What is the D-U-N-S Number?
Data Universal Numbering System, or D-U-N-S in short, is a nine-digit unique identifier for business entities. This string of nine-digit numbers is used to set up a D&B Live Business Identity for your company. Wondering what good this will do? The fact is that lenders, suppliers, and other potential business partners can use this data to predict the reliability and financial stability of your business, based on which they can decide to do business with you.
Why Your Business Should Have a D-U-N-S Number
The D-U-N-S Number is used globally, including the European Union, Asia, Australia, and the U.S. When you have a D-U-N-S Number, your associated business credit file can help lenders and potential business partners understand that you are a reliable and creditworthy business. Further, your D-U-N-S Number can help you negotiate more favorable terms with lenders and other companies.
By enhancing the confidence and trust in your business, you can foster key business relations with companies across the globe and grow faster and stronger.
Additionally, once you register your company, you will also be able to access the Dun & Bradstreet information on different businesses. This, in turn, helps you:
– Manage cash flow: There are numerous businesses that have problems with their cash flow. Accessing a company’s business credit file using their unique D-U-N-S Number can permit you to make decisions regarding which companies to partner with, so another company’s cash flow problems do not affect your business growth.
– Prevent bad debt: While resolving and getting out of bad debt can be extremely challenging, there is a lot you can do to prevent it from happening in the first place. Accessing the business credit files of potential companies you would like to do business with can help you steer clear of risky financial situations with them and avoid having unpaid invoices.
How to Register Your Company for a D-U-N-S Number?
Given how competitive today’s business marketplace is, with multiple companies vying for your market share, it is important that you make sure that your company is visible to millions of potential customers and business partners globally. Fortunately, with the D-U-N-S Number, you can get listed on the Dun & Bradstreet Data Cloud, the largest and most comprehensive database in the world.
The process to get a D-U-N-S Number for your business can take up to 30 days. The company also offers an expedited process for an additional fee. The registration process is simple, and you can complete it in just a few minutes!
