Supplier/Freelancer compliance: Combining simplicity and security for the compilation of supplier files
MiTrust allows suppliers and freelancers to transfer reliable personal data (e.g. name and postal address) and professional data (e.g. company registration) from regulated service providers (national registry, government services, banks…) directly to their contracting parties or to compliance platforms.
Find out how the MiTrust solution enables Supplier Compliance departments to focus on the core business - the relationship with the suppliers - while reducing their costs and carbon footprint
Find out how the MiTrust solution enables Supplier Compliance departments to focus on the core business - the relationship with the suppliers - while reducing their costs and carbon footprint
Improvement in the completion rate of supplier files
less time spent by backoffice departments in managing supplier compliance
Reduced carbon emissions linked to the due diligence process
Controlling the criminal risk related to illegal work and supplier non-compliance
Findings
The management of supplier data is a potential source of friction for all parties involved. The secure transmission of personal data and documents can mean long and complicated processes, especially when these are requested periodically.
Goals
In order to meet their obligations regarding Know-Your-Supplier regulations, our clients (contracting parties or compliance platforms) needed a data / document sharing solution (company identity, company IBAN, etc.) that was both simple so as not to create too much friction for their suppliers, but also very secure, to ensure high quality compliance.
Simplify the supplier file compilation and due-diligence process
Reduce tasks with low added value
Safeguarding criminal liability of the contracting parties, GDPR compliance and security
Take advantage of the assistance of our experts and perhaps become one of our future customer success stories
"MiTrust is a key solution to streamline and simplify our Know-Your-Supplier processes"
"MiTrust is a key solution to streamline and simplify our Know-Your-Supplier processes"
—
Juliette BEAUD, Operations Project Manager at Frichti
The solutions we provided
Benefits shared by suppliers/freelancers and their contracting parties
Simplification of suppliers file completion
The MiTrust solution improves user experience by simplifying administrative tasks through the automation of document collection and form filling.
Automation of manual entry tasks
The MiTrust solution automates manual data entry tasks by sending reliable documents and data in their proper format directly into supplier management software (e.g. company identity, social security, IBAN, expiry date of a document for an alert, etc.).
Immediate validatino of shared data
The data comes from regulated sources (e.g. Government services, national registries, banks, etc.) and as it cannot be altered by the supplier / contractor, it does not have to be re-verified. The supplier file can thus be automatically validated.
Automatic data update
For information that needs to be updated regularly, the MiTrust solution takes care of data synchronisation in complete transparency for the supplier / contractor. No more multiple iterations!
An ecological and responsible process
The paperless process, the avoidance of duplicate storage in an electronic archive, the reduced use of supporting documents… all contribute to keeping the environmental impact to a minimum.
In addition, only the necessary data is transfered by the aupplier / contractor, according to the application of the principle of data minimisation (art. 5 of GDPR).
Increased security for all
With no possibility for the user to alter the data, the MiTrust solution increases the level of control and fraud prevention.
In addition, all data transmissions are encrypted (SSL SHA-256) and MiTrust does not store any data..
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