Enabling every business

to verify, monitor and pay

who they do business with

As the owner of a small business, there are many headaches that may keep you up at night. Managing suppliers and mitigating risk is a prime example. The Markaaz Directory offers you an intuitive platform to verify, monitor and pay who you do business with in one place. 

  • More than 119 million pre-verified SMBs (projected to be over 300 million by later this year)
  • Verified suppliers that have undergone a reliable vetting process (including KYC, KYB, AML checks, and identity verification) 
  • Business credit scores and supplier risk assessment (powered by Equifax)

Supplier Verification

What It Is and Why It Matters for Your Business 

A business cannot efficiently produce both the raw materials it needs and the final products it sells to customers, businesses secure materials from others—aka suppliers or vendors. Yet before your business contracts with a supplier, you will need to conduct some research.

What Is Supplier Verification?

Supplier verification, also known as vendor validation, is the process of confirming that a supplier your company wishes to contract with is both legitimate and reliable. If your business is subject to regulatory requirements or other standards, you will need to verify that the suppliers you work with abide by these rules as well.  

Markaaz verification includes: 

  • Company Legal Name and Address 
  • Ownership Structure
  • Articles of Incorporation
  • Tax Information
  • Business Licenses, Credentials, Permits, Etc.
  • Contact Information (Email, Phone Numbers, Etc.)
  • Insurance and Fraud Protection Solutions
  • Business Credit Score 
  •  

Initial Verification

The process of choosing the right supply chain vendors to work with can be challenging for business owners and managers. Not only do you need to find vendors with the capacity to produce the materials you need, but you must also confirm that those vendors are who they claim to be. 

You need the Markaaz supplier verification platform to protect your business from: 

  • Fraudulent vendors 
  • Unpleasant surprises when existing venders go out of business 
  • Vendors that are unable to keep up with your level of demand  
  • Vendors that do not comply with safety standards or other regulatory requirements 

Supplier verification doesn’t eliminate the potential problems above. However, it can help you to reduce your risk exposure.

Ongoing Verification & Monitoring

The need to vet supply chain suppliers does not end once you establish an initial relationship. Instead, supplier verification and monitoring should be an ongoing process for as long as you work together. 

If a vendor you contract with undergoes changes in ownership, personnel, location, or other factors, it could have a significant impact on your supply chain.  

The Markaaz Directory helps your business with your ongoing supplier verification needs. 

  • You can use the Markaaz Directory to monitor a list of suppliers, vendors and partners and be notified of any changes.
  • The monitoring aspect is especially useful during a time when the COVID-19 pandemic places a heavier burden on businesses worldwide

 

 

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A Member of

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