A media company could have given their seal of trust to an unreliable vendor!
A large media firm availed Business Partner Due Diligence solution from AuthBridge to conduct due diligence on their prospective supplier before joining hands. The objective behind conducting vendor due diligence on the supplier was to generate a ‘Trust Me Seal’ that the company generates for every supplier on their portal based on a pre-decided criterion.
Business Partner Due Diligence solution by AuthBridge helps clients in thoroughly understanding background and reputation of prospective vendors.
Under the solution, we checked the prospective supplier on various aspects such as transparency of services, reputation and capability. The steps involved in evaluation were Web and Media Search, physical visits, interviews with references, and physical validation of office location and submitted documents. The below two discrepancies were observed through analysis:
• There was a mismatch in the documents submitted by the entity
• There was a mismatch around the nature of business of the entity
How AuthBridge helped the company
Prospective supplier’s refusal to co-operate throughout the due diligence process led the Media company- our client- decide against providing its Trust Me Seal to the entity.
Pre-requisite for any organisation while empanelling any vendor is to be assured of the entity’s authenticity and its capability. Business Partner Due Diligence helps meet such pre-requisites so that an organisation feels comfortable while taking an impactful decision for or against empanelling a vendor, franchisee, distributor or any business partner.