Ukrainian companies, which after the start of the full-scale war have been more actively entering new foreign markets, are increasingly facing the need to check foreign partners even before the start of negotiations or the signing of a contract. One of the tools for such checks is the international business data of Dun & Bradstreet, access to which in Ukraine is provided by D&B and Interfax-Ukraine.
Counterparty verification is especially important for exporters, importers, logistics companies, manufacturers, distributors and suppliers working with companies from the EU, the United States, the Middle East, Turkey and Asia. For business, this is not only about a formal check of registration data, but also about assessing financial stability, ownership structure, business activity, possible non-payment risks and reputational factors.
“For Ukrainian business, entering foreign markets today often takes place faster than the formation of its own international history. That is why checking a partner through global business data is becoming not a bureaucratic procedure, but an element of company protection. In conditions of war and complicated logistics, a mistake in choosing a counterparty may cost not only money, but also time, a market and customer trust,” said Maksym Urakin, Development and Marketing Director of Interfax-Ukraine, head of the D&B-Interfax-Ukraine business unit, Candidate of Economic Sciences.
According to him, Ukrainian companies often check a foreign partner only after a problem arises with payment, supply or fulfillment of contract terms. Instead, international practice provides for a preliminary assessment of a counterparty even before the start of active cooperation.
Assistance from D&B and Interfax-Ukraine may be useful for companies that want to understand whom they are working with abroad, whether the partner is actually carrying out the declared activity, how stable it is and what risks may arise in long-term cooperation.
For Ukrainian exporters, this is also a way to improve the quality of their own risk management. If a company sells products with deferred payment, works through distributors or enters a new region, a preliminary check of the partner makes it possible to reduce the likelihood of financial losses.
Dun & Bradstreet is an American company in the field of business data, analytics, commercial information and risk management, founded in 1841. The company provides international tools for business identification, counterparty verification, assessment of credit and commercial risks, compliance and work with global supply chains. D&B maintains a global business data database and works with companies, financial institutions, government agencies and international organizations.
Interfax-Ukraine is an independent Ukrainian news agency that has been operating in the Ukrainian market of political and economic information since 1992 and has a reputation as an authoritative and competent provider of timely and objective information. The agency’s editorial office and headquarters are located in Kyiv.
