Earlier today, Panjiva announced a new search experience for its solution set, which mines global trade data to provide up-to-the-minute snapshots of who global supplier companies are doing business with, as well as indicative information on the health of suppliers based on changes in container volume (and their overall export customer base). It's not perfect -- suppliers and buyers can use trading companies and transshipping techniques to avoid the public trade spotlight that Panjiva shines -- but we find that it's a pretty amazing little capability for supplier search and supply risk management analysis given that all of the detail is based on public information sources.
In a call yesterday, Panjiva's CEO Josh Green, shared with Spend Matters that the company grew 40% quarter-over-quarter between Q2 and Q3 2010. Customers are signing up to Panjiva both on a monthly (recurring) and yearly subscription basis and revenue is split between Global 1000 organizations and SMB firms. Even though Panjiva is small today, our back-of-the-napkin analysis suggests they're probably the fastest growing supplier enrichment content provider in the sourcing market.
Spend Matters had the chance to demo the new search tool yesterday and came away impressed. It mimics the idiot-proof nature of Google queries, leveraging natural language search features, among other enhancements. Panjiva suggests that by using the tool, "sourcing organizations can now [more easily] find overseas suppliers based on the products they supply, the geography in which they are located, and other U.S. companies with whom they have done business." Specifically, "Users can search Panjiva with a very specific query, like a competitor or supplier name, or conduct a broad search by region or item."
In addition to the basic search enhancements, the latest version of Panjiva, which is available as of today to all users, also features "drag and drop functionality" as well as the ability to more easily group and manage suppliers in preferred areas of the screen. Panjiva also has deployed Boolean search capabilities (e.g., "And", "Or", "Not") in this release. Boolean search leverages a basic algebraic calculation behind the scenes to insure that the query returns the specified output you're looking for.
Stay tuned for Part 2 of this post tomorrow, where we'll share our experience with using the updated release.