Vetting and Compliance Process
Beeline VMS oversees, documents, and systematized the vetting and compliance of all your suppliers. Our vendor compliance team has created a supplier vetting process and services designed to enhance your audit capabilities and help you manage suppliers more efficiently. Vendor compliance services Include:
- Vetting Requests
- Contract Management
- Amendment Tracking
Our VMS has an online portal through which all supplier contracts are originated and maintained. The portal provides supplier onboarding, payment requirements, and contract compliance. The portal securely maintains all required documentation, including all financial information when managing supplier payments. This provides an auditable system of record for your supplier contracts, as with all essential data in a repository for supplier contract management.
You can be confident knowing all suppliers with access to your VMS must first go through the vendor compliance online portal and execute your approved Supplier Access and Services Agreement before gaining access to your site. Our compliance team works to ensure that each supplier executes the correct client contract, along with any other required documents. This ensures that all suppliers meet your pre-defined requirements from a financial and legal perspective.
Why a Vendor Qualification Process is Necessary
It is vitally important for any organization engaging contingent labor to have a vendor qualification process in place to mitigate risk from a financial aspect. But ensuring vendor compliance is also important from a reputation standpoint. In too many cases, companies have seen their reputations damaged by news stories about workers being underpaid by subcontractors, and while the subcontractors’ names may be quickly forgotten, it is the brand name of the hiring company that is permanently damaged.
Having a vendor qualification process in place not only mitigates this unnecessary risk, but also help organizations bring on vendors quickly, efficiently and compliantly. With Beeline VMS and our ecosystem of approved and vetted talent partners, you can be confident of operating a contingent workforce program that combines flexibility and cost savings with compliance risk mitigation.