If you’re a business owner or entrepreneur, you’ve probably heard of Dun & Bradstreet (D&B). But what exactly is D&B? What does it offer, and how do you use it? In this article, we’ll answer all these questions and more as we dive into this important financial tool.
What is Dun & Bradstreet (D&B)?
Dun & Bradstreet (D&B) is a business information and credit reporting agency. It offers a range of products and services that help businesses manage and monitor their credit ratings, as well as stay up-to-date on their industry trends and company information.
One of the key services offered by Dun & Bradstreet is their D-U-N-S Number, which is a unique nine-digit identifier for businesses. This number is used by companies and governments around the world to identify and verify the legitimacy of a business. It is also used by credit reporting agencies to track a business’s credit history and creditworthiness.
In addition to credit reporting and business information services, Dun & Bradstreet also provides marketing solutions to help businesses reach their target audience. This includes targeted advertising, lead generation, and data management services. By leveraging their extensive database of business information, Dun & Bradstreet can help companies identify and connect with potential customers more effectively.
The history of Dun & Bradstreet (D&B)
Dun & Bradstreet has a long history dating back to 1841 when it was founded by Lewis Tappan and Benjamin Douglass. Originally called The Mercantile Agency, it was formed to help New York City merchants report on the creditworthiness of their customers.
Over the years, the company expanded its offerings and eventually became known as Dun & Bradstreet in 1933 after two of its leading competitors, Dun and Bradstreet and R.G. Dun & Co., merged.
During World War II, Dun & Bradstreet played a crucial role in helping the US government with its war efforts. The company provided intelligence reports on foreign companies and countries to help the government make informed decisions. This led to the creation of the DUNS number, a unique nine-digit identifier for businesses, which is still used today.
In recent years, Dun & Bradstreet has continued to evolve and adapt to the changing business landscape. In 2019, the company was acquired by a group of investors and taken private. Today, Dun & Bradstreet offers a wide range of data and analytics solutions to help businesses make informed decisions and manage risk.
How Dun & Bradstreet (D&B) works
Dun & Bradstreet works by collecting credit and business information about companies and selling that information to other businesses or organizations. This helps businesses make informed decisions about which companies to do business with, and on what terms.
One of the key ways Dun & Bradstreet collects this information is through its proprietary D-U-N-S Number system. The D-U-N-S Number is a unique nine-digit identification number assigned to businesses. Think of it as a social security number for your business.
Using this unique identifier, Dun & Bradstreet is able to compile data on everything from a company’s financial history and payment behavior to its corporate structure and industry classifications.
In addition to the D-U-N-S Number system, Dun & Bradstreet also collects information through public records, trade references, and other sources. This allows them to provide a comprehensive view of a company’s creditworthiness and business practices.
Dun & Bradstreet’s services are used by a wide range of industries, including finance, insurance, and government agencies. By providing accurate and up-to-date information, Dun & Bradstreet helps these industries mitigate risk and make informed decisions.
What does Dun & Bradstreet (D&B) offer?
Dun & Bradstreet offers a variety of products and services to meet the needs of businesses of all sizes. Some of its most popular offerings include:
- Credit reporting
- Marketing data
- Industry and company research reports
- Supplier risk management solutions
In addition to these offerings, Dun & Bradstreet also provides business credit monitoring services, which allow businesses to keep track of their credit scores and receive alerts when there are changes to their credit reports. This can help businesses stay on top of their financial health and make informed decisions about their credit and financing options.
How to use Dun & Bradstreet (D&B)
Using Dun & Bradstreet is relatively straightforward. To get started, you’ll need to register for a D-U-N-S Number, which you can do online. Once you have a D-U-N-S Number, you can start accessing Dun & Bradstreet’s various products and services.
You can use Dun & Bradstreet to help make informed decisions about which companies to do business with, as well as to monitor your own company’s credit and financial health.
Additionally, Dun & Bradstreet provides valuable insights and analytics on industry trends and market intelligence. This information can help businesses stay ahead of the competition and make strategic decisions based on data-driven insights.
The benefits of using Dun & Bradstreet (D&B)
There are many benefits to using Dun & Bradstreet’s products and services. For one, it can help you make better-informed decisions about which companies to do business with. It can also help you monitor your company’s credit and financial health, which is important for getting business loans and financing.
Additionally, using Dun & Bradstreet can help you stay up-to-date on industry trends and company information, which can help you make more informed strategic decisions about your business.
