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Vendor Vetting

It’s worth remembering that checks can and should also be applied to businesses too. This involves taking the kinds of checks that you would run on an individual but applies them to a corporate entity. Are they who they claim to be? Are they financially healthy? Are the banking and VAT details they gave you correct?

These checks can form an important part of the due diligence undertaken on a potential new supplier. After all, the disruption that can be caused to your organisation by a struggling supplier who subsequently goes out of business could be considerable. It’s worth remembering that checks can and should also be applied to businesses too.

This involves taking the kinds of checks that you would run on an individual but applies them to a corporate entity. Are they who they claim to be? Are they financially healthy? Are the banking and VAT details they gave you correct? These checks can form an important part of the due diligence undertaken on a potential new supplier. After all, the disruption that can be caused to your organisation by a struggling supplier who subsequently goes out of business could be considerable.