Hi – my name is Josh with Venminder.
In this 90-second podcast, you’re going to learn what initial vendor due diligence is and why it’s important.
At Venminder, we have a team of industry experts who specialize in collecting and analyzing vendor due diligence daily.
What is initial due diligence? Initial due diligence, also known as “vendor vetting”, is analyzing and verifying that your prospective vendor meets your needs and is in regulatory compliance. It helps you determine if a vendor relationship would help achieve your organization’s strategic and financial goals and then continue to mitigate identified risks to the best of your ability.
Why is initial due diligence important? Initial due diligence is important for quite a few reasons, but here are 4 big reasons:
Initial due diligence is extremely valuable and is a significant component of the overall vendor lifecycle. I hope you found this podcast helpful.
Thanks for tuning in; catch you next time!