Another benefit of using Dun & Bradstreet is that it can help you identify potential risks and opportunities in your industry. By analyzing data and providing insights, D&B can help you stay ahead of the competition and make proactive decisions to grow your business.
Who uses Dun & Bradstreet (D&B)?
Many different types of businesses and organizations use Dun & Bradstreet’s products and services. This includes everything from Fortune 500 companies to small businesses and startups. Banks and other financial institutions also use Dun & Bradstreet to assess the creditworthiness of potential borrowers.
In addition to businesses and financial institutions, government agencies also rely on Dun & Bradstreet’s data and insights. This includes federal, state, and local government entities that use D&B’s information to make informed decisions about procurement, contracting, and risk management.
Non-profit organizations and educational institutions also use Dun & Bradstreet to gain insights into potential donors, partners, and vendors. By leveraging D&B’s data, these organizations can make informed decisions about who to work with and how to allocate resources.
How to access and use the D-U-N-S Number
To access and use the D-U-N-S Number, you’ll need to register for one with Dun & Bradstreet. You can do this online, and the process is relatively simple.
Once you have a D-U-N-S Number, you can use it to access a range of Dun & Bradstreet’s products and services.
It’s important to note that having a D-U-N-S Number can also benefit your business in other ways. For example, many government agencies and large corporations require a D-U-N-S Number to do business with them. Additionally, having a D-U-N-S Number can help establish your business’s creditworthiness and credibility with lenders and suppliers.
How to improve your company’s D&B credit score
If you want to improve your company’s D&B credit score, there are a few things you can do. First, make sure you’re paying your bills on time and in full. This is one of the biggest factors that goes into your credit score.
You can also work to build up your credit history by opening new credit accounts and using them responsibly. This can include everything from credit cards to business lines of credit.
Another way to improve your D&B credit score is to keep your credit utilization ratio low. This means not using too much of your available credit at once. Aim to keep your credit utilization ratio below 30%.
Additionally, regularly checking your credit report for errors and disputing any inaccuracies can also help improve your score. It’s important to monitor your credit report to ensure that all the information is correct and up-to-date.
Common misconceptions about Dun & Bradstreet (D&B)
One common misconception about Dun & Bradstreet is that it only focuses on providing credit reporting for large businesses. While it’s true that many large businesses use Dun & Bradstreet, the company also offers products and services tailored to small businesses and startups.
Another common misconception is that Dun & Bradstreet’s credit reports are the only factor that lenders and other businesses use when evaluating your creditworthiness. While Dun & Bradstreet’s reports are an important part of your overall credit profile, they’re not the only factor that lenders and other businesses look at. Other factors, like your payment history and credit utilization, also play a role.
It’s also important to note that Dun & Bradstreet offers more than just credit reporting services. The company provides a range of solutions to help businesses manage risk, improve their sales and marketing efforts, and make informed decisions about potential partners and suppliers.
Additionally, some people believe that Dun & Bradstreet is a government agency or affiliated with the government. However, Dun & Bradstreet is a private company that has been around for over 180 years, and it operates independently from any government entity.
The difference between DUNSRight and CreditSignal
DUNSRight and CreditSignal are two of Dun & Bradstreet’s most popular products. DUNSRight is a comprehensive credit reporting service that provides detailed information on a company’s creditworthiness and financial health. CreditSignal, on the other hand, is a free monitoring service that alerts you when there are changes to your company’s credit profile.
One of the key differences between DUNSRight and CreditSignal is the level of detail provided. DUNSRight offers a more comprehensive view of a company’s credit history, including payment behavior, financial statements, and trade references. CreditSignal, on the other hand, provides a more basic overview of a company’s credit profile, including changes to credit scores and ratings.
Another difference between the two products is the cost. While DUNSRight is a paid service, CreditSignal is completely free. This makes CreditSignal a great option for small businesses or startups that may not have the budget for a paid credit reporting service.
Frequently asked questions about Dun & Bradstreet (D&B)
Some common questions people have about Dun & Bradstreet include:
- What is the D-U-N-S Number?
- How do I register for a D-U-N-S Number?
- What types of businesses use Dun & Bradstreet?
- How can I use Dun & Bradstreet to improve my credit score?
- What’s the difference between DUNSRight and CreditSignal?
Dun & Bradstreet is a global provider of business information and insights. They offer a wide range of solutions to help businesses manage risk, improve performance, and grow. Some of their popular solutions include credit monitoring, supplier risk management, and sales and marketing solutions.
