Why small businesses should care about verification
Many small businesses know they need to digitize to reach more customers, run more efficiently, or better weather today’s challenges.
Read our latest Markaaz small business trends, tips, community updates, and product news.
Many small businesses know they need to digitize to reach more customers, run more efficiently, or better weather today’s challenges.
When you’re in charge of finding suppliers for a small business, it can be challenging to know who to trust. Learn more from Markaaz.
The supply chain disruptions resulting from the coronavirus crisis led to some nightmare scenarios for small businesses. SMB failures spiked, with some estimates predicting the closure of millions of mom-and-pop shops in the U.S. alone.
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.
Between regulatory requirements and profitability concerns, having the right supplier verification solution in place is critical to the long-term success of your business.