GB Group (LON:GBGP)Loqate division was the focus of yesterday’s capital markets day. Presenters highlighted the need for accurate address data as a prerequisite for many business processes, including e-commerce, insurance and invoicing. Loqate’s ability to provide the “golden record” in a simple, fast and consistent way gives it a competitive edge and supports the division’s international growth ambitions.
“Where are you?” - Loqate provides the answer
At its capital markets day, GBG presented a deep dive into its Loqate division (34% of H119 revenues). The division provides location data in 240 countries/territories, in 130 address formats and eight character sets. Customers (Moo, Oracle (NYSE:ORCL)) highlighted their reasons for using Loqate, including data quality, ongoing data maintenance and Loqate’s relationship management. As well as helping e-commerce retailers to reduce the rate of delivery failures (c 20% of deliveries fail due to inaccurate address details), Oracle highlighted that accurate address data are vital in software used for sales management, billing, and tax purposes.
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