The Big Question Why you should think of
Vendor Due Diligence Now?
Authenticity Does the vendor even exist? Are the Government Registrations presented by him during empanelment authentic? Does he have any other real customers? What is the background of its Promoter(s) / Director(s) / Proprietor?
Answers to these questions will help, for Sure!
Capability What is the strength and capability of his staff? What do his current or previous clients have to say about his capability? What do his auditors, bankers, local authorities, vendors or other business partners have to say about him or the company?
Validating Capability of the Vendor will instill confidence, for Sure!
Compliance Has the vendor had any previous history of being involved in corrupt practices or any other negative trade/business practice? Does the vendor or its promoters have any political affiliation or exposure? Is the vendor compliant to various global AML and other regulatory standards like (US) FCPA, UK Bribery Act, (Indian) Prevention of Money Laundering Act etc.
Knowledge of Vendorâ€™s Compliance for processes will help, for Sure!
Conducting a Due Diligence on Vendors Can Unearth Their
Authenticity, Capability and Compliance to Regulatory Standards which helps you partner with the right vendor!
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