DUNS number, or Data Universal Numbering System Number, is a unique identification number of 9 digits through which you can track and manage your global trade and maintain a stable business credit activity. This system of assigning a unique identity to each business entity using their location was introduced by Dun & Bradstreet in the year 1962.
Furthermore, it is one of the best ways to keep a check on the identity and legal status of any organisation for the government too. DUNS number is used in several countries worldwide, such as the US, Australia and Europe. So, if you want a global identity at the same time manage your business credit, you should obtain and make use of the DUNS number.
Benefits of Obtaining DUNS Number
Besides establishing and managing your own credibility, there are a few more advantages that come with availing a DUNS number, so let us look at those benefits below:
- Conduct Global Business Effortlessly
As mentioned before, the DUNS number is utilised in many countries, so if you want to grow and expand your organisation on a global scale, you should consider obtaining the numeral. It becomes easier for foreign businesses to look at your data as well as for you to analyse and verify their information and legitimacy. Once your business peers (both foreign and regional) recognise you as a creditworthy entity, they might offer you better trade terms.
- Prevent Bad Debts in Your Organisation
Bad debts often fear institutions to spread their wings in the national and international trade market. But there is a solution for this too. The DUNS number accesses other company’s business credit file on their comprehensive data cloud, which can help you avoid the huge risks regarding their credit history and unpaid invoices. In this way, your business will have the financial freedom to make decisions with respect to funds and debts.
- Manage Cash Flow of Your Business
When there is a continuous movement of cash, it is difficult to remember and supervise all transactions—that is where the DUNS number is beneficial. In addition, the number helps create a business credit file through your trade references, identifies duplicate records and ensures to keep your cash flow positive. Further, the number also enables your organisation to view other company’s information to decide whether or not to onboard the specific entity for partnership.
Procedure to Avail DUNS Number for Your Company
The competition is fierce and there is a constant challenge of finding potential prospects that can contribute to your business. Dun & Bradstreet is one of the leading providers of global business information, details and insight that gives you an opportunity to enrich the trust and confidence in all of your business credentials and to your prospects through the availment of DUNS Number.
The process to register for DUNS number is simple, easy and online. You can get yours today in a period of 30 days by providing all the necessary business information such as legal name, company location, mailing address, phone details and other important trade numbers.