Selecting and managing third parties that are financially viable is critical to a prolonged and healthy partnership. With a vast third party base, it often becomes challenging for organizations to identify and assess third parties. Dun & Bradstreet D U N S numbers are often referenced by organizations to help predict the reliability and financial stability of third parties in the network. D U N S, which stands for Data Universal Numbering System, is used to maintain up-to-date and timely information on more than 330 million global businesses. The D U N S Number also enables identification of relationships between corporate entities (hierarchies and linkages), another key element of Live Business Identity and commercial risk assessment practices.
The MetricStream and Dun & Bradstreet Integrated Offering
MetricStream Third-Party Management App integrates with Dun & Bradstreet to update the third party’s profile within MetricStream and receive financial risk information alerts from D&B. The integration helps customers validate and enrich third party information. Right from screening, onboarding, to continuous monitoring, the app enables users to monitor third parties based on insights on credit/financial risk. The third parties can also be prioritized based on their risk profile and credit worthiness ensuring efficiency and effectiveness of a third party risk management program.
Improve accuracy, consistency and transparency of third party information with D‑U‑N‑S numbers, a universal standard for tracking businesses worldwide.
Make better risk based decisions while screening and qualifying third parties with comprehensive data on reliability and/or financial stability of third party risks from D&B.
Enable financial risk prioritization with insights on business credit and financial risk for third parties.