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When you’re in charge of finding suppliers or business customers, it can be challenging to know who to trust. Learn more from Markaaz
One potential path to growth that companies often overlook is becoming a verified business. Verification powers smarter business decisions and can give you access to many valuable perks. Read on to discover five meaningful ways that your business could benefit from being verified by Markaaz.
In the past year, supply chain challenges have been at the forefront of public attention like never before. From the scarcity of essential medical supplies and disinfectant products to toilet paper and rental cars, it seems that everyone has been affected by supply chain shortages to some extent.
A dishonest or disorganized supplier could wreak havoc on your supply chain, undercut profits, and—in extreme cases—even cause your business to fail. Meanwhile, partnering with the right supplier could be the exact puzzle piece your company needs to soar.
Supplier fraud or vendor fraud is a challenge that more and more small businesses face every year. And large corporations aren’t immune to these challenges either. In 2019, both Google and Facebook fell victim to the type of invoice fraud described above—to the tune of $123 million in stolen funds.
Supply chain shortages have always posed a danger to businesses of all sizes. Yet small businesses, in particular, can struggle to avoid supply chain disruptions and adapt when they occur.
When you invest in developing key business collaborations, both your SMB and its suppliers can reap the rewards of your efforts.
Between regulatory requirements and profitability concerns, having the right supplier verification solution in place is critical to the long-term success of your business.