Though d-u-n-s is the business registry of choice across much of the world, dun bradstreet doesnt maintain it out of the goodness of its heart. Once youre in the database, d b (and Dun bradstreet Credibility corp, a former subsidiary that offers similar services) regularly pushes you to sign up for services such as credit monitoring and business intelligence, which could become annoying. Virtual Monopoly on Business Identification. S., european Union, australia, and elsewhere, d-u-n-s is by far the most popular and comprehensive business identification database to the point where it has no real competition. . This situation may be increasing the systems overall cost to the governments and companies that use. For instance, according to the government Accountability Office, the federal governments contract with d b is worth more than 150 million as of 2010. To see if another system would be feasible (and cheaper or perhaps just to pressure d b in future contract negotiations, the government is looking at alternative business identification frameworks.
Blessed John Duns Scotus Scottish philosopher and
Receive better Information About Prospects. If you run a B2B company, your success depends on your ability to identify the most promising prospects and turn them into paying customers. With demographic, financial, and contact information for millions of companies, the d-u-n-s database allows you to find and reach out to the firms most likely to require your products and services. Expedite your Application for an ssl certificate. If your company wants to set up an e-commerce portal, it needs to apply for an ssl certificate, an essential security feature for online transactions. Organizations that issue these certificates typically require thorough contact, ownership, and demographic information about each applicant. . Your d-u-n-s entry contains all of that information, allowing the ssl issuer for to quickly verify your companys identity and activate your certificate. Without a d-u-n-s number, your ssl issuer may request a bevy of faxed or emailed documents, substantially increasing the length and complexity of the application process. Potential Disadvantages having a d-u-n-s number confers a lot of benefits, but its also important to understand the systems limitations and potential drawbacks. Dun bradstreet Profits From d-u-n-s.
This information is proprietary to dun bradstreet, so if you dont have a d-u-n-s number, prospective lenders may have an incomplete picture of your companys finances and operations, potentially making them less likely to give you a loan. Maintain Better Risk management With Clients. If your company extends lines of credit to its customers, you can use their yardage d-u-n-s numbers to better understand their overall health. For instance, even if one of your client companies appears financially sound, its parent company may be in trouble. By revealing the link between the two, d-u-n-s can help you spot a potential problem before the company goes out of business or cancels the contract. Maintain Better Purchasing Power With Suppliers. . Your company may do business with multiple suppliers that operate under the same corporate umbrella, but the relationship may not always be apparent. By analyzing each suppliers d-u-n-s entry, you can tease out hidden corporate relationships and use them to your advantage during supply contract negotiations. For instance, instead of buying from four different suppliers owned by the same parent company, you may be able to buy four times as much from a single supplier and secure a bulk discount in reward.
Even if you dont need to work with. Or foreign government agency, you may still want to do business with foreign private companies. Since d-u-n-s is the de facto business registry in many countries, having a d-u-n-s number is the easiest way to establish your legitimacy for potential clients overseas. Also, depending on the local governments policy, your company may need to obtain a d-u-n-s number before setting up a branch or subsidiary in another country. Establish Credibility with Lenders. As part of their due diligence, lenders may refer to your d-u-n-s entry for basic financial and demographic information about your business. They may also purchase credit reports and business intelligence on your company from Dun bradstreet. .
M: Duns Scotus - philosophical Writings
Total employee count (full- and part-time). What Can you do with One? The information contained in your d-u-n-s entry creates opportunities for your business, as well as other entities that wish to do business with you: keep Accurate business Data. Dun bradstreet claims to spend more than 1 million per day to maintain the d-u-n-s database, verifying and updating each entrys data. Accordingly, you can trust your d-u-n-s entry, and those of the companies you do business with, to be accurate and up-to-date.
Many electronic business directories, such. Manta, offer no such guarantee. Work with government Entities. . If you dont have a d-u-n-s number, you cant apply for a contract with any government agency or secure a small Business Administration loan. You also cant get proposal work with the United Nations and many foreign governments, though you should check with the appropriate sources if you want to do business with an overseas entity. Do business With Foreign Companies.
In Germany, a national business registry called Unique partner Identification key (upik) uses d-u-n-s numbers to sort businesses. How to Apply for a d-u-n-s number. You can apply for a d-u-n-s number through Dun bradstreet. Its free to do so, though d-u-n-s registration is included in certain Dun bradstreet paid credit monitoring and business intelligence packages, such as the Small Business Starter. Before applying, check to see if your company already has a d-u-n-s number this may be the case if you purchased the business from a previous owner.
