CHICAGO, IL--(Marketwire - Nov 14, 2012) - CVM Solutions, a premier global provider of supplier screening solutions, today announced a new product line, Comprehensive Screening Packages, the broadest suite of supplier screening solutions available in the market. The solution begins with automated risk analysis that is designed to identify higher-risk suppliers and then segment them toward one of three screening packages that are specifically appropriate to their risk profile. The suite includes the Essentials Verification Package, Enhanced Verification Package and Complete Verification Package.
With the release of Comprehensive Screening Packages, CVM Solutions verifies that supplier information is accurate, insurance is valid, financials are stable and all required licenses are current. It also ensures that suppliers do not have critical outstanding fines or judgments, nor affiliations with businesses or individuals under criminal investigation. Plus, it monitors the risk of suppliers identified as possible risks over time to proactively mitigate supplier issues before they can disrupt the business.
"Monolithic or one-size-fits-all screening solutions of the past cannot meet today's global and complex compliance requirements," said Greg Crow, Chief Marketing Officer of CVM Solutions. "All suppliers represent potential risk, but they do not all represent the same risk. Our solutions ensure there is no gap in the supplier risk management process and ensure that clients comprehensively address pervasive and daunting risk mitigation issues. We cover the process from start to finish: supplier data collection, initial verification and ongoing monitoring of supplier credentials and policy conformance, to give CVM clients peace of mind in a complex operating environment."
What's New with Comprehensive Screening Packages
- Turn-Key Solution: The solution is configured to a client's specific compliance requirements and hosted by CVM Solutions to support accelerated deployment;
- Standardized Screening Process: The screening and risk requirements are consistently applied across the entire organization and across all suppliers to mitigate liability;
- Straight-Through-Processing: Time spent chasing supplier documents and information is eliminated;
- Real-Time Data: Up-to-date compliance and records, always;
- Unparalleled Verifications: Optional screening components include COI Insurance verification, owners' criminal background checks, debarment checks, Health and Safety checks, IRS TIN validation and more through a combination of proprietary and public databases;
- Financial Risk Assessments: Financial risk analysis is performed on the supplier's most current and audited financial data and benchmarked against similar firms to assess the likelihood of supplier failure and disruption;
- Supplier Paid Option: Ability to offset cost by collecting payment from suppliers. Supplier-paid and client-paid models are fully supported to meet the needs of CVM Solutions clients.
Resources and Links
About CVM Solutions
CVM Solutions, a Kroll company, is the premier global provider of supplier screening solutions that enable clients to trust their suppliers, drive cost savings and mitigate supplier risk. CVM Solutions, founded in 2001, and Kroll, an acknowledged global leader in security, offer unparalleled and extensive knowledge of suppliers and background screening. Combined, their leading supplier database and innovative technology provide unique capabilities for the initial verification and ongoing monitoring of global and diversity suppliers. With vast supplier intelligence, deep experience and customer-focused results, CVM has helped more than half of the Fortune 100 to realize tangible benefits. For more information, please visit www.cvmsolutions.com and www.cvmsolutions.com/supplierscreening.