And the answers businesses rely on.
Verivend is a secure, cloud-based network that allows businesses to quickly send and receive payments, communicate in real-time, connect with all your customers and vendors to view unbiased reputations, fulfill Requests for Proposals (RFPs), Quotes, Purchase Orders (POs), Invoices, Payments, and more. With Verivend, businesses can manage their AR and AP with greater transparency and cashflow predictability.
Registering for Verivend is quick and easy. Simply head to our Sign Up page to create your account. After verifying your email address, complete your account setup by entering your business’s details. With every new account registration, Verivend completes a Know YourCustomer (KYC) process, confirming the legitimacy of each and every business. Once your company has been verified, your account will be activated to send invoices and receive payments, allowing you to begin transacting with greater transparency and trust!
Verivend supports all types of business transactions between buyers and suppliers. In addition to sending and receiving payments, Verivend is especially useful to your business if you issue or respond to Requests for Proposals (RFPs), Quotes and Purchase Orders (POs).
If you send or receive RFPs, Quotes, Purchase Orders, Invoices, or Payments and rely on any manual or paper-based methods for any of these types of transactions, Verivend can help you streamline and automate how you do business by realizing significant efficiencies and cost savings.
Verivend doesn’t need to replace your existing ERP, accounting, or general ledger software. Instead, Verivend complements your existing software by providing an intuitive, user-friendly platform that ties together your ERP, accounting, and general ledger software by offering powerful tools to manage all of your business interactions, transactions, and cashflow.
We base our platform on three core values:
- Suppliers gaining predictability and reliability of cash flow, reducing late payments and receivable challenges.
- Buyers developing reputations based on their own transaction and payment histories, increasing the trust, and reducing the risks in business-to-business transactions.
- Buyers & Suppliers forming strategic partnerships and collaborating with higher levels of confidence.
Through our single, connected network, Verivend allows your business to electronically create and manage Requests for Proposals (RFPs), Quotes, Purchase Orders (POs), Invoices, and Payments. With Verivend, your business is able to easily trace received payments all the way back to the beginning, whether the transaction started with a single invoice, full-scale RFP, or anywhere in between.
Your entire AR and AP processing is seamlessly integrated on the Verivend network via our digital wallet. This gives your business the power of sending and receiving instant, same-day, and next-day payments.
Your business and its critical financial data are safer on the secured Verivend network than it is piled on desks, stuffed in filing cabinets, or in transit through the mail. Here is how Verivend keeps your business and its transactions safe and secure.
- Verivend and all its data are hosted with Amazon Web Services (AWS), providing the highest standards for our customers’ privacy and data security. AWS data centers are state-of-the-art and utilize innovative architectural and engineering approaches. Amazon has many years of experience in designing, constructing, and operating large-scale data centers and this experience has been applied to the AWS platform and its secure infrastructure. Physical access is strictly controlled both at the perimeter and at building ingress points by professional security staff utilizing video surveillance, intrusion detection systems, and other electronic means.
- Access to the Verivend platform is only allowed through HTTPS using Secure Sockets Layer (SSL), a cryptographic protocol that is designed to protect against eavesdropping, tampering, and message forgery.
- Verivend uses SSL encryption certificates issued by trusted certificate authorities.
- Company-level security ensures that your company’s user accounts are associated only with your business, and can only see the details of your business.
- User-level and Role-based security ensures that each of your company’s user accounts has access to only the details of your own business and can only perform the specific tasks you’ve allowed by assigning each user’s permissions.
- Verivend follows proactive fraud detection, prevention, and risk analytics methods by monitoring numerous data points across our network to create a comprehensive portrait of user behavior before, during, and after each transaction.
The security of all businesses on our platform is one of our top priorities at Verivend. Know Your Customer (KYC) commitments require Verivend to verify that the account holders operate from the business provided upon account registration. Your company will have immediate access to all areas of our platform except for being able to send invoices and receive payments until your business’s KYC process is completed.
Before accessing and using the Verivend platform. After submitting your initial registration, check your inbox for an email sent by firstname.lastname@example.org and click Verify Email to complete your Verivend account verification.
Protect yourself and your Verivend account from unauthorized access. It's important for you to understand how to recognize deceptive attempts and what you can do to protect yourself. "Phishing" attempts to persuade you to take an action which gives an unauthorized party access to your account and sensitive information.
- Be cautious about all communications you receive. If any communication appears to be a phishing communication, do not respond and delete it immediately.
- Do not click on any links and do not open any attachments in a suspicious email message.
- Verivend will never ask you to provide your email address, password, or banking information in an email message.
- Verivend will never send an unsolicited "Security Alert" email message asking you to provide your personal information, password, or requesting you to reset your password.
- Be cautious of the sender's email address. All email communications from Verivend will come from email@example.com
- Only enter your account information on Verivend's login page at https://app.verivend.com/login and ensure "https" and the secure "lock icon" are both displayed in the address. This ensures you are on our secured, encrypted site.
- If you're concerned about your account's security, please reset your password here or contact us directly from our website.
Transparency is one of the core principles of the Verivend network. Reputations offer accountability and trust when companies transact, which reduces the risks of doing business. Verivend uses our own proprietary Artificial Intelligence (AI) to generate objective, unbiased reputation ratings for each company on the platform, based on each business’s own transaction and interaction histories. In other words, the more you interact with integrity, promptness, and honesty, the stronger your reputation grows—and other businesses can see that.
Similar to an individual’s credit score, your business’s Verivend reputation is an objective, unbiased calculation of your transactional and payment histories on the platform. Verivend uses in-depth proprietary Artificial Intelligence (AI) that continually reviews the comprehensive history of a business and their interactions on the platform. As with any AI, the more your company uses Verivend, the better Verivend gets to know you and your business.
Verivend’s reputation-generating AI looks at a wide range of transaction and interaction data points to compile sophisticated insights for each company, based on their own history and actions on our platform. A company’s Verivend reputation is updated in real-time with each new transaction and interaction, so you can be assured that Verivend’s reputations are an accurate, up-to-date representation of your company and business partners.
Your Verivend reputation is displayed in your business’s profile and within the business directory, making it easy for you and other business partners to know exactly who you’re dealing with on the Verivend network. If you currently do not see your company’s reputation, it means the Verivend platform is still getting to know your business and hasn’t yet generated your reputation for display. After joining Verivend, every company is an introductory period during which the Verivend platform gathers the amount of information necessary to generate an accurate representation of the company.
The Verivend business directory is available to all organizations once they’re verified. Within this directory, you can search for and connect with businesses you already transact with, as well as find new potential partners, buyers, suppliers, vendors, customers, and trading partners.
The business directory grows every day and transacting on the Verivend network is limitless. There are no barriers to entry with Verivend and you can instantly transact with all your customers and vendors, even those who haven’t yet heard of Verivend. Inviting new customers and vendors is easy, seamless, and allows both parties to take advantage of all features on the Verivend network.