Third Party Data Validation & Enrichment

Validating the company and individual identities across your third-party relationships helps ensure that you are doing business who you think you are doing business with.

Identity fraud is used to create fake companies, fake suppliers, fake partners, fake contractors….that steal real money.

Ensure that tax IDs are valid across the US, EU VAT Area, Switzerland, Canada, Australia, Malaysia, India and more.

“If you’re in a major city, probably 3-8% of your current spend is already diverse spend.”

Chuck Stefanosky, Supplier Diversity Director at Independence Blue Cross

Manual processes limit companies ability to identify diverse suppliers during the discovery, registration and ongoing management phases.

The apex platform is integrated with national, regional and local diversity databases to enrich your current vendor master and validate all going forward. This can be done via our supplier management portal, API or web application.

250 country address books. Every address in the world that we can validate from a trusted source.

Why do you want to confirm an address?

Check your supplier address with your employees. Matches are key indicators of fraud.

Natural disasters and armed conflict. Correct addresses helps you identify which partners may be in danger.

Unfortunately, electronic payments have not been 100% adopted and valid addresses are a good way to keep the legacy processes efficient.

Bank account ownership validation is the MOST effective way in preventing fraud.

• Validates bank account is owned by supplier through integration with global banking consortium and government authorities (US, UK, India, Sweden, Poland and more)
• Confirms that the bank account does not have a negative balance (high risk attribute)
• Flags change requests for bank accounts that have been recently opened