Protecting Your Company from Fraud

Three Reasons Why You Should be Minimizing Risk through Vendor Screening

You’re taking care to protect your business, your staff, and your customers with thorough background screening of applicants and employees … but your workforce extends well beyond your own team.

You have vendors, independent contractors, and suppliers to consider. Are they trustworthy? Safe? Are they properly licensed and insured? Do they share your ethical and operational standards?

To protect your organization, you need to know who your partners are – and you can, with full-service vendor screening that sets a standard for excellence and accountability for your third-party network.

Vendor screening can help you be confident that the vendors you bring onboard meet the standards you expect in terms of licensing, insurance, compliance, trust, and other key factors – and this comprehensive screening also allows you to include vendor staff and third-party contractors into your background screening, so you can identify any safety or security concerns before disaster strikes.

 

There are three specific and vitally important ways this is added level of screening will benefit your organization:

 

  1. Vendor Screening Can Protect Your Brand

Vendors, contractors, and suppliers are an extension of your organization. Wrong doing or incompetence on their part can reflect poorly on your reputation.

If those you partner with are discovered to be ignoring licensing requirements, skirting safety requirements, or employing high-risk individuals, their low standards may cause others to question your standards. Vendor screening can weed out unethical actors before they have a chance to do harm and hold your partners accountable as your relationship grows.

 

  1. Vendor Screening Can Protect Your Company

What happens if a vendor you bring onboard has a history of safety lapses, and then they cause an accident while working on-site for you? The liability could put your organization in a precarious position. Or what if a vendor’s lax hiring practices bring unscrupulous players into your organization, and they manage to access sensitive information or valuable assets? The results could be costly and disastrous. Situations like these, that could needlessly cost your organization time and money, can be prevented with strong vendor screening.

 

  1. Vendor Screening Can Protect Your Team

You take responsibility for your team’s safety – that’s why you hold your associates to high standards and rigorous screening. But the vendors you hire can come into close contact with your team, from administrative staff to executive-level leaders, so they must be held to the same standards. Vendor screening can include criminal history checks, sex offender registry searches, and other safeguards that add an extra layer of safety for the in-house team that you work so hard to protect.

Ready to enhance your organization’s safety with vendor screening? Reach out to AmericanChecked here – our friendly, expert Screening Advisors are ready to guide you to the best screening products for your organization’s specific needs.

 

This article is for informational purposes only and should not be construed as legal advice. For guidelines specific to your industry and location, please contact your legal counsel.