Supplier verification confirms that the organization, facility, contacts and Bank details presented to the buyer are genuine and belong together. It is a fraud-control step as well as a sourcing check.
How Supplier Verification works in a sourcing process
Verify company registration and physical presence through independent sources. Confirm payment instructions through an approved contact using a channel that was not introduced in the change request.
| Area | What to record |
|---|---|
| Decision | Verify company registration and physical presence through independent sources. Confirm payment instructions through an approved contact using a channel that was not introduced in the change request. |
| Evidence | Record the legal entity, registered address, operating site, authorized contact, account verification, date and verifier. |
| Watch point | A professional website, marketplace badge or branded invoice is not enough. Fraudsters can reproduce all three. |
What buyers should verify
Record the legal entity, registered address, operating site, authorized contact, account verification, date and verifier.
A professional website, marketplace badge or branded invoice is not enough. Fraudsters can reproduce all three.
