Supplier Compliance Management

Supplier or service provider compliance management involves implementing systematic procedures, including Know Your Customer (KYC) processes, to ensure that they meet legal, regulatory, and contractual obligations. It’s crucial that companies ensure their suppliers or service providers adhere to minimum legislative requirements and ethical standards to conduct business. Ultimately, robust screening procedures, incorporating KYC, is vital for maintaining ethical business practices and minimising potential legal and reputational risks.

Companies generally face quite a few stumbling blocks in terms of managing suppliers or service providers due to:

Capacity constraints as processing vendor applications and managing compliance documentation is done manually

Compliance documentation expires and is not actively maintained

Lack of knowledge of the minimum legislative criteria to which suppliers must conform

Accessibility to supplier data to determine compliance

Lack of understanding capacity and capability of suppliers

How can we help?

By adopting a proactive approach, our compliance management services go beyond once-off KYC checks. We continuously engage with suppliers or service providers to request new and updated compliance documentation, ensuring ongoing compliance. Our services entails managing a company’s suppliers or service providers from an outsourced perspective, providing comprehensive support in maintaining their compliance.

VCM, our unique supplier compliance management system, further offers a comprehensive approach to supplier compliance by providing:

Cloud-based supplier registration and onboarding portal with a built-in vetting mechanism

Flagging mechanism to alert suppliers of expiring or non-compliant documentation

Compliance reporting / Vetting reports

Automated classification of suppliers in terms ownership and locality for the purpose of spend reporting

Closed-loop e-procurement function and automatic adjudication mechanism (RFQ tool)

Technical Vendor Assessments

Compliance Documentation Is Rigourlessly Vetted During Verification

Why us?

We ensure ongoing legal compliance by continuously engaging with suppliers or service providers to request new and updated compliance documentation.

Among the numerous supplier portals that currently exist, VCM provides a unique and holistic approach to compliance management from the point of onboarding, to vetting and actively managing suppliers’ compliance.

Our platform integrates data from various databases and sources to offer a comprehensive view of a supplier's compliance status.

Our dedicated helpdesk provides hands-on assistance to train suppliers on compliance requirements in South Africa.

VCM is POPI Act compliant

Our sources include:

- Companies and Intellectual Property Commission (CIPC)
- South African Revenue Service (SARS)
- Compensation Commissioners (Dept. of Labour / FEM / RMA)
- SANAS accredited B-BBEE Agencies
- Department of Home Affairs
- Various credit bureaus (XDS, Transunion, Experian etc.)
- Various watchlists & databases Southern African Fraud Prevention Service (SAFPS)
- South African Police Service (SAPS)

Our vetting capabilities

International vetting available on request.

What are the Benefits?

Focus on core activities while we handle the complexities of supplier compliance

Objective assessment provides a third-party perspective eliminates favouritism and sentiment around suppliers

Replaces the manual vendor application process

Minimises manual buyer intervention

Reduces reputational risk, fraud, corruption & unethical business practises

Full visibility on suppliers’ compliance statuses by combining results of various databases

Enables B-BBEE spend reporting

Allows companies to achieve preferential procurement targets

Provides local communities with access to opportunities

Actual bottom-line savings

Allows informed decision making