification - Flexible pricing models
Address verification pricing models vary significantly and not all are transparent. Here are some top tips of what to look for in a partner:
- Pay for successful searches only - Some address verification solutions will charge you even if the address they offer is incorrect and not selected. This will vary, depending on the API your company is using, and the volume of searches made over a period of time. Find a partner that doesn’t charge you for all searches but instead charges only if an address is able to be validated and offers a simple, transparent pricing model.
- Flexible commercial models - Businesses are not all the same and pricing and licensing agreements should reflect this. From simple pay-as-you-go plans to full licence solutions, ensure your chosen partner offers flexible commercial models that meet your specific business needs today and adapt to your changing requirements.
- Flexible payment methods - Look for partners that accept all payment methods to ensure you can use the method that best suits your business. This includes major credit and debit cards for instant payment, as well as cheque, BACS or CHAPS. To reduce administration for your team, look for partners that include services such as automatic top-ups or automated notifications on your credit balance.
No obligation trial - Finally, if you are torn between which solution is right for you then try before you buy. No obligation trials are commonplace and so you should be able to sign up for one with any potential partner. But, make sure the trial is free, has no obligation to buy and offers you support during your trial period. And as Forrester advises in its Location Intelligence Drives Competitive Edge In The Digital Age study, engage the right partners to accelerate location intelligence. Reach out to external partners to accelerate your location intelligence program. Use the right vendors to help you manage and clean your data; generate insights with machine learning and analytics; and ultimately act intelligently with location information at scale.
Address Verification - Scaling with your business
High-quality address data is a critical component of Data Management strategies. Organisations that operate across multiple countries need to maintain the quality of address data across different postal standards and languages. IBM partnered with Loqate to create an enhanced global address verification solution within InfoSphere QualityStage that ensured a complete, accurate view of location-based information. IBM chose Loqate as their global address verification solution due to its effectiveness and ease of integration with IBM’s InfoSphere QualityStage.
Loqate is a Trusted Partner to IBM, we do a lot of business together on behalf of our joint clients. Loqate delivers trusted technology, good support and I would recommend them.
- Dan Schallenkamp, Offering Manager - InfoSphere Information Server - Data Quality, IBM Corporation
Agility and dynamism are sought by the majority of businesses today. This is because being able to quickly react to changes in demand enables you to be more competitive, efficient and effective. These may be driven by customary peak trading periods, seasonal sales a successful marketing campaign or planned expansion to new territories. With thousands of queries processed a minute, Loqate scales easily on demand. Plus, as your business grows internationally, you can change settings to add verification for any new countries and territories, without the assistance of a developer.
The address search technology from Loqate is a vital component in the success of GiffGaff’s online customer journey.
- Riaz Ali, Head of Optimisation, GiffGaff
Address Verification - Global data
Every day we produce 2.5 quintillion bytes of data and the pace of growth is accelerating. 90 percent of the data in the world today was generated in just the last two years (Source: How Much Data Do We Create Every Day? The Mind-Blowing Stats Everyone Should Read, Forbes, May 2018). In part three of this blog series we talked about data being king. In 2017, The Economist ran the headline “The world’s most valuable resource is no longer oil, but data” and commented on how giants such as GE and Siemens talk about themselves as data companies. So, how do international organisations ensure data quality across their company to stay ahead of the competition? Simple, you need a partner who enables you to access both Data Quality (DQ) and Master Data Management (MDM) solutions. These tools enable your teams to validate and enhance data as it is being moved, and keep an accurate master record, via rule-based synchronisation. But, beware, not all solutions are equal. The best solutions use a complex rule-based scoring structure to manage synchronisation and ensure an accurate master record is maintained. Loqate is market leader for global data so if your business operates on a global scale, Loqate gives you the assurance that your data quality is optimised.
|Loqate’s address verification technology will parse, match, format and enhance address data for over 245 countries and territories, all via a single, easy to integrate API.Loqate also transliterates words or letters from different global character sets into either native or Roman characters across 8 scripts including: Cyrillic, Hellenic, Hebrew, Kanji, Simplified Chinese, Arabic, Thai, Hangul.|
At BT we live by our values - simple, personal and brilliant - Loqate embodies all three. It's a perfect partnership.
- Dave Wiggins, Product and Service Manager, BT
Address Verification - Improving Return on Investment
We opened this blog series with Peter Sondergaard, an executive vice president and member of Gartner’s operating committee who, in 2013 stated, “Every company is a technology company”. For any business to succeed in our ever-increasing world of tech, data more than ever is king. If your business uses address data then an address verification solution that scales with your business, charging only for successful and accurate results wherever your customers are located is essential to drive a strong return on investment and competitive advantage. But, these are not the only attributes you should look for; security, ease of implementation and accessible, reliable support are essential.
The time and money we wasted before Loqate was significant. The service was really easy to deploy…we’ve never looked back.
- Bill Doane, Project Manager – Dow Jones
Loqate is the world’s most trusted data specialist in location intelligence for businesses of all sizes and sectors. Find out more about Loqate address verification.