"...the need to verify a company’s performance, criminal record and financial standing is paramount in reducing the risk for fraud, unsatisfactory work and lost time and revenue.”
Plano, Texas (PRWEB) September 13, 2010
Corporate powerhouse, Camden Property Trust, one of the largest multifamily real estate investment trusts (REITs) in the U.S., has today become the latest addition to the ever-growing list of notable clients who trust their vendor compliance management and partner credentialing to Compliance Depot, LLC, the nation’s largest vendor compliance management company.
Houston-based Camden, a $6 billion, S&P 400 company with nearly 2,000 employees, owns interests in and operates 187 properties containing 64,074 apartment homes across the United States. They provide expertise in the ownership, development and management of apartment home communities; in the acquisition, disposition and redevelopment of properties; and in consulting, building and construction services for third party clients. Camden’s new partnership with Compliance Depot drives home the fact that organizations working with multiple vendors and partners are wise to invest in vendor screening services.
“As the nation’s leader in multifamily property management, Camden understands the risk of doing business with unverified vendors,” says Lonnie Derden, President and CEO of Compliance Depot. “The company utilizes over 8,000 vendors and the need to verify a company’s performance, criminal record and financial standing is paramount in reducing the risk for fraud, unsatisfactory work and lost time and revenue.”
To meet these challenges, Compliance Depot provides a comprehensive vendor compliance screening program to assist clients across all industries. A wide range of services include but are not limited to:
- Management of Liability Insurance
- Vendor Agreement & Other Special Requirements
- Management of W9 Documents
- Government Watch List Search
- Due Diligence Vendor Check
- National Criminal & Sex Offender Background Check
People may be surprised to know that on average 11% of vendors have relevant, derogatory information on their file, 31% of professional service providers have had a lapse in auto liability coverage in the past two years, and over 45% of service providers have experienced a lapse in General Liability coverage in the past two years. “These figures represent just one section of vendor compliance,” says Derden, adding, “You can see how critical vendor screening is. Imagine having all of your vendors thoroughly screened and pre-approved through our extensive checks and balances. I call that peace of mind.”
“We’re very excited to bring Camden on board and look forward to providing them with a long-term solution to securing vendors and partners they can trust.”
To learn more about Compliance Depot, visit us on the web at http://www.compliancedepot.com or call us toll-free at (888)493-6938.
About Compliance Depot, LLC
For over 5 years, Compliance Depot has been the innovator of compliance technology. We help businesses to reduce exposure to litigation, the potential for fraud and abuse, as well as reputational damage caused by supplier relationships. Additionally, Compliance Depot works as consultants for our clients to help educate businesses on the laws of vendor compliance. We are highly sought-after for our expertise in federal laws such as required by Government Watch List searches under The Patriot Act, The Money Laundering Control Act, and Executive Order 13224. We help businesses to understand and interpret the laws, as well as educate businesses and non-profit agencies about their legal requirements to address internal operations to ensure compliance with these Orders. Compliance Depot also offers our clients no-cost access to our Minority Business Enterprise Database of over 200,000 vendors, the largest known minority database of qualified vendors.
At Compliance Depot we take the risk out of doing business.
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