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Steps Towards a Pan-European Trading/Financial Database

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The project will make company financial data from Member States more readily accessible to industrial/commercial users by extending the coverage of the European Companies Database to include registered and financial data. It is anticipated that better access to such data will assist companies seeking to trade within the EU.

The existing Database is sourced from Kompass directories and holds product/service data for 385,000 companies. Records, held by trading address, contain telecomms data, employee/sales figures, company officers and a detailed classification. The Database is searchable on a pan-European basis, and by individual country.

The usefulness of this comprehensive system will be greatly enhanced if registered/financial data is added and made searchable on a pan-European basis. Standardisation of raw data will enable accurate retrieval of companies, regardless of their country of origin. Users will be able to identify and compare companies by their financial data as well as other criteria, as a single operation, rather than only by country. Users will also be able to find comprehensive data on a company in order to ascertain its suitability as a trading partner.

The purpose of this project is to achieve the following goals:
1. to develop a pilot project for several countries
2. to organise consultation with all Partners and users
3. to agree on standards, e.g. presentation of financial data
4. to organise a development programme to enhance the existing data for all countries of the EU.

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