Vendor Verification Software

The vendor required to provide vendor verification software on a manual vendor verification process, requiring employees to use their personal logins to perform IRS tax id checks and to contact vendors directly to confirm addresses and banking information for both new vendors and changes.
- To strengthen internal controls and reduce fraud risk, the county seeks to implement a vendor verification solution that securely validates vendor identity, confirms vendor eligibility to conduct business, and verifies banking information.
•    Provide a secure platform for vendor verification that multiple staff (10-15) can use to perform the above objectives. 
•    Offer features for identity validation, banking information checks, and fraud detection. 
•    Flexibility to separate or combine these parameters as needed for verification.
- Requirements
•    IRS tin matching: ability to validate vendor tax identification numbers directly against IRS records. 
•    Address validation: verification of vendor mailing addresses using trusted postal or third-party data sources to ensure accuracy and reduce returned mail or fraud attempts. 
•    Bank account verification: validation of vendor banking information, including confirmation of account ownership, account status, and available metadata such as account opening date and associated tin.
- Technical requirements
•    Compliance with IRS standards and state regulations.
•    SLA: 99.9% uptime guarantee.