We interviewed Anders Borg, Chief Strategy Officer at Bisnode. Anders is one of our speakers at our November conference this year and he will talk about “How to build successful data partnerships”
Bisnode is a supplier of data, specialized in retrieving business, market and credit information for organizations to use as a decision basis.Anders gave us some insights into his way of looking on collaborations.
Creating a metaphor with a spider in a web, Bisnode would play the part as the actual web, connecting many different parts of the industry with data. Looking at Staffan Movin’s reasoning stating that the real value of one´s data usually doesn’t show until you use it in a collaboration with another party, Bisnode is creating value by doing exactly that.
“We are suppliers of the data that is flowing between the different parties in an ecosystem. A lot of times, the data is what determines how the parties are going to interact with each other. We collect data from multiple suppliers, refine it and then help the organizations reach a conclusion. In short, you could say that we are the fuel that keeps the ecosystems going.”
“We believe that the amount of collaborations we need to keep continue contributing with the relevant data will increase even more. We have also noticed an increase in specialization in all types of businesses that have a digital dimension and we are rebuilding our complete platform to ensure that we can meet that demand.”
One of the tasks that Bisnode is still working to perfect is the structure and business model to use for the partnerships. Being in the midst of the process, some learnings have already been collected.
“Regarding our collaborations, we have concluded that there has to be someone with responsibility for the partnership quite high up in the organization, preferably in the directorate. This person or group need to have the necessary mandates to be able to manage the partnership in a successful way, or the partnership will dissolve. Often, many different functions from each organization need to be represented in the collaboration to make it efficient.”
“We have seen that purpose centered-contracts are the by far most successful format when trying to create a structure for sharing of data in a collaboration. We don’t really believe in joint ventures. What we instead create is sort of an access right for the data, which adds value to the partnership but also simplifies the risk management.”