Vendor Screening Management
Violations of Executive order 13224 (dealing with terrorist) can result in a fine of
$500000 for corporations while individuals can face $250000 in penalties and up to
ten years in prison even if violation was not intentional. Violators can have their assets frozen.
Most organizations have not established enterprise-wide best practices to screen and
evaluate vendor risk. Today’s business environment requires additional levels of due diligence to remain competitive as well as profitable.
Bottom Line Maximizers vendor screening partners provide a comprehensive solutionto arm your company against potential vendor/suppliers and other third party risks.
Vendor threats such as financial difficulties, criminal records, government sanctions and unethical business relationships can be uncovered quickly. Your company will be able to make sound strategic decisions and be assured vendor checks and balances are working efficiently.
Protection against unforeseen risks that arise across your organizations vendor/supply chain needs to be a priority. Dealing with the wrong vendor can have significant negative effects on your company’s reputation and cause substantial financial risks through fines, theft and loss of business as well as criminal charges.
Do you really know who you are doing business with? Existing relationships are subject to change without your knowledge. We will make sure you know who you’re doing business with and the risks involved. The fully automated credtializing solution will saveyour company valuable time and provide essential risk mitigation.
Benefits of using Bottom Line Maximizers vendor management program includes:
- No Cost to your company. Vendors pay the cost of screening.
- Customizable screening where you decide what criteria is relevant to support your company”s specific risk management guidelines.
- A simplified process for your organization and vendors.
- Proprietary technology provides on going monitoring of each vendor to provide proactive risk mitigation.
- 24/7 web access for sponsoring companies and vendors
- Paperless workflow improves security of personal information. Saves administrative time as well as cost.
- A dashboard that allows you to see where all your screenings are in the process at the touch of a button.
- High quality customer service that performs as a partner and not just a vendor.
Key features of program
Your company will be able to establish specific credential standards for vendors based on
the level of risk mitigation management warranted. Credentialing options include:
- Business entity and owner screening.
- Criminal and sex offender background checks
- Bankruptcy, liens, and Judgment Screening
- Checks against government watch lists to comply with Patriot Act, Executive Order 13224, OFAC and others regulations.
- Insurance coverage verification
- Business license verification
- Conflict of interest identification
- On going monitoring of insurance coverage and business license.
- International screening
Schedule a live vendor screening demo now.
Additional solutions are available for on boarding and employee credentializing. Ask
about how we can help you with your multiple credentializing needs.
Explore how your company will benefit using Bottom Line Maximizers revenue
generating and vendor screening solutions. Recover lost profits and maximize savings
your company should rightfully have.
Contact us today for your no cost/no obligation evaluation and audit.