ADP’s ventures group uses CB Insights to make faster, data-driven decisions that move its business forward.
ADP is the largest Human Capital Management provider in the US, managing payroll for one in six Americans. With new threats emerging in the marketplace, ADP relies on its ventures group to incubate new businesses and augment its payroll services in order to maintain its position as market leader.
Prior to using CB Insights, ADP’s ventures group obtained relevant data and research across an array of unconnected sources, making it difficult and time-consuming to share findings and keep stakeholders in the loop. The small, but highly skilled team needed a way to quickly digest new technologies, identify disruptive trends, and discover insights to make data-driven decisions about future initiatives.
This is where CB Insights came in. ADP adopted the CB Insights market intelligence platform, which turns millions of data points on venture capital, startups, patents, partnerships, and news mentions into real-time insights, helping ADP achieve a 360-degree view of its business landscape. The platform has enabled ADP to:
- Reduce time spent on market research by 80%
- Achieve a constant pulse on new trends, emerging technologies, and competitive activity
- Make strategic decisions and take action — fast
“With a constant flux of activity happening in the market, the goal for us is to get to a decision and take action. CB Insights helps us compress our decision time down in terms of gathering data, analyzing the information, and getting an external view on what's happening in the market.”
-Meraj Mohammad, Vice President, Ventures Group, ADP