Many companies screen purchase orders and sales documents against restricted party lists manually or with a partially automated solution. Regardless of approach or headcount assigned to the task, one of their biggest challenges is with constantly-changing lists published by a plethora of agencies. Clearly, this requires a team with the right combination of skills and experience. A customer list can include nicknames, aliases, alternate spellings and variations in word order. Solutions that lack the proper algorithms can miss matches completely, resulting in non-compliance.
Amid this complexity, organizations must be prepared to be audited. They must demonstrate accurate recordkeeping and a repeatable process that reviews likely matches immediately and prevents products from being released to confirmed matches.
- Do you need to screen a rapidly-growing customer list?
- Is your company in an industry that is under constant scrutiny by regulatory agencies?
- Do your information sources include spreadsheets and ad hoc “ship to”? information?
- Have you outgrown your current solution?
Learn more about best practices to protect your organization.