Why Your Business Needs to Stay Updated with DUNS Information
As a business owner or manager, have you ever wondered why keeping your company’s DUNS information updated is important? Well, the simple answer is that it can open up new doors of opportunities for your business and give you a competitive edge in today’s fast-paced business world. In this article, we will explore the reasons why your business needs to stay updated with DUNS information, along with some case studies to support the points discussed.
What is DUNS Information?
DUNS (Data Universal Numbering System) is a nine-digit identification number assigned to businesses by Dun & Bradstreet, a global data analytics company. The number is unique to each business and is used to establish creditworthiness, credibility, and reputation in the business world. The DUNS number is recognized worldwide and is often required by government agencies, potential partners, and customers when conducting business transactions.
Why is it Important to Keep DUNS Information Updated?
Keeping your DUNS information updated is essential for your business because it can help you stay competitive in the market and attract new partners and customers. Here are some reasons why:
Establishes Credibility and Reputation
Updating your DUNS information regularly lets potential partners and customers know that you are a reliable and trustworthy business. It shows that you take your business seriously and are committed to maintaining accurate records. This can help you win new business and build long-term relationships with your partners and customers.
Improves Creditworthiness
Keeping your DUNS information updated can also improve your creditworthiness. Your DUNS number is used by credit reporting agencies to determine your credit score and risk rating. Accurate and up-to-date DUNS information can improve your credit score and lower your risk rating, making it easier for you to get loans, leases, and credit lines.
Increases Visibility and Exposure
Having updated DUNS information can increase your business’s visibility and exposure. By keeping your business information accurate and up-to-date, you can improve your search engine rankings, making it easier for potential partners and customers to find you online. This can lead to more leads, more sales, and more business growth.
Case Studies: The Importance of DUNS Information
Let’s look at some real-life examples of how updating DUNS information can benefit your business:
Case Study 1: J&J Medical Devices
J&J Medical Devices is a global medical device company with operations in more than 60 countries. In 2018, the company updated its DUNS information, which helped it secure a $250 million line of credit from a major bank. The updated information showed that J&J had a strong financial position and a low risk rating, making it an attractive candidate for the loan.
Case Study 2: XYZ Corporation
XYZ Corporation is a small business that provides IT services to other businesses. In 2020, the company updated its DUNS information, which led to an increase in its search engine rankings. As a result, the company saw a 20% increase in website traffic and a 10% increase in leads, leading to more business growth and revenue.
Conclusion
In conclusion, keeping your DUNS information updated is crucial for your business’s success. It can help you establish credibility, improve your creditworthiness, increase visibility and exposure, and open up new doors of opportunities. By ensuring that your DUNS information is accurate and up-to-date, you can give your business a competitive edge and position yourself for long-term success in the business world.
