Keeping Up with the Changes: An Update on DUNS Information

The Data Universal Numbering System (DUNS) is a unique nine-digit identifier provided by Dun & Bradstreet (D&B) to identify business entities. DUNS is the most widely accepted identifier used by both commercial and government entities, making it a critical component of any business’s identity verification and supplier management strategy. D&B recently made some changes to their DUNS database, and it’s important for businesses to stay up-to-date with this information. In this article, we’ll discuss the latest updates on DUNS information and how it affects businesses.

What is the DUNS Number?

The DUNS Number is a unique identifier assigned by D&B to identify businesses worldwide. It’s commonly used by various organizations, including commercial and government entities, to verify a business’s existence and track its activities. A DUNS Number consists of nine digits and is assigned to a business entity that registers for one.

Why is it Important to Keep Up With DUNS Information?

Keeping up with DUNS information is essential for businesses that want to participate in government and commercial procurement activities. Some government agencies and commercial entities require a DUNS number as part of their registration and supplier management process. Additionally, accurate and up-to-date information can help avoid any unnecessary delays or complications when competing for contracts or conducting business.

Recent Changes to DUNS Information

In 2020, when the DUNS database was updated, businesses now need to re-register their DUNS number every year with another review requirement. This means that businesses need to review their information and make any necessary updates every year to remain compliant. Moreover, DUNS became a better identifier for company hierarchies rather than taking a snapshot of the company registration.

How do These Changes Impact Businesses?

The changes made to the DUNS database have a direct impact on businesses that operate in the commercial and government sectors. Companies need to review their DUNS information annually to ensure that accurate data is being displayed. It is also important to ensure that your business is up-to-date with its registration information with any organization that you supply and work with.

Conclusion

All businesses must remain up-to-date with DUNS information to ensure the smooth operation of any activities with government and commercial entities. As we have seen, the recent changes to the DUNS database require businesses to re-register their DUNS number and review their information annually. By doing so, businesses can avoid avoidable delays or complications, making it easier to compete for contracts and maintain compliance.