Credentialing Systems

Marketplaces help buyers and sellers meet for the first time. Credentialers help buyers and sellers make sure they want to do business together.

Value Propositions

Credentialing system providers offer risk management and compliance services to both parties in a transaction. Often credentialers are focused on helping buyers assure their suppliers and partners meet the requirements for doing business with them. These requirements can be of many types:

  • Financial attributes (e.g., profitability or capital structure)
  • Physical attributes (e.g., location security, working conditions,etc.)
  • Diversity
  • Safety
  • IT Security
  • Regulatory (e.g., OSHA)
  • Quality (e.g., ISO)
  • Social responsibility (e.g., Green)

Strategic Issues

In my work with credentialing system providers, we often tackle several strategic issues:

Adding Value to the Data

Credentialers must decide whether to simply collect information, verify and/or enrich it, or even develop their own templates or standards.

Types of Data to Credential

Large organizations collect all sorts of data on their suppliers and partners. It can be tempting to try to help them collect all of it in one place. It can also be a mistake.

To Matchmake or Not to Matchmake

All matchmakers (or marketplaces) do some credentialing, but not all credentialers do matchmaking. Once a great database is built, a marketplace is a natural thought.

About Credentialing Systems

Risk reduction and compliance for company, facility, product, lot and individual segments.

Here are some examples:

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