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Vendor Screening & Compliance Management |
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 CRS provides companies and organizations with an innovative approach for screening and compliance management of new and existing suppliers, vendors and independent contractors. Our programs include both domestic and international due diligence and risk mitigation services.
In today's business environment, companies need to be fully aware of who they are conducting business with. Establishing a contract with a vendor that has an unfavorable financial or criminal background can have significant ramifications. Companies finding themselves in
non-compliance with federal laws and regulations can be subject to substantial fines and penalties as well as loss of reputation within their industry and with clients. Staying in current with the myriad of ever-changing regulations is essential for conducting business, however, it is time consuming and costly for companies to manage.
In order to protect your company, its assets and its reputation, CRS’ experienced experts help you meet the many challenges of screening and ongoing vendor compliance by providing a comprehensive web-based risk management solution at no cost to your company. Your organization's external vendors and suppliers pay the cost of screening in order to meet your company’s screening requirements that may include providing evidence of liability insurance and current regulatory licenses as well as passing criminal and financial background checks. CRS provides your company with a comprehensive Vendor Compliance Management Program that effectively reduces your fraud risk and vendor management costs while allowing you to focus on your core business and make more informed vendor decisions.
Benefits of this program include:
- No cost to your company
Your external vendors pay the cost of screening services.
- Screening services within 1 to 3 business days on average
Screening services can be performed quickly and efficiently so you can continue to conduct your business.
- Comprehensive program with customizable screening criteria
CRS provides your company with a customizable Vendor Compliance Management Program that is based upon your company's specific risk-management criteria and guidelines.
- State of the art web-based program with remote access 24/7
CRS’ proprietary web-based software and secure servers provide remote online access to monitor, manage and track all documents and view recommendations of Pass, Fail or Incomplete. The software program incorporates insurance certificate management technology, Optical Character Recognition technology and automated electronic real time status updates.
- On-going vendor compliance
Tracking of anniversary dates of vendor's enrollment and expiration dates of insurance certificates. Your company is automatically notified of fraudulent documents, changes in coverage amounts, expirations or cancellations.
- Compliance with Federally mandated Anti-Terrorism, Executive Order 13224 and Patriot Act regulations
CRS screens your vendors against Office of Foreign Assets Control databases, FBI Most Wanted lists and fugitive databases.
- Protection from the risk of doing business with convicted felons
CRS performs national criminal and sex offender background checks for your organization.
- No software to be purchased
CRS’ web-based services require no software to be purchased or installed by your company or vendors.
- Domestic and international screening
Screening services can be performed for both domestic and international vendors and can be customized for your company’s needs.
- CRS database of screened vendors
Searchable database of pre-screened vendors for confidence in locating new vendors and suppliers.
- Green technology utilization
CRS’ web-based services minimize the amount of paper and printing waste used in your business operations which more cost effective and environmentally responsible.
Business and Owner(s) Screening
Standard Domestic Business Entity Screening includes:
- Business Locator
Verification of the basic details submitted by the vendor including legal company name, address and phone number.
- Corporate Records Search
Determination of the name, filing status, corporate name, address, date of incorporation and registered agent of a company.
- Bankruptcy Search
7 year search for any bankruptcy records filed under the company name.
- Liens and Judgments Search
7 year search for any civil judgment or lien records under the company name.
- Better Business Bureau Search
Verification of company listing, BBB rating, nature of business and complaint status.
- Special Certification Search
Verification of one or more of the following business certifications: 8(a) Business Development, HUBZone, or Small Disadvantaged Business (Minority or Woman Owned Business Enterprise). Images of the actual certificates are securely stored online and are accessible 24/7.
- Professional License Search
Verification of licenses for vendors such as plumbers, accountants, contractors, etc. Images of the actual licenses are securely stored online and are accessible 24/7.
- UCC Search
Location of filings regarding failures to pay on equipment leases, letters of credit, bulk sales and other business to business type violations of the law.
- Business Reverse Report
List of names and companies that have used the address, phone or internet domain provided by the vendor. This validates their information and locates possible fraud.
- Business Security Search
Determines if the vendor is on one of the hundreds of different lists excluding them from doing business with a government agency worldwide, or doing business with a company that does business with a government agency worldwide.
- Insurance Certificate Management
Check of the AM Best rating of insurance carriers and validation of the agent, coverage levels and additional insured language against your business criteria. In addition, CRS monitors changes in coverage and will notify you and the vendor in real time of any changes, cancellations or expirations to the vendor’s coverage. The certificate is securely stored online and is accessible 24/7.
- Online Document Management
Storage and verification of documents such as the vendor’s W-9 tax form, ISO certifications and other documents. These documents are securely stored online and are accessible 24/7.
Standard Domestic Business Owner(s) Screening includes:
- National Criminal Search
Comprehensive national criminal database search that returns all records matching the name and date of birth of the owner(s).
- National Sex Offender Search
Comprehensive national database search that returns all records matching the name and date of birth of the owner(s).
- OFAC Search
Department of the Treasury’s Office of Foreign Asset Control database search for individuals whose names appear on the Specially Designated National list. United States companies are prohibited from knowingly or unknowingly doing business with individuals on this list.
- National Security Search
Determination if an owner is on one of the 800 different lists excluding them doing business with a government agency or a company that does business with a government agency.
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Bankruptcy Search
7 year search for any bankruptcy records under the owner’s name and social security number.
- Liens and Judgments Search
7 year search for any civil judgment or lien records under the owner’s name and other identifiers.
Custom International Screening
CRS provides customizable International Screening Packages to meet your company’s needs for screening of global vendors that your company conducts business with. International screening services can include:
International Business Entity Screening includes:
- International Business Report
Report may include business background information, details about a company’s credit risk ranking, banking and finance validations, verification of trade references, property, assets, legal filings, structure, key personnel, payment behavior and financial assets and liabilities along with basic “Know Your Customer Checks” such as a search of the Denied Persons List (BIS-DOC, Unverified List (BIS-DOC), Entity List (BIS-DOC) Specially Designated Nationals (OFAC), Debarred List (DOD) and a limited media search.
- Global Compliance Check
Access to one of the world's largest databases of Politically Exposed Persons and currently maintains over 300,000 PEP records around the world.
- Local Media Search
Focus on media sources conducted in the local language of the jurisdiction. Findings are translated into English.
- Global Media & Open Source Search
Search of foreign news sources with archives spanning over 20 years.
International Business Owner(s) Screening includes:
- GlobalCheck
Validation of overseas passport visas driver's license voter registration permanent resident cards and certain other local identity document types that are supported.
- QuickGlobal Search
Criminality Search in the largest database of international criminality information available. It has over 170 million records sourced from overseas government court regulatory authority’s foreign news media sources and other data sources translated from their local language to English as required.
- Directorship Search
Determine if candidate is on record with country's local company registration body as being a company director shareholder or business owner.
- Regulatory Authorities
A search of overseas regulatory authorities will determine if an owner has been listed as barred or received censor.
- Global Compliance Check
Access to one of the world's largest databases of Politically Exposed Persons and currently maintains over 300,000 PEP records around the world.
- Global Media & Open Source Search
Search of foreign news sources with archives spanning over 20 years.
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