Role of Vendor Onboarding Process in Background Verification

In order to avoid fraudulent applicants, it’s important to opt for an extensive background verification covering the validation of all academic, professional and personal details provided by the candidate in their CV. An extensive background check can be conducted by our team of experts in order to verify the authenticity of the CVs submitted by your prospective employees.The positive impacts of using a resume verification service to validate CVs are wide-ranging, especially when it comes to the financial impact. A thorough CV validation can potentially save an organisation lakhs of rupees in training, opportunities and lost production time based on the fact that one bad hire can cost an organisation up to 5 times their annual salary.

Background verification of an employee, former employee, or applicant is more important than ever before. It is not just imperative to know the actualities regarding his/her educational qualifications, experience and references, but it also helps to learn about his/her persona and strengths. A flawless CV verification process makes sure that you take well-informed decisions about hiring employees by putting in place competent measures that ensure a fraud-free employment cycle for your organisation.CV verification forms a critical component in any detailed job application or resume background verification. It is important to check the credentials of a candidate prior to offering them a job. If there are discrepancies in their work history and educational qualifications, it might lead to significant losses for the organisation in addition to reputational damage. By including CV verification as part of your comprehensive hiring process, your company can reduce fraud and maximise employee productivity.

We bet 2020 has not exactly been going to plan for you. While you are in the same boat as countless others, we understand you feel your business challenges remain uniquely yours. Yet, there is one common concern that is giving organizations across the spectrum a hard time – identifying, verifying, and onboarding new vendors or new suppliers as global supply chains dry up and physical contact becomes restricted. If you too are struggling to find and onboard trustworthy vendors – you might call them suppliers, sellers, merchants, agents, delivery partners, depending upon the business you are in – this blog addresses your challenges and nudges you in the right direction (hint: technology).
Vendor onboarding process continues to be a complex, time- and labor-intensive, manual task that is often outsourced. While the pandemic has given vendor management teams pause, it has also shown that there is a new way to manage vendors and suppliers. Restrictions on movement makes it difficult to meet people in-person, yet requires organizations to onboard dozens or hundreds of new vendors. In this blog, we will take you through the traditional ways of vendor onboarding, while moving forward in examining how digitization can remove the roadblocks and provide a seamless solution. We will expand on how physical limitations brought on by pandemic living can be mitigated by adopting an e-contracting platform like GoCOntracts™.We have been helping organizations in diverse industries with their vendor management for the past two decades. We know how critical vendor onboarding is to your business – not only does it ensure compliance, but it also helps your organization mitigate risks.

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