The number of fraudulent cases revolving around companies and organizations in China was significantly alarming last year. As a manufacturing outsourcing services company whose operations involve other Chinese companies whether as clients or suppliers, this was major news to us. We stand behind our due diligence process to protect the company from fraud and delinquents.
The term Due Diligence is commonly associated with mergers and acquisitions to ensure value opportunities for both parties. In the world of contract manufacturing business, there is no standard when it comes to due diligence but there could be multiple variations and templates depending on the company.
Due Diligence can be quite complex as it covers a lot of ground. There are four major areas due diligence covers namely financial, operational, legal and strategic. All these areas are assessed by the due diligence process to gauge progress, success and potential failures for the benefit of the company and its partners.
How We Conduct Due Diligence
We mainly perform due diligence revolving around the concept of legalities. It is safe to say our process is so simple. We only do minimal assessments such as permits and certifications to make sure our clients and suppliers are legal to operate their services. Certifications are also necessary to further prove their credibility and assure we are dealing with authentic clients or suppliers.
The company also checks at least three key products the manufacturer, supplier or client are responsible of. It would be easy for our company to verify their work quality through their most notable products. If they are still new to the industry, we can use their website to research about their company and services, but we cannot include any information off the website to be used in our due diligence report because of its biased nature.
We conduct due diligence not only for checking the authenticity and legitimacy of people we work with, but we are also doing this vital process to look for potential suppliers, manufacturers and clients we would like to work with in the future. This is a great way for us to assess who are the companies we want to have steady relations and further nurture these relationships to become good business partners.
Our due diligence investigation focuses on the validation of potential suppliers. We verify the corporate and legal status of the supplier to safeguard your investment. Furthermore, we review the company’s financials and track record on previous projects during our due diligence process. Take your time to read this interesting story on due diligence.
Why Take Advantage of Our Due Diligence Services
Intrepid Sourcing is a manufacturing consultant with an extensive background checks make sure suppliers meet the required certifications, industry standards and regulations. Once suppliers have gone through this due diligence audit, we determine if they match your requirements. In contrast to other due diligence companies, we take a direct and unwavering approach to every aspect of the supply chain, giving our clients a direct overview of any and every supplier.
- Global Assurance: Validate a supplier anywhere. We conduct due diligence to determine if a supplier is right for your business. Our due diligence investigation can be performed anywhere as we work with a global network of researchers.
- Know Your Supplier: Get proof about the security and financial reliability of your supplier with a due diligence audit in order to safeguard your business. Our due diligence process will verify the will validate your supplier information.
- Verify a Good Match: When we identify and perform due diligence on suppliers, we make sure that it is the right match for your products and services. Many due diligence companies often overlook this problem. We do not.
The Due Diligence Process
Why it Matters
The due diligence process is part of the quality assurance process that makes sure you only work with the suppliers that are absolutely safe. Therefore, we conduct a due diligence investigation so you have complete control of product and supplier information. We are able to target the key parts of the company with our legal due diligence checklist.
In general, the due diligence audit has three main points: First, we check the corporate and legal status of a supplier. We use our legal due diligence checklist to verify the supplier’s compliance information. Second, our due diligence audit checks the solvency of the supplier. This means we make sure that your supplier has enough money to realize your production project. Third, we make sure the supplier fits your specific needs.
Check out this other article on how to simplify the due diligence service.
Want to Combine Services?
We conduct due diligence services not only for checking the authenticity and legitimacy of people we work with, but we are also doing this vital process to look for potential suppliers, manufacturers and clients we would like to work with in the future. This is a great way for us to assess who are the companies we want to have steady relations and further nurture these relationships to become good business partners.
It’s obvious that performing due diligence can be a notoriously time-consuming task. When you make the call to work with us, you can avoid the repeated emails, visits, and follow up questions, as we handle the due diligence process. We help across every aspect of the product outsourcing process, ensuring that you have access to the best information.
Each project requires customized attention. You can choose standard packages or go for a personal-driven solution. Make the best combination for your success and we will deliver it to you with great care!
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