Customer & supplier control

Do you know who you are doing business with?

Do your customer & supplier check easily and quickly via Roaring Web.

Make demands on your suppliers/customers and follow up!

It is important that you set demands for the company you are buying services from or awarding a contract to. There are many ways to continuously monitor the company during the contract. It is also important that the requirements are relevant and can be followed up. Official company information may, at first sight, appear bland and a little boring. However, we know from experience that it usually contains many valuable clues and knowing what to look for will go a long way to ensuring that you are doing business with reputable operators.

With a few simple procedures and with the support of the Roaring Web, you can verify and check business critical information and the companies you are about to do business with. Make safer decisions and avoid unnecessary risks with the help of our web service!

Do you know who you are doing business with?

Criminals and questionable parties may use companies to conduct illegal business, commit fraud or simply try to defraud you and your business, for their own gain. This hurts you as a business owner, creates unhealthy competition and damages trust in society. Questionable parties can cheat on taxes and fees, as well as health, safety, quality and permits.

Do you have the controls in place?

Here we've gathered everything you should check when procuring a new supplier.

 

Smooth onboarding flow

Smooth digital customer journeys

Provide awesome customer experiences and improve business performance by digitizing and automating your:

  • PEP & Sanctions screening
  • Beneficial Owners & Board Members
  • Company Group & Owner Structure information
  • Financials, key figures & annual reports data
Automate AML & KYC

Automate AML, KYC and risk

Reduce manual work and risk through AML automation. Collect, verify and monitor crucial data about your customers like:

  • B2B customer onboarding
  • Power of attorney
  • Agreements and contracts
  • Checkout solutions
Accurate data

Accurate data,
at the right time

Your decisions are only as good as your data. That’s why customers use our services to:

  • Cleanse data
  • Update their CRM, ERP & other systems
  • Identify new prospects
  • Subscribe to data changes
  • Ensure regulatory compliance over time

What kind of company is it?

Although it might seem self explanitory to check the new supplier or customer before entering an agreement, it might be hard to know what to look for and what the warning bells are.

One of the simpler but more valuable risk indicators is to check the status of the company, such as bankruptcy and reorganisation. Here one should not forget to look at the historical information. A reorganisation can be completed without the company being declared bankrupt, but it can still give an indication that the company has had financial and operational challenges in the past. Other things to keep an eye out for is if there have been many changes of address in a short period of time, and if the company appears in legal contexts. Below we have gathered some additional checks that may be useful to carry out:

  • Are there more companies with similar names?
  • Business premises or postal address missing/incorrect
  • What is the box address or c/o address?
  • The address is "notorious"

Are there instances in legal contexts?

Another important thing to check before entering into a contract with a new supplier is whether that company, or its representative, appears in the legal context.

By carrying out these types of checks, you reduce the risk of being exposed to fraud, while ensuring compliance and creating long-term, sustainable business relationships.

Who represents the company?

Sure, it's good to control the company in question, but do you really know who you're doing business with? Checks on company representatives can potentially reveal information that will make you reluctant to carry out or cancel the contract.

Things like discrepancies in the stated signatory, versus what is officially registered, a very young/old board member can be potential warning bells. Below we have gathered additional information, worth checking:

  • Many board changes in a short time/incomplete board
  • Board involved in previous bankruptcies
  • The company has no auditor
  • Who controls the company other than the Board of Directors?

How does the company economy look?

The financial figures of a company can give indications that all is not well, or lead to follow-up questions being asked of the potential supplier or customer. Checking creditworthiness can be a good starting point, but other parameters are also important. Such as the turnover in relation to the number of employees, if the company registered for F-tax or if there have been a large and rapid changes in turnover or number of employees? Below are some other things worth controling before entering or sgning an agreement:

  • What are the financial figures for the company
  • High turnover change in a short time
  • High turnover despite few employees
  • Low turnover over several years