What is VETTED.?
IMC is pleased to unveil VETTED., a web-based solution offered in the cloud, that manages an organizations risk for vendor fraud, collusion and other sophisticated schemes through preemptive credentialing. A role based vendor risk system, VETTED allows a seamless integration between vendors and your organization:
Vendors provide detailed information for their company through a web-based portal.
Analysts select vendor for credentialing, review credentialing results and upload supporting documentation as part of the overall vendor evaluation.
Executives review high level reports and provide final approval for medium and high risk vendors.
A/P identifies potential vendors to receive an RFP request based on products and services self- reported with a NAICS code and ensure no vendors with interlocking leadership are ever part of the same RFP process.
Why do you need VETTED.?
There is an increasing reliability of organizations across all industries to contract with vendors who provide products and services for critical business systems and processes. This reliance, which also includes an increasing number of providers, exposes organizations to greater financial and delivery risk.
As noted by the 2012 ACFE Report to the Nations, Vendor risk is greater now than ever before with organizations at risk to lose up to 5% of annual revenue to fraud. Businesses stand to lose an estimated $1.5 billion in revenue per year to do poor vendor risk management, assessment and prevention.
As such, it is critical that organizations establish a risk control for credentialing their existing and future vendor population. Without a persistent and thorough vetting program to evaluate and mitigate vendor risks, an organization is vulnerable to fraud, collusion and other sophisticated schemes.
How does VETTED. reduce vendor risk?
VETTED. exposes the relationships and negative content within your vendor population. Simply by enacting the automated credentialing and management review workflow from VETTED. your organization will reduce the potential for fraud and collusion.
For more information on VETTED., or to receive a VETTED fact sheet send an email to