Hi – my name is Josh with Venminder.
In this 90-second podcast, you’re going to learn three best practices for managing your international vendors.
Here at Venminder, we have a team of certified industry experts who specialize in developing comprehensive risk management programs for organizations of all sizes and all industries.
Outsourcing to vendors is often done to create operational efficiencies and provide the best options to your customers. It’s generally recommended to utilize domestic vendors, but sometimes the best choice is an overseas company. International vendors doing business in the United States are held to the same U.S. regulations as your domestic vendors. And, risk assessments, document collection and ongoing monitoring will remain the same.
Still, there are a few additional practices to follow when dealing with an international vendor, such as the following:
U.S. regulators will want to see proof that all vendors abide by the same guidelines, so it’s best to review and assess your vendors under the same standards constantly.
We hope you found this podcast insightful! Thanks for tuning in; catch you next time.