Supplier Risk Solutions

MIE is the market leader in Supplier Vetting. Through our Supplier Risk Solutions, we provide clients with a thorough and diligent review of a prospective supplier or company prior to a hiring, investment decision or for ensuring that our client’s business associates are complying and adhering to legislation and corporate governance.

Such vetting provides an objective and independent external assurance on a prospective supplier's business systems and financial background. The review entails a number of tiers and verification checks, including:

Bank Account/Code Verification

• This will establish whether the person’s bank account details are correct and valid and verifies the identity of the account holder against the account number supplied.
• The company’s bank information is investigated by the credit bureau on either a company or individual – the bank code will be supplied for the amount specified.

Company Checks

• Company checks carried out on vendors will determine whether the company is registered and is operating legitimately.
• MIE also offers enhanced and comprehensive options which will provide detailed information on the company.
• Company Fraud Check – this check is performed to highlight fraudulent activity in the workplace by an individual.

Company World Check

To support in the identification and management of financial, regulatory and reputational risk, a database of Politically Exposed Persons (PEPs), Sanctions and heightened risk organisations is used around the world.

This check offers:

• The ability to expose hidden risk in business relationships and human networks
• The company’s bank information is investigated by the credit bureau on either a company or individual – the bank code will be supplied for the amount specified.
• The ability to form part of a comprehensive employee and procurement vetting process
• The ability to identify Politically Exposed People - Notifies clients of whether a person is politically exposed or listed as an individual on over 200 sanction lists.

Deed Search

A deed search returns properties and the relevant details of each property registered to an individual and or an organisation.

CIPC Report

The Company Credit Standing provides information about the business stability of a company by checking the following:

• Trade on File
• Statutory Detail on File
• Subject Default
• Principal Detail
• Enquiry History
• Bank on File
• Deeds on File

Directorship Register

• The Directorship Register checks whether or not the individual has any business interests in companies registered with the Companies Intellectual Property Commission (CIPC).

SARS Verification

• SARS VAT Registration – confirming that the VAT number is valid and issued to the company by SARS.
• SARS Tax Clearance Certificate – Verifies the clearance certificate directly with SARS to ensure ongoing compliance.

Persal Check

• State Employee Verification establishes whether an individual is employed by the State on a National and Provincial level.

Treasury non-preferred supplier

• National Treasury offers MIE access to their non-preferred public-sector list. Suppliers on this list are precluded to do business within the public sector.

COID verification

• MIE assist companies in verifying whether a vendor is compliant with the Compensation for Occupational Injuries and Diseases (COID) Act which aims to provide compensation for employees in the event of disablement or death resulting from occupational injuries or disease.

B-BBEE Certificate Verification

• The verification is conducted on companies to verify and fully validate the details of the company’s B-BBEE status.

Overview

ZoomOut™ links HR and procurement processes, resulting in an identification of potential conflicts of interest between individuals and companies. ZoomOut™ is an intelligent data engine that identifies potential conflicts of interest between suppliers and employees. This advanced tool assists in identifying adverse links in your procurement and employment processes, including potentially corrupt relationships within the organization’s supply chain. It is designed to minimize supply chain fraud and pinpoint associations between:

• Suppliers and Suppliers
• Suppliers and Employees
• Employees and Employees

Solution

The ZoomOut™ system uses multiple data sources to gather and correlate information on your entity’s suppliers and employees. It then makes use of a complex rule engine to identify any links that may exist between these suppliers and employees.

Directorship Register

The Directorship Register checks whether or not the individual has any business interests in companies registered with the Companies Intellectual Property Commission (CIPC).

Judgements

ZoomOut™ establishes whether any judgement exist against a supplier and/or directors of a supplier.

Bank Account Verification

ZoomOut™ performs a bank account verification on suppliers and employees and well as determines if any supplier and employee bank accounts match.

Treasury Non-Preferred Supplier

ZoomOut™ determines whether a supplier and/or its directors are listed on the Treasury Non-Preferred List.

Deeds Search

ZoomOut™ establishes if there is a link or have been any previous links between properties owned by suppliers and employees

Ongoing Monitoring

ZoomOut™ offers access to a variety of triggers so that a notification is recorded if something significant changes with regards to suppliers and employees that are loaded onto ZoomOut™.

Benefits

• Identifies fraudulent or corrupt supply chain activity and conflicts of interest in the procurement or tender process
• Investigates negative and positive information on suppliers and employees to assist in mitigating reputational risk
• Assists in preventing the appointment of suppliers who have possible relationships with employees as it establishes all employee-to-supplier/employee-to-employee/supplier-to-supplier links
• Combats irregular expenditure and the illegitimate spending of tax-payers' money.
• Assists Forensic Auditors with fraud and corruption investigations
• Can be used by both private sector organisations and government departments when awarding tenders, which will reduce further risk.

For more information, please visit https://zoomout.mie.co.za/