I've got to hand it to Panjiva, a supply risk content clearinghouse that specializes in providing intelligence to companies sourcing from global suppliers. In its rather short life, Panjiva has not only succeeded in helping companies make sense of global trade data from public sources in its own core offerings -- it's also inked partnerships with a number of third-party providers of global content. In an announcement earlier this month, Pajiva shared the news that it was integrating six new data sources into its intelligence platform as part of its onPanjiva partner program. These six sources include D&B, Customs Info, Good Factories, Made-By, The American Apparel Producer's Network and Trivista Sourcing. After the announcement, I had the chance to have a quick chat with Panjiva's CEO, Josh Green, about the news. I also used the opportunity to prod him on what customers are currently most interested in when it comes to global supplier information.
At the start of the conversation, I asked Josh if this recent move to integrated third-party data represented a shift in company strategy. He responded that Panjiva's focus is to continue, "being the leading source of information for companies doing business internationally" by helping companies "facilitate business that extends past US borders". However, in certain cases, this information may take the form of on-demand services rather than instant information licensing. In this regard, Trivista, which provides supplier auditing services in China, is a good example of where companies that are using Panjiva might decide they want a deeper investigation of a supplier in the form of an audit. At this stage of Panjiva's partnership with Trivista, the results of the audit "will go directly to the company that requested the audit" but "down the line, if we find that the information is very popular and there is a willingness to share that information, then we'll integrate it [across the network]".
Based on what Josh is seeing in the market, it would appear that the information on global suppliers that's most in demand still centers around supplier financial viability. In his words, "Over the last few months, there's been a big push for information on the financial health of companies. This is due to the macro-economic circumstances". But going forward, Josh "suspects there will be somewhat diminished demand for broader solutions that encompass social and environmental responsibility" as well. Panjiva's vision is potentially quite a large one. But shorter term, it sounds like they're scrambling to provide highly targeted information to customers worried about the financial viability of overseas suppliers.
Stay tuned for the second part of this post where I'll share some further insights that I learned from catching up with Josh.