Accelerating vendor & partner due diligence

Background

Procurement, finance and individual business units each onboarded vendors their own way. Some ran thorough checks, others ran almost none. There was no standard record of what had been verified for a given supplier, which made third-party risk hard to see across the organisation.

The challenge

A large enterprise needed a centralised, repeatable way to verify vendors, suppliers and business partners instead of a different process per team.

• Every team onboarded vendors differently, with no common standard.
• Company, GST, registration and director checks were separate manual lookups.
• There was no consistent record of what had been verified for each vendor.
• Third-party risk was hard to assess across the whole supplier base.

What VerifyAll did

VerifyAll runs a standard KYB pack — company registration, GST, MCA documents, Udyam status and a director search — on every new vendor, with the output attached to the vendor master record.

1. 1

   One KYB pack for every vendor

   Company registration, GST, MCA documents, Udyam status and a director search run as a single standard check.

2. 2

   Same process across teams

   Procurement, finance and business units all onboard vendors through the identical verification step.

3. 3

   Attached to the vendor master

   Results are filed against the vendor record, so anyone can see what was verified and when.

4. 4

   A base for ongoing review

   A consistent record makes it possible to re-check vendors on a schedule rather than never.

Results

• Vendor onboarding follows one repeatable process instead of a different one per team.
• Company, GST, registration and director checks come back as a single pack.
• Every vendor has a consistent, filed record of what was verified.
• Third-party risk is visible across the supplier base, not siloed in one team.