Introduction to DUNS Numbers
A DUNS number is an identification number assigned to business entities by Dun & Bradstreet, a business credit reporting agency. While LLCs are not required to have a DUNS number, other business entities may be required to have one to do business with the federal government or to participate in certain government programs. Dun & Bradstreet helps companies improve their business performance through data and insights delivered through our Data Cloud and Live Business Identity.
Understanding PAYDEX Scores
Dun & Bradstreet provides business credit reports to see clearly and quickly what a company’s payment behavior is. Dun & Bradstreet assigns PAYDEX Scores on a scale of 1 to 100, with 100 being the best possible score. Scores are divided into three Risk Categories, with 0 to 49 indicating a high risk of late payment, 50 to 79 indicating a moderate risk, and 80 to 100 indicating a low risk.
Importance of Updating Business Information
Companies generate over 100 million company reports globally. Companies typically report basic information such as business name, address, phone number, and industry classification to Dun & Bradstreet. They may also provide financial data, payment history, and details about their ownership and management. It is recommended to update your company’s information at least once a year or whenever there are significant changes in your business.
Evaluating Creditworthiness
The Dun & Bradstreet (D&B) company credit report displays a wide range of corporate information, such as operational statistics and public filings. D&B also provides PAYDEX® business credit scores ranging from 1 to 100, based on data from public records and information submitted directly from vendors and collection agencies. D&B reports reveal a company’s overall health and status. Creditors evaluate your creditworthiness based on the information on your D&B credit report.
Conclusion
In conclusion, Verizon Business does report its financial information to Dun and Bradstreet. This reporting practice enhances Verizon Business’s reputation, facilitates access to credit and financing, and promotes more informed decision-making for potential partners and suppliers.