D&B for Ukrainian Exporters: How to Increase Foreign Buyers’ Trust

When Ukrainian exporters venture into new markets, they typically concentrate on product quality, pricing, certifications, and logistics. However, it is equally crucial for foreign buyers to comprehend the specific company they are dealing with. This includes understanding the company's ownership, operating history, and ability to meet long-term commitments.

A company's international reputation is not solely built through marketing efforts. Foreign banks, distributors, retail chains, and corporate buyers often rely on external business databases to verify suppliers. If a Ukrainian company's information in these databases is incomplete, inconsistent, or outdated, it could raise concerns even before negotiations commence.

Maksym Urakin, Director of Development and Marketing at Interfax-Ukraine and Head of the D&B–Interfax-Ukraine business division, emphasized the importance of a transparent international business profile. He stated that presenting a company's data in a transparent manner helps lower the information barrier and expedites the transition from an initial introduction to a contract.

Urakin suggested that exporters should examine how their legal name, address, management structure, ownership, industry classification, and other fundamental characteristics are listed in international sources. Special attention should be given to the consistency of the company's English-language name across contracts, websites, banking documents, and international databases.

For Ukrainian exporters, maintaining a consistent company profile is not only essential during the initial transaction but also throughout future business dealings. This profile can be utilized for setting credit limits, insuring trade risks, establishing bank accounts, connecting to procurement platforms, and evaluating suppliers for major corporate customers.

Dun & Bradstreet, an international provider of business data and analytical solutions, offers tools to help Ukrainian enterprises manage their corporate information in international databases. Through the D&B–Interfax-Ukraine service, Ukrainians can access this international business data and verify how their company information is perceived by potential partners abroad.

While transparency in business information does not guarantee a competitive price or superior product quality, it does reduce uncertainty for foreign buyers. In markets where suppliers compete not only on product offerings but also on reliability, transparency becomes a distinct component of export competitiveness. Dun & Bradstreet, founded in 1841, is a global leader in business data and analytical solutions.

The company's services include business identification, counterparty verification, assessment of credit and commercial risks, compliance monitoring, and supply chain management. The official representative of Dun & Bradstreet in Ukraine is the Interfax-Ukraine News Agency. The D&B–Interfax-Ukraine division specifically assists Ukrainian companies in accessing international business data, verifying foreign counterparties, and utilizing D&B tools for their benefit.