Vendor Compliance Vetting

Vetting Vendors for
SOW-based Contracts

Enterprise clients frequently use large numbers of service providers and specialized consulting firms to perform projects involving hard-to-find worker skillsets. These projects are generally performed according to the terms of a statement of work (SOW) and the contractor may either be paid a fixed price or compensated on a time-and-materials basis. Due to their structures and the employment relationship of their workers, service providers can potentially introduce worker misclassification risk to the enterprise.

Using the services procurement capabilities of Beeline VMS, companies can reduce these risks. Beeline VMS allows organizations to select contractors by competitive bid and negotiate SOWs using their preferred terms, rather than the contractors’. This allows enterprises to establish firm and consistent compliance requirements for contractors and ensure that service providers meet client-defined standards for vendor status, including:

Business license validation
Credit check
Certifications check
Insurance validation
Payroll and business tax compliance