One of the key benefits of using Dun & Bradstreet is that it can help businesses make informed decisions about who they do business with. By providing access to comprehensive business data, including financial information, credit scores, and risk assessments, businesses can better understand the risks and opportunities associated with potential partners, suppliers, and customers.
Comparing Dun & Bradstreet (D&B) with other credit bureaus
Dun & Bradstreet is just one of several credit reporting agencies out there. Some of its biggest competitors include Experian, Equifax, and TransUnion. While each of these agencies provides similar services, they all have their own unique strengths and weaknesses.
One of the biggest benefits of using Dun & Bradstreet is that it specializes in providing business credit reporting. If you’re a business owner or entrepreneur, this can make it a more valuable tool than some of the other credit bureaus out there.
Another advantage of Dun & Bradstreet is that it offers a unique D-U-N-S number, which is a nine-digit identifier for businesses. This number is widely recognized and used by companies and governments around the world, making it easier for businesses to establish credibility and build relationships with other organizations. Additionally, Dun & Bradstreet provides a range of business solutions, such as marketing and sales tools, risk management services, and supply chain management solutions, which can help businesses make informed decisions and grow their operations.
The future of credit reporting with Dun & Bradstreet (D&B) technology
The future of credit reporting is likely to see even more use of technology and automation. This is an area where Dun & Bradstreet is well-positioned to succeed. The company has already made significant investments in artificial intelligence and other emerging technologies, which should help it continue to stay at the forefront of the credit reporting industry.
One of the key advantages of using Dun & Bradstreet technology for credit reporting is the ability to access a vast amount of data. The company has a database of over 330 million global businesses, which provides a wealth of information for credit reporting purposes. This data can be used to help businesses make informed decisions about who to extend credit to, and at what terms.
In addition to its data capabilities, Dun & Bradstreet is also focused on improving the user experience for its customers. The company has developed a range of tools and platforms that make it easier for businesses to access and analyze credit information. This includes a mobile app that allows users to access credit reports on the go, as well as a range of APIs that can be integrated into other business systems.
Case studies: businesses that have benefited from using Dun & Bradstreet (D&B)
There are many businesses that have benefited from using Dun & Bradstreet’s products and services. One example is the startup fitness company ClassPass. By using Dun & Bradstreet’s credit reporting and marketing data, ClassPass was able to make more informed decisions about which gyms and fitness studios to partner with, as well as how to better market its services to customers.
Another business that has benefited from using Dun & Bradstreet is the software company Salesforce. By leveraging D&B’s data and analytics, Salesforce was able to identify new sales opportunities and improve its sales and marketing strategies. This resulted in increased revenue and a stronger market position for the company.
In addition, the financial services company American Express has also seen positive results from using Dun & Bradstreet’s services. By utilizing D&B’s credit reporting and risk management tools, American Express was able to better assess the creditworthiness of its customers and reduce its exposure to financial risk. This has helped the company to maintain a strong financial position and continue to grow its business.
Understanding the importance of business credit for small businesses
For small businesses, having strong business credit is essential. It can help you get better financing terms, secure better business partnerships, and ultimately grow your business more quickly.
Using resources like Dun & Bradstreet can help you build a strong business credit profile, which should pay off in the long run.
One of the key benefits of having strong business credit is that it can help you separate your personal and business finances. This can be especially important for small business owners who may have used personal credit to start their business. By establishing strong business credit, you can reduce your personal liability and protect your personal assets.
Another advantage of having good business credit is that it can help you attract new customers. Many businesses, particularly larger corporations, prefer to work with suppliers and vendors who have a strong credit history. By having a solid business credit profile, you can position your company as a reliable and trustworthy partner, which can help you win new business and grow your customer base.
Tips for building a strong business credit profile with the help of Dun & Bradstreet (D&B)
To build a strong business credit profile with the help of Dun & Bradstreet, focus on paying your bills on time, using credit responsibly, and keeping an eye on your credit reports.
You can also use Dun & Bradstreet’s marketing data and industry insights to identify new growth opportunities and make more informed strategic decisions about your business.
Overall, Dun & Bradstreet is an essential tool for any business owner or entrepreneur. By providing critical credit reporting and business information, it’s an invaluable resource for making informed decisions and growing your business over time.
Another important aspect of building a strong business credit profile with Dun & Bradstreet is to ensure that all of your business information is accurate and up-to-date. This includes your business name, address, and contact information. Any discrepancies or errors can negatively impact your credit score and overall profile.
In addition, it’s important to establish relationships with vendors and suppliers who report to Dun & Bradstreet. This can help to build your credit history and improve your creditworthiness over time.
