The challenge of out-sourcing
When you outsource projects to third-party vendors, then you will benefit from checking beforehand who you are dealing with. This is important to protect your company or organization against potential lost revenue, loss of intellectual property, and other liabilities that may lay in the road ahead.
In every new business relation, there are elements to check before starting.
Different types of background checks on vendors:
- Regulatory compliance Screening
- Compliance with Health Standards & Requirements
- Compliance with Work Place Safety
- Compliance with Environmental requirements
- Financial Background Check
- Insurance Compliance Check
- Criminal Background Check
AR INTELL will screen a vendor or supplier in order to generate a complete view of their risk profile. Our assessment process will achieve this by getting complete and accurate risk data on your future vendors.
Complete and accurate risk data on your future vendors results in:
- Understanding the regulatory framework in which a vendor or contracted third party operates
- See the ISO and other standards which are applied in certain industries and supply-chains of vendors
- An opportunity to make a remediation plan to avoid pitfalls and other business incompatibilities
Detect red flags in advance
Discover information otherwise hidden
Develop a risk management strategy
The risk of not screening your vendors is too high. This is where AR INTELL can be of assistance.