Companies collect vast amounts of data on their customers and prospects, but they can only use it to effectively grow revenues and contain costs when they have a way to get insight from what they’ve gathered.
To profit from the data, it needs to be:
so it provides the most complete view possible of customers, prospects and vendors. Once this process has taken place, analytics can be performed yielding insights that enable profitable decision-making.
To do all of this more quickly and easily, companies around the world have come to rely on the D&B D-U-N-S Number.
The D-U-N-S Number, developed by Dun & Bradstreet in 1962, is a unique global business identification system that identifies, validates, and relates more than 235 million businesses worldwide. Only the D-U-N-S Number lets you keep track of these businesses and integrate information from various sources to make it understandable and useful.
Because of the D-U-N-S Number’s unique attributes, it is at the core of the D&B DUNSRight® process. DUNSRight® and the D-U-N-S Number help customers around the globe gain profitable insights from their data.
Leveraging the D-U-N-S Number to manage your data has clear competitive advantages:
In addition to helping you gain insight from your existing data, the D-U-N-S Number can facilitate your process for making transactional credit and marketing decisions more easily. For example, if you are deciding whether to extend credit to a prospect and on what terms, the D-U-N-S Number helps you to identify the right company on which you are making a decision. It can also link you to other companies in a prospects’ corporate family where additional hidden risk may exist such as a financially troubled parent company. And it enables you to connect to predictive scores that can help you predict the likelihood of bad debt, slow pay, and fraud.
Similarly, in the area of sales and marketing decisions, you can better identify prospects, find new opportunities within corporate families, and connect to predictive scores to identify likely purchase and response rates.
The D-U-N-S Number functions in a variety of ways to help businesses grow revenue and contain costs:
In Credit Risk Management – Proven Ways to Manage Your Risk Exposure.
The D-U-N-S Number enables you to understand a complete picture of risk for an individual company or an entire portfolio. It uniquely identifies each entity and then links that identity to all members of its corporate family so you can better understand your total risk exposure to that identity, including potentially hidden risk exposure, such as a financially troubled parent company. The D-U-N-S Number also enables precise matching of a business to predictive scores that help predict the likelihood of that company being fraudulent, paying slow or going out of business.
In Sales & Marketing – New Ways to Grow Revenues and Profits.
The D-U-N-S Number enables you to cleanse your marketing database of duplication and errors, identify each company including their corporate family, and append additional information to enhance your marketing effectiveness. For example, you can append predictive scores to pre-screen prospects for their ability to buy, pay, or respond to your offer. By working with more complete accurate marketing information enabled by the D-U-N-S Number, you can improve response rates, uncover new opportunities, and make your marketing dollars work harder.
The D-U-N-S Number can help you make informed decisions on other companies. But why is it important to have a D-U-N-S Number on your own company? Having a D-U-N-S Number of your own helps you nurture your business reputation and improve profitability:
Presents a more robust profile to potential partners when you are moving into new ventures or markets
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