If you are running your own business, and dealing with other business vendors and customers, then you will want to work closely with Dun & Bradstreet.
The company provides a variety of reports on business entities that can alert you as to whether or not the companies you’re dealing with are trustworthy. Knowing that information can be worth a lot of money to you.
Who is Dun & Bradstreet and What Do They Do?
Dun & Bradstreet (“D&B”) actually got started back in 1841. The company has gone through a lot of evolutionary changes in more than 170 years to become the company that they are today.
The company maintains over 225 million records on businesses in the US and from around the world. The company claims to have a bigger business database than any other organization in the world. Having access to this information could help you to take on new opportunities, mitigate risk, streamline operational practices, and engage new audiences.
D&B provides two solution sets that meet a diverse set of customer needs globally:
- D&B Risk Management Solutions – This service works to mitigate credit and supplier risk, increase cash flow and drive increased profitability.
- D&B Sales & Marketing Solutions – This service provides data management capabilities that provide effective and cost efficient marketing solutions and to convert prospects into clients by enabling business professionals to research companies, executives and industries.
The combination of these two services can provide a business owner with indispensable information and resources that will enable you to grow your business while keeping risk to an absolute minimum.
How Dun & Bradstreet Works
D&B starts with the D-U-N-S Number, which is a unique nine digit identification number for your business. You can establish your own number, and do so at no cost. This is a unique, location specific identifier that allow you to accurately gauge and communicate your company’s creditworthiness.
Once you have the number, it cannot be reused or assigned to another business. It is recognized globally by more than 200 industry and trade associations, including the United Nations, the European Commission, and the US federal government.
And much like a Social Security number issued to individuals, the D-U-N-S Number is issued on most other businesses around the world. This gives you the ability to research those companies through specific reports that you can purchase through D&B.
Some of the benefits that come from D-U-N-S Numbers include:
- Consolidate, cleanse and eliminate duplicate records within your databases
- Streamline the information held in disparate databases and improve customer service by linking related customer accounts to support a “one customer” view
- Identify risk exposure and highlight cross-selling opportunities within the same corporate family group
- Integrate your internal systems by linking payables/receivables and tracking business documentation to the business entity and location level
- Link interrelated suppliers to enable you to leverage your corporate buying power
- Integrate additional demographic information from D&B to provide a profile of your customers, suppliers and prospects.
Improve your business credit by getting a D&B D-U-N-S Number Click here to get one
Dun & Bradstreet Benefits and Features
Here is a list of the major benefits to working with D&B, as well as the prices for each service where available:
- Business Background Report. Summary information of the background of a company and its senior management, and it’s stored online for 6 months. This will likely be the most common report you will need, as it will give you an opportunity to do a credit check on companies you do business with ($30.99 per report).
- DNBi CreditAdvisor Report. This is one continuously updated, comprehensive report with monitoring stored online for 12 months ($188 Per report or $578 for five reports).
- Country RiskLine Report. This is a 7 page report to evaluate risk of doing business in a single country. Historical and future economic indicators are included ($89 per report per country).
- Country Insight Report. In-depth information for evaluating critical trade and investment decisions. Business forecasts and D&B Country Risk Indicator included ($649 per report per country).
- Comprehensive Insight Plus Report. D&B’s most robust report for in-depth risk assessment – it’s stored online for 6 months ($151.99 per report).
- Business Information Report. Industry standard report for moderate risk assessment, also stored online for 6 months ($121.99 per report).
- Credit eValuator Plus Report. A report with key critical insight for quick and easy risk assessment, stored online for 6 months ($61.99 per report).
- International Comprehensive Report. D&B’s most robust international report for in-depth risk assessment, stored online for 6 months (price varies).
- International Business Information report. Industry standard report for moderate risk assessment, stored online for 6 months (price varies).
Some other specific Dun & Bradstreet products of note include:
This is an expedited D&B D-U-N-S Number, and it can help you to:
- Start documenting your business credit in your D&B® credit file (at least a basic D&B business credit file) in just 5 days
- Demonstrate your company’s financial stability to creditors and suppliers
- Join D&B’s business network, searched over 58 million times a year
- Capitalize on potential contracts that require a D-U-N-S
DUNSFile can be especially helpful if you find yourself suddenly doing business with a company or agency that requires you to have an established D-U-N-S Number and business credit report. The cost of DUNSFile is $229.
CreditBuilder is the package that really opens up the D&B product menu to you. It provides the following benefits:
- Get a D&B D-U-N-S Number and business credit file in 5 business days or less
- Enjoy unlimited access to your D&B scores and ratings
- Add positive payment experiences to your business credit file
- Benchmark your company against your industry medians and 1 key peer
- Get alerts when others run your business credit report
- Provides access to D&B’s CreditReporter mobile app
CreditBuilder customers also receive Business Advantage Plus, which is powered by legalzoom.com. It provides unlimited online access to 160+ legal forms, and alerts to help keep your company in good standing with the government.
Building a strong business credit file can help your business qualify for loans, lower your interest rates on existing loans, attract new customers, improve your cash flow, and negotiate better payment terms. CreditBuilder will help you to build that all-important business credit file.
The cost for CreditBuilder is $84 per month, or $949 per year.
Small Business Starter
The Small Business Starter program can help you to:
- Get an expedited D-U-N-S Number in 5 business days or less
- Establish a basic D&B business credit file
- Get a premium profile in the D&B Credibility Review business directory
- Display a D&B Credibility badge on your website that links to your directory profile
The Small Business Starter can help you start documenting your business credit in your D&B credit file in just 5 days, and demonstrate your company’s financial stability to creditors and suppliers. The included D&B Credibility Review can help you to customize your company’s business profile. That will help promote your business with a business description, logo, custom video, and photos. It can also enhance your rank on major search engines, and keep customers informed with optional Twitter, Linked In, and Yelp feeds.
The cost for the Small Business Starter is $599.
Can Dun & Bradstreet Help Your Business?
So much of the business world today runs on third-party verification systems. Credit reports and business profiles are two of those verifications. Since they will come from an internationally recognized and respected organization like Dun & Bradstreet, your credibility will improve instantly.
In addition, D&B will provide you with access to the same reports for many of the businesses that you are dealing with on a regular basis. This can be especially important when you’re dealing with foreign-based business entities. You have an opportunity to see their track record both before and during your time doing business with them.
Having insider information on the companies that you work with is an important part of expanding your business. As your business grows, the number of companies that you will deal with – and complexity of those arrangements – will also increase. You’ll need the ability to verify those companies, as well as to have similar verification available of your own business, in order to continue to grow.
Virtually all large and aspiring businesses have some type of relationship with Dun & Bradstreet. You should do the same if you want to grow your business to new levels.