The Vendor and Procurement due diligence package

$190.00

Business made easier.

What should you check before entering into an agreement with a third party such as a vendor or supplier of goods or services?

Good relationships are an essential part of a successful business and in many ways and those relationships you enter into are often seen as an extension of your organisation. You place a lot of trust and in some ways, your companies reputation is in the hands of these companies, but how well do you really know them, their financial status or the people behind the brand?

Vendor or procurement due diligence usually occurs when a company seeks to buy, partner with or enter into a business relationship with another company. Like the customer due diligence process, vendor due diligence is an important component of AML/CFT, serving to reassure potential buyers that their prospects are financially healthy and present acceptable levels of risk.

Background checks are essential prior to commencing any legal or business relationship in order to identify previous history of criminal activity, non payment of invoices, current or past legal disputes, shelf or scam companies, bankruptcy history of directors, comprehensive reporting on a companies long term operations, credit history, profitability and stability etc.

Why? Because entering a relationship with the wrong individual or entity can have lasting and significant consequences for your business. The wrong relationship can mean damage to your brand, and it can even risk of legal action, financial penalties or both.

Let us do the necessary due diligence and generate an easy to read risk profile with all of the documented evidence, so that you can avoid or mitigate any risks identify during the process. The early due diligence will also ensure probity in your selection process and compile a defendable decision log to display professionalism and transparency in your processes.

Online Applicant Identification Verification

We confirm the applicants verification via a secure digital online process trusted by some of the biggest corporations in Australia.

Express Referee Checks

Provide each referee listed on the candidates application with a questionnaire covering a range a essential topics.
Intelligence Studio will conduct an Express Referee check when you require less information and a faster turnaround time. Intelligence Studio will contact each of the applicants listed referees and provide them with a short questionnaire covering a range of essential topics to verify the applicants resume.

Our questionnaire consists of broad-based questions that are designed to give employers enough information to assess a candidate’s past job performance, capabilities and claims made in their resume.

These include the 4 categories below and is suitable to most entry level candidate positions within an organisation.

  • Candidate information
  • Work Ethic
  • Technical skills
  • Personal attributes

If you need a more in-depth assessment of your candidate’s past job performance, our Comprehensive Referee Checks package may better suit your needs.

Open Source and Social Media Presence

We search for both open-source intelligence, which is any data available about the applicant on the open internet as well as all the social media platforms for accounts held by the prospective employee. This data is accessible by anyone including your competitors, investors and customers so we conduct pre-emptive searches to identify any negative exposure the applicant may bring to your company and also give you further insight into their habits, interests and activities.

Bankruptcy Check

Usually only used for roles within the banking and finance sector or if an applicant with have involvement with your company’s finances. A search of Bankruptcy records is a common request amongst leading Australian companies and helps you make informed decisions when hiring, as bankruptcy can be declared for various personal or business reasons. If a candidate has declared bankruptcy in the past, this check will ensure you have all the information you need.

Company Risk of Late Payment Report

To turn payment history into predictive information, we utilise illion’s Late Payment Score. This predicts a company's future payment performance and indicates how quickly your customer is likely to pay you. The Risk of Late Payment report includes illion's Late Payment Score, identification data and company characteristics. The Late Payment Score is driven by illion’s Trade Bureau of over 15 million recent trade experiences across all companies and businesses. This is Australia & New Zealand's largest and most comprehensive database of trade payment information. The report enables you to understand the company's payment habits and provides the probability that the company will pay a trade account in a "severely delinquent" manner (90+ days beyond terms) within the next 12 months through the Late Payment Score.

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Description

The Vendor and Procurement due diligence package includes

  • Identity Confirmation – We confirm the applicants verification via a secure digital online process trusted by some of the biggest corporations in Australia.
  • Express Referee Checks – We will email each listed referee with a with a questionnaire covering a range of essential topics.
  • Open Source and Social Media Presence – We search for both open-source intelligence, which is any data available about the applicant on the open internet as well as all the social media platforms for accounts held by the prospective employee. This data is accessible by anyone including your competitors, investors and customers so we conduct pre-emptive searches to identify any negative exposure the applicant may bring to your company and also give you further insight into their habits, interests and activities.
  • Bankruptcy Check – A bankruptcy check helps you make informed decisions when engaging or partnering with another business, as bankruptcy can be declared for various personal or business reasons. If an entity has declared bankruptcy in the past, a check will ensure you have all the information you need.
  • Company Risk of Late Payment Report – To turn payment history into predictive information, we utilise illion’s Late Payment Score. This predicts a company’s future payment performance and indicates how quickly your customer is likely to pay you. The Risk of Late Payment report includes illion’s Late Payment Score, identification data and company characteristics. The Late Payment Score is driven by illion’s Trade Bureau of over 15 million recent trade experiences across all companies and businesses. This is Australia & New Zealand’s largest and most comprehensive database of trade payment information. The report enables you to understand the company’s payment habits and provides the probability that the company will pay a trade account in a “severely delinquent” manner (90+ days beyond terms) within the next 12 months through the Late Payment Score.

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