Dusseldorf, 2012-03-27. Security is of utmost importance when it comes to closing deals via an online freight exchange. However, even the best precautions cannot replace commercial due diligence. With the new free of charge service TimoCom Identify, the IT service provider wants to assist its customers in verifying their business partners.
The provider of two European procurement platforms has known for quite some time that security forms the basis for good business. Consequently TimoCom has always invested equally in technology, HR and development. The multi-level security system has now been extended by another column: TimoCom Identify. With the new service, the IT service provider also wants to appeal to the users’ commercial due diligence. “We do a lot to ensure that everything works smoothly. With up to 300,000 offers daily this is a true challenge. However, every single order has its unique peculiarities. Therefore customers also have to do their share to verify new business partners in every case. If there are still doubts as to the identity after that, our users can start an identification order”, explains Chief Representative Marcel Frings.
Play it safe by checking in advance
All who want to make use of the new service first have to check their potential business partner themselves. In this fast moving day-to-day work commercial due diligence is often neglected. However, “do not waste any time” is the wrong attitude. You can minimise risks by actively taking counter measures. In the “Security” section at www.timocom.com the freight exchange operator explains what users should pay attention to. One essential point is the comparison of the business partner’s data against the verified company profile in the transport directory of the exchange. The documents that are usually required when placing an order with a new partner should also be checked.
Only if there are still grounded doubts as to the information provided by the opposition after this pre-check, the TimoCom Identify team should be employed. The respective form and the exact requirements can be found in the “Security” section at www.timocom.com under TimoCom Identify.
Once the complete order has been sent to +49 211 8826 5000 by fax or to [email protected] by e-mail, the comprehensive examination by the TimoCom Identify team should be completed within a maximum five working hours.