You can search for your company, by name, through d bs online d-u-n-s database or call (866) to ask a representative. If you dont have a d-u-n-s number, you can request one by phone at the above number, which is staffed between 8am and 6pm, seven days per week, in all. You can also apply online through Dun bradstreets website or the federal governments Central Contractor Registration (CCR) system, the portal for all. From the time you submit your application, it can take up to 30 days to receive your number. Paid d b plans, such as the Small Business Starter, can speed the process to two business days. To apply for a d-u-n-s number, you need to provide the following: The name, address, and founding year of your company. The name of its owner, its legal structure (partnership, llc, sole proprietorship, and so on). A basic description of its business activity.
If an entity liquidates its assets and ceases to operate, its d-u-n-s remote number is never reissued. d-u-n-s is pervasive and global. As of August 2013, there were about 225 million unique d-u-n-s entries from businesses in about 190 countries. No other business registry, even at the international level, has as many entries. Compatibility With National Business Registries. . Many governments use d-u-n-s as a de facto business registry for companies they work with. For instance, the United database States Central Contractor Registration system uses d-u-n-s as its primary method of business identification: to apply for a government contract, you need a d-u-n-s number first. In many countries, d-u-n-s is the only accepted means of identifying businesses headquartered in other countries, even if they dont do business with the local government.
If your company is part of a larger corporate hierarchy, your d-u-n-s entry reflects this by linking to the entries of your subsidiaries, branches, and corporate parent. Your d-u-n-s number also confers many privileges. You need one to apply for a government contract and, in some places, to do business in a foreign country. It also allows your lenders and suppliers to obtain information about your business, boosting your credibility and possibly making essay it easier for you to get a favorable loan or credit line. You can also glean information about other companies by using their d-u-n-s numbers. This can help you find potential clients or partners and make educated decisions about whether and how to do business with them. Key characteristics of a d-u-n-s number. Each d-u-n-s number has several important characteristics: Permanence. . Once issued, a d-u-n-s number is permanent regardless of changes in ownership or domicile, or financial events like chapter 11 bankruptcy.
contractors, and anyone else who might do business with you, your d-u-n-s number signifies that your company or organization exists and is operational. When a business ceases to operate, its entry is closed to reflect that. Your d-u-n-s entry is an official, highly detailed directory listing that lets others find and learn about your company. It includes your companys physical location, contact information, ownership, business structure, industry, employee count, aliases (doing business as designations and historical financial data. D-u-n-s numbers are assigned randomly, so their digits dont carry any special meaning. However, they do reveal connections between related companies. .
D-u-n-s numbers may be issued with or general without dashes for readability: xx-xxx-xxxx or xxxxxxxxx. Unique numbers may also be assigned to subsidiaries and branches of larger firms. For instance, if Acme widget Company wholly owns Acme distribution Company, the two firms could have distinct d-u-n-s numbers. And, technically, any separate business location the two Chipotle restaurants on opposite sides of town, for instance, or even two separate corporate divisions that occupy different suites in the same building can apply for a unique number. D-u-n-s 4, however, at this level of organization, a company may prefer to use a d-u-n-s 4 number. This is a parent- or subsidiary-level d-u-n-s number with a four-digit suffix that helps vendors, customers, and government agencies identify smaller units for accounting purposes. Unlike the main d-u-n-s database, dun bradstreet doesnt endorse or maintain these four-digit suffixes companies create and manage them internally.
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Everyone born in the United States receives a unique, nine-digit Social Security number at birth. Without this identifier, you cant enjoy many of the perks that American citizens and legal residents take for granted, including retired and disabled worker benefits. Of course, you also need a social Security number to file your taxes. Business entities dont get or need social Security numbers. However, they can obtain a unique, nine-digit identifying number through a system thats nearly pdf as ubiquitous as Social Security: the data Universal Numbering System, or d-u-n-s. If you own your own business or are thinking about starting one, you should know more about the uses, benefits, and drawbacks of having a d-u-n-s number. The data Universal Numbering System is a business identification database established in 1963 by dun bradstreet, a private company. Dun bradstreet, virtually any distinct business entity nonprofits, sole proprietorships, llcs, partnerships, corporations, and even government agencies can apply for and receive a unique, nine-digit d-u-n-s number. There are currently 225 million of them.