Keeping Up With The Latest: A Guide To Updating Your DUNS Information

Introduction:

Keeping your business information up-to-date and accurate is crucial, yet many companies find this task to be challenging, especially when it comes to updating their Data Universal Numbering System (DUNS) information. DUNS is a unique identification number assigned to businesses by Dun & Bradstreet (D&B), the leading commercial data provider. In this guide, we’ll discuss the importance of keeping your DUNS information current, common mistakes to avoid, and how to update your DUNS information efficiently.

Why Keep Your DUNS Information Up-To-Date?

Your DUNS number is not only a unique identifier for your business but is essential for establishing a credit profile. Creditors use this information to evaluate the creditworthiness of your business and determine whether it’s a viable candidate for loans or vendor partnerships. Therefore, keeping your DUNS information up-to-date not only improves your chances of securing credit but also ensures that other businesses can easily locate and work with you.

Common Mistakes to Avoid:

Many businesses fail to keep their DUNS information up-to-date, which can result in missed opportunities and lost revenue. Some of the most common mistakes to avoid when updating your DUNS information include:

– Not verifying the accuracy of your information before submitting it to D&B
– Failing to update your company’s address, phone number, or contact information after relocating
– Ignoring notifications from D&B to update your company’s information
– Not keeping track of key changes such as mergers, acquisitions or name changes

How to Update Your DUNS Information Efficiently:

Now that you understand the importance of keeping your DUNS information up-to-date and the common mistakes to avoid let’s discuss how to update your DUNS information efficiently. Here are some steps to follow:

Step 1: Create an account with Dun & Bradstreet

To update your DUNS information, you need to have an account with D&B. Once you create an account, you can access and update your information.

Step 2: Verify your current information

Before making any updates, you should verify the accuracy of your current information. This includes ensuring that your company’s address, phone number, contact information, and other details are up-to-date and accurate.

Step 3: Make necessary updates

Once you’ve verified your current information, you can make necessary updates through your D&B account. This may include adding new products or services, updating financial information, or informing D&B about any recent changes, such as mergers or acquisitions.

Step 4: Get a DUNS rating

D&B assigns ratings to businesses based on their creditworthiness. If you want to improve your rating, make sure to update your DUNS information regularly.

Conclusion:

Updating your DUNS information is crucial for maintaining an accurate representation of your business and securing credit worthiness. Some common mistakes to avoid include: not keeping track of key changes, ignoring notifications from D&B, and failing to verify the accuracy of your company’s information. Efficiently updating your DUNS information involves creating an account with D&B, verifying the accuracy of your current information, making necessary updates, and improving your DUNS rating. By following these steps, you can keep your business information up-to-date and ensure its success.