Here is a reminder document created by my friend Michele Romano.

QCsolver Inc. spends a lot of time working with hundreds of suppliers so that our clients can concentrate on other aspects of their business. What are we hearing when it comes to risk management?

Fraud is always a top of mind challenge. Fake suppliers are set up and paid and we have checks and balances to help prevent this from occurring. We have an onboarding function that is completely automated with QCsolver doing the required reviews.

A company is not financial sound and when they declare bankruptcy in the middle of a project then a lot of scrambling can occur. Which is why we partnered with Creditsafe. https://lnkd.in/gC-ek7iN

The company has a poor health & safety record which is why we collect and review their workplace clearance certificates and safety check report from WSIB.

Our clients often have to award to a poor performing supplier because they are low bid. We work with our clients to create their own Key performance Indicator review so that they can track their suppliers and create a performance improvement program. Those that fail the program are then bared from submitting a bid for up to 2 years.

Hope this helps!