One of the most recognizable and widely used numbers for identifying businesses in the United States and abroad is the D&B D-U-N-S® Number. Some consider the D-U-N-S Number the universal standard for business identification. With that in mind, here are five reasons getting a D-U-N-S Number can help benefit your business.
1) Universal Business Identification
D&B’s Data Universal Numbering System is a business identification database established back in 1963. When you obtain a D-U-N-S Number, you receive a nine-digit number that is unique to your company. This number is used to create your business credit file, similar to how your Social Security number can be used to identify your personal credit reports.
The D-U-N-S Number is used by the world’s most influential standard-setting organizations, and is recognized, recommended, or required by over 200 government, trade, and industry organizations around the globe. Once given a D-U-N-S Number, your business is listed in a global identification system that identifies, validates, and links to more than 225 million businesses worldwide.
2) Government Contracting
Many local, state and federal governments require a company to have a D-U-N-S Number prior to being able to bid on contracts. For example, the System for Award Management (SAM) uses D-U-N-S as its primary method of business identification. So if you want to land a government contract with an agency that uses SAM, then you may need to get a D-U-N-S Number.
A D-U-N-S Number is linked directly to your D&B® business credit report. With a D-U-N-S Number it may be easier to obtain loans and lines of credit. Lenders, suppliers, and credit-card issuers can easily look up your company’s business credit report, and review its payment history, trade references*, and business information for faster decision making.
4) Credit Opportunities
Getting a D-U-N-S Number may validate the legitimacy of your business operation and can be a sign of credibility. It can help show other businesses and credit grantors that you are reliable and serious about your business. Many credit grantors that solicit business credit use pre-screening to identify potential business customers. These pre-screened offers can be based on the information that is on your business credit profile.
5) SSL Certificate Approval
Having a D-U-N-S- Number may help your company obtain SSL certificate approval faster. A D-U-N-S Number may enable organizations to verify your business credentials quickly. Therefore, it can help bypass the need to submit all types of documentation to show proof of business ownership.
Start the D-U-N-S Number registration process: it can be a powerful way to help validate your business and start your company on the path to establishing a business credit profile. If you have an existing D-U-N-S number, log into Company Update and make sure all your company information is accurate and up to date.
Photo Credit: Stephen Richie, Flickr
*Trade References will be added subject to D&B® verification and acceptance. Please see http://www. dandb.com/glossary/trade-references/ for eligibility, process and other information regarding Trade References.