Businesses today are working towards creating a safer supplier ecosystem to secure their supply chain. Now there is greater emphasis on partnering with suppliers who are safe and qualify on key risk and compliance parameters. Beroe Know Your Supplier (KYS) Program is an industry-leading risk and compliance program that enables businesses to assess suppliers on key risk and compliance parameters, and enables suppliers to stay relevant to their client's business needs.
Offers assessment on the following risk and compliance parameters
KYS Program offers suppliers a one-stop-shop to get assessments done from industry-leading partners on a single platform along with a host of other benefits -
Avoid repeat costs by getting your business rated and assessed by leading agencies on a single platform
Avoid duplication of efforts by going through pre-qualification and assessment process just once
Showcase your ratings and assessments to 14,000+ companies on Beroe's unified platform for compliance and governance - Beroe LiVE
Buyer organization invites their suppliers to participate in the KYS program
Supplier registers on the Beroe LiVE platform following a unique registration link to participate in the program
Supplier completes details on their profile page on Beroe LiVE and completes payment to unlock its risks and compliance scores
Buyer organisation can access the supplier's risk and compliance scores
Beroe LiVE is a procurement intelligence and supplier authorization platform designed to help buyers identify and monitor suppliers on an ongoing basis. With users from 9,000+ global organizations, Beroe LiVE is the largest community of procurement professionals in the world. Beroe LiVE hosts financial risk ratings on 140 mn suppliers and also facilitates user ratings on suppliers they work with
Through Beroe LiVE’s supplier compliance module, suppliers can obtain assessments on the following parameters on client’s request:
Beroe has partnered with third party providers for these assessments and data packages. Suppliers will have one place to receive requests from customers and pay for that process of assessment to begin with each of the partners.
As part of this initial stage of the platform, only data/scores that already exist with one of the Beroe partners will be part of the request. The next stage of the platform in early Q1 2019 will include requests for new assessments. Additional compliance partners will be added in future releases.
Beroe LiVE is a unified platform where you can showcase your compliance and qualifications to procurement professionals from more than 10,000 companies. Moreover, you can get the required compliance assessments done through a single channel rather than approaching different certification providers and intimating buyers separately. Once your assessment is done, you have the ability to showcase the certifications to all the users on the platform including the buyer who requested the information.
In this initial stage of the release, data will only be shared with the requesting customer. In the second stage coming soon, there will be the option to share with multiple customers when you receive more than one request.
To be a unified platform, Beroe is working with key customers and suppliers to get your valuable feedback on additional ways this platform brings suppliers value. With the valuable insight shared with the Beroe product team, suppliers and customers will have an opportunity to share in and shape the evolution of the Beroe LiVE platform.
You can achieve compliance requirements by following simple set of steps:
Beroe is committed to engaging suppliers, buyers and compliance experts to give feedback on the relevance and value of the features of the platform. Beroe requests end users to participate for a 1 hour feedback webex on a bi-weekly basis or to schedule a one on one time at the user’s convenience. The support desk can log any requests for individual discussions but users will also receive requests to join feedback discussions that will help shape the future the platform.
Beroe is adding new partnerships regularly. If there is an assessment that is highly relevant, please log a ticket with the support desk for consideration in future stages of the platform. In the next phase, there will be an opportunity to upload additional certifications and audits you may have already performed and that are current.
There are various costs associated to each data partner. There will be an option to decline a request from the buyers and give a reason for that choice. Each request you receive will have your final cost associated to it for purchase. For this first stage of the platform, there will be 3 data packages available for customers to choose from ranging from $49-$399 USD.
Each partner has data relevancy periods. For the financial data, data loses relevance if older than a year. There will be opportunities in future releases to pay for updates as needed or required.
For the initial release, there will be a limited number of overlapping requests but each request would be paid for separately. The next stage of the platform will include an option to share to 3 or more customers and subsequent stages will include premium subscriptions to allow the supplier information to be available to all Beroe LiVE buyers registered on the platform.
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