Dun and Bradstreet Credit Report
A Dun and Bradstreet Credit Report (DNB report) is a comprehensive business profile and credit score based on public and private information about the company in question.
Dun and Bradstreet (DNB) is recognized as a world-wide data collection company supplying information to businesses for marketing and credit reporting purposes.
Dun and Bradstreet Canada help companies to obtain information about other Canadian businesses in order to evaluate risk. Each business record is given a DUNS number, which uniquely identifies the business.
A potential supplier will use a Dun and Bradstreet credit report as part of their decision process in assessing risk. Therefore, companies are encouraged to locate their DUNS number and assist DNB to update their profile. An updated DNB profile can be helpful if your company is looking to obtain trade credit.
To Learn More about Your DNB Report
Call us Toll-Free 1-866-266-0117
The Decline of Creditor Data
Like any credit bureau, a Dun and Bradstreet credit report is only as good as the data the furnishers or trade creditors provide.
In the early days, almost all businesses would upload their aged trial balance to DNB, as well as to other commercial credit bureaus. However, today the number of companies supplying data to the credit bureaus is disappointingly low.
Many companies that once freely gave their customers’ credit data to commercial credit bureaus, no longer do so. They cite the lack of IT resources or fears of competitive intelligence eroding their marketplace.
Priority Credit Management Corp (PCM Corp) is a commercial debt collection agency. With our clients’ consent, we upload all commercial debts assigned for collection to 7 different commercial credit bureaus, including:
- Dun and Bradstreet
- Sterling West Credit
- Groupe Echo
- Credifax Atlantic
- Ansonia Credit Data
Listing unpaid collections with commercial credit bureaus is a helpful tool when collecting past due invoices.
At PCM Corp, we do not report to a company’s credit report until day 61 from the date the creditor engages our services. The reason for the delay is to allow their debtor company time to resolve the debt amicably.
Many times, debts assigned for collection are not cash flow problems but rather communication problems. PCM Corp does not want to impair a company’s Dun and Bradstreet credit report due to a miscommunication.
Credit Data Is A Major Collection Resource
Creditors are asked to extend credit terms to customers all the time, and good commerce means a healthy economy. A Dun and Bradstreet credit report can be a valuable tool.
Credit reporting agencies can mask your company name if you wish, when sharing your list of receivables. Instead of mentioning your company name, they will use your SIC Code (Standard Industrial Classification Code) to protect your firm’s identity while giving other creditors crucial data.
Sometimes companies are given too much trade credit. Accurate credit reporting prevents the over-extension of trade credit.
About PCM Corp
Priority Credit Management Corp specializes in debt recovery for Canadian businesses both nationally and internationally. Since 2005, we’ve been providing the tools and commercial collection services necessary to help commercial businesses collect on debt, improve cash flow, and successfully manage their receivables.
We can also help your business create a universal credit application form template.
If you still have questions about how to utilize a Dun and Bradstreet credit report, or if you would like more information about our commercial debt collection services, please contact us.
We can also be reached by calling toll-free at 1-866-266-0117