Why have an NZBN?
There are so many great reasons for any business to have an NZBN, take a look.
An NZBN makes it easier to do more business, faster
As more businesses get and use their NZBN, it will be easier for you to invoice and pay bills, apply for credit and positively identify other businesses. It will save you time and money as you won’t have to update key information multiple times, in a variety of ways.
Procurement and invoicing will be more efficient, and business transactions, such as onboarding new customers and suppliers through to preparing contracts, will be faster and simpler. It will become more common to use your NZBN when dealing with customers, other businesses, your accountant, banks and government agencies.
- Let’s say a new customer is onboarding you as a supplier, they can use your NZBN to automatically flow through their onboarding process, pre-populating forms with your address, phone number, contact details and more, so you don’t have to spend time manually filling in that information. Using your NZBN is faster and smarter.
Make smarter business decisions with the right information
Because the NZBN sources information from a number of different business registers (e.g. Companies Register, Incorporated Societies Register etc.) you’ll be able to get a 360° view of business, as you’re doing business with them.
- For example, if a business closes or ceases trading, the NZBN Register will reflect that. If you’re using the NZBN you’ll be aware of that change and can make an informed decision about whether you continue that business relationship.
Easier to deal with government
Increasingly, government agencies such as ACC, MBIE and Inland Revenue are using the NZBN to access details about Kiwi businesses. By the end of 2018 government agencies that deal most often with businesses will be able to identify you when you provide your NZBN.
Your business might be a supplier to government too, so, if you’re tendering, contracting or providing services to government, it’s so much easier if those agencies can access key information about you using your NZBN.
Eventually, when you update your core business information it will automatically update with every government department. That means more time to grow your business.
Telling everyone once saves time, a lot of time
All NZBNs are held in a central register. Keeping your core information updated on the NZBN Register means that over time your key business contacts (including government agencies) can use the NZBN to access your up-to-date information – no more separate phone calls and emails to let your business network know of changes.
Imagine if your business is moving premises. Update your NZBN core business information and you won’t have to repeat yourself to the telephone company, the Companies Office, your energy provider, the city council, or your water cooler provider. This saves you time and money.
Your customers and suppliers are getting on board
More and more businesses are implementing the NZBN into their processes and systems. Some of these businesses will be your customers or suppliers now or in the future. They’ll be asking for your NZBN so they can use your core business information.
Now’s a great time to get your NZBN so that when you’re asked for it, you’re ready. Once customers and suppliers can integrate your NZBN into their systems, and you can integrate their NZBN into yours, the NZBN will become central to the way you do business.
An NZBN shows businesses are legitimate
Through your NZBN, your customers, suppliers and government agencies can see your core business information which instantly tells them your business is credible, real and tangible, giving them peace of mind in dealing with you. The more core information you share and make public about your business, the better it is for everyone.
Of course you can see and use their core information too, so you can make the same assessment about their business, giving you both confidence in the business relationship.
Build rich relationships
Using your NZBN helps your contacts, suppliers and customers get to know your business better, and you to know theirs. By using your NZBN you’re setting the platform to maximise future opportunities, allowing you to grow your business relationship and do more together, more often. Encourage your customers and suppliers to get their NZBN and really get things moving.
It’s the future of business and it’s evolving
Using your NZBN is a key building block for the digital age, enabling your business to be well positioned to take advantage of our growing electronic economy.
As more Kiwi businesses start using their NZBN, and share more information, the possibilities are very exciting. You’ll be able to link together different sources of data to build up a better picture of a business, and make more informed decisions based on that information. For example, you’ll be able to evaluate potential vendors or contractors, procure service providers, trace a supply chain, and build preferred supplier lists.
When you can see your business network and understand the relationship between thousands of organisations, the possibilities are endless.
The NZBN has been designed to help Kiwi businesses, and we’re just getting started. As the NZBN evolves, businesses will develop uses and benefits that we can’t even conceive yet. Now that’s exciting.
Future-proofing for business across the Tasman, and across the world
Your NZBN is a globally recognised number, (it’s called a Global Location Number - GLN) so when you use it, any business across the world can recognise you, and use your core business information when they’re interacting with you. That’s powerful future-proofing for the next wave of digital innovation.