Why do companies need a unique ID?

Why do companies need a unique ID?

Thousands of companies belong to the same industry; it depends on the nature of their activities. Additionally, it is not uncommon that two or more business entities share the same name. To differentiate them, sometimes we only have some kind of legal or location detail.

That is why assigning a specific identity to a company is essential to establish solid business relationships. There is a code that can differentiate companies by registering their key information and securing its veracity. This code is more than a mere ID; it helps companies demonstrate their business transparency, as it helps them prove they are who they claim to be.

As human beings, we have a DNA that makes us different from other living beings. Companies need a unique ID that sets them apart from other organizations in the world. This is how the D-U-N-S® Number works.

What is a D-U-N-S® Number?

D-U-N-S stands for Data Universal Numbering System. It is a unique nine-digit code used to register and catalog any company in the world. Having this unique and non-transferable ID streamlines local and international business.

How does it work?

The D-U-N-S® Number has key information about a company; it is integrated to the world’s largest commercial database, with over 320 million companies. It secures a company’s legal name, tax ID, industry or line of business, size and contact data.

What is it used for?

The D-U-N-S® Number is an essential business passport that enables companies all over the world to be part of exclusive international markets. It can make investigation processes between companies that plan on working together more efficient. It also avoids duplicated data and it enables the market to consult accurate information.

This unique, non-transferable and universal business ID is a symbol of commercial trust and reliability. This is why an increasing number of companies incorporate the D-U-N-S® Number as a mandatory requirement for enterprises with whom they want to make business.

Get a D-U-N-S® Number for your company with CIAL Dun & Bradstreet. Contact us.

 

Cial D&BWhy do companies need a unique ID?