Toucan Toco is now five years old, and I would like to revisit the mission statement : to equip the novice user with a tool that lets him/her easily access company performance data. One of the first observations that we ...
Their Economic Research department monitors over 40 millions companies worldwide. Their daily routine is to manage this incredible amount of data, digest it and package it into insights and analysis about payment behaviors and insolvencies.
They share their insights with their clients, prospects and other departments in their company so everyone can make better decisions.
Euler Hermes’ challenge
“Our goal was to find a way to share our data and expertise to the world in a fast, easy, accessible and immediate way.”
As the number of data is always increasing, the Economic Research Department at Euler Hermes decided to take on a tool that would allow them “to aggregate their insights inside a digital tool so everyone could access it at any time, anywhere” says Ilan Goren content manager at Euler Hermes.
Before Toucan Toco, the Economic Research department had to issue multiple paper reports a day. After some years they had thousands of papers that were used for some time and then thrown out.
They wanted to capitalize on the knowledge they were giving out. They wanted to share their expertise in a way that would be easy to use and always accessible.
“Data is very powerful, we had to make it more available through a user-friendly solution. We wanted to impress internal stakeholders, clients and prospects by bringing them value” adds Ilan Goren.
Why Toucan Toco?
“We first looked at other companies. Bigger and more established companies. We also looked at other internal tools. Between the metrics of budget, delivery dates and value for users, we thought Toucan Toco would be the best option and I still think it is.” says Ilan Goren.
Mind your receivables
The application set with Toucan Toco is called mind your receivables. The app was designed to bring more value to the work of the Economic Research department by facilitating the visualization of key information for their teams, clients, and prospects.
The app links historical data and forecasting analysis in order to predict insolvencies by countries, industries, sectors, and companies.
The app allows people to have access to it immediately and benchmark their companies or other companies in comparison to the market and their competitors.
The project became quickly viral with internal stakeholders. It is being used by Sales, Marketing, Risk department, Brokers … It has increased the usage of data and reports inside Euler Hermes.
Something that was not expected was the use of this application for Marketing and Sales purposes. As the product shares real expertise and key informations for their clients, the product became a lead generation factor.
From content to lead generation
Toucan Toco placed a pop up that is generating between 100 to 150 leads per month which is a lot for an Economic and Research department that is not even supposed to do any act of marketing or sales. Furthermore, the Marketing department used it as content to launch 5 new webinars.
As a result, the app “Mind your receivables” increased the brand awareness of Euler Hermes worldwide. They now have users from 35 countries, in Europe, Asia, North America, Africa and Middle East. Most of their clients and prospects benchmark to avoid risk or find opportunities. This has a very important impact on their business and strategic decision.
“The project is a real success for our department, but as well for the rest of the company and our clients and prospects. We even received the price for the best workshop by brokers with an NPS score of 68. In the end, we have created an open Big Data knowledge tool and we are the pioneers in our market.” says Ilan Goren
The goal of the app is to focus on one screen at a time. This logic simplifies the way users interact with the solution. For each screen, there is only one story and one kind of information to understand.
You can select information and analysis from 43 countries. As an example, we have picked China. If you’re doing business with Chinese companies on a regular basis, you want to know what the risks of non-payments or insolvencies are in your industry.
In 2016 we saw an increase, almost double, of the non-payments in Euros. We could link it directly with the steel crisis in China, with an abnormal amount of companies going bankrupt. This had as a direct consequence, a high volume of non-payments.
To have a better understanding of what is going on and compare these numbers with other countries you can click on the card and chose to focus on the evolution of the industry. You can see how long it will take you to collect your money, and check if the bankruptcy rate in your sector is high, by comparing it to other sectors.
You can compare it to other countries and throughout time. With one look, you understand that China has become a situation with an increase of 91 points compared to last year, and more than 3 times than the second worst.
If you want to go further in your analysis or share the information to a member of your team, you can export data on Excel or PDF and send it to someone by mail.
This app has made benchmarking easy and allows companies to investigate non-payment risks like never before. “Mind your receivable by Toucan Toco is a free, fast and unique tool in the trade credit universe,” concludes Ilan Goren.
Key figures of the data visualization app:
- 5 webinars created with the Marketing department
- 100 to 150 leads a month
- From thousands of paper files to one app
- Increase usage of data and analysis internally
- Users from 35 countries
- Create a new and unique tool on the market
- Voted best workshop by brokers
Our mission: tell Business Performance Stories through interactive Data and Data Storytelling.
Our users: Marketing, Production, Finance, Human Resources, SalesForces and Top management of Big Companies.
From 4 to 55 people in 4 years, more than 100 clients, 260 projects among them: Renault, Total, Axa, BPCE, EDF, JCDecaux, Téréos, Psa, Marques Avenue, lvmh, Euler Hermes, Vinci, DCNS, BIC, sncf, seb, Moët Hennessy, La Banque Postale…
Small apps are mobile, easy to use, made for action and easy to setup in any information system.