Questions About Vendor Compliance Management
Q: Why should I credential my vendors and/or potential business partners?
A: More than ever before, business leaders need to know who their business "partners” are. Developing a relationship with an unscrupulous ethically challenged or criminally motivated product provider, contractor or vendor could have serious ramifications to a company’s public image and financial stability. To meet these challenges, Compliance Depot can provide a comprehensive vendor screening program to assist clients in all industries.
Q: As a vendor why should I agree to be credentialed?
A: As a vendor, your reputation is the lifeblood of your business. By credentialing through Compliance Depot, you can achieve "approved vendor” status at major companies that you may or may not currently do business with. In addition, you can save time and money by outsourcing operational matters, including:
- Management of insurance certificates, reducing vendor operating costs and exposure to liability.
- Management of you and your companies public data information.
Q: What are the costs associated with Compliance Depot’s Services?
A: The costs associated with the credentialing process are determined by the services requested by the Compliance Depot client.
Q: What is Due Diligence?
A: Due diligence is a vital intelligence discipline and has become an indispensable tool that enables corporate decision-makers and their legal advisors to gain and maintain a competitive edge. Investigative due diligence explores issues and pursues lines of inquiry well beyond the information found in ledger books and contract clauses. Legal, financial, and business decision-makers responsible for strategic transactions and business relationships increasingly rely on investigative due diligence in their evaluation of pending business investments, acquisitions, joint ventures, board appointments, customer relationships, and executive hires.
Let us help you with your vendor compliance management needs! Call 888.493.6938 to speak with a sales associate today.