New suppliers are commonly identified through sourcing events conducted by the Fiserv Enterprise Sourcing Services team. Approval of a new supplier is determined by a set of requirements. At a minimum, approval requirements include:
- Supplier-business verification
- Financial review
- Insurance validation
- Office of Foreign Assets Control (OFAC) terrorist watch list screening
- Provision of a single ACH payment remittance
- Agreement to utilize the Coupa Supplier Network (CSN) to acknowledge receipt of Purchase Orders and to invoice Fiserv electronically against those orders.
Other approval requirements may include:
- Review of applicable third-party audit results
- PCI Compliance
- Review of business continuity/disaster recovery plans
- Screening verification of employee background checks
- Willingness to agree to Fiserv's standard contract terms
- Other requirements as necessary
The completion and submission of the Supplier Profile Form does not guarantee a potential new supplier will be selected to do business with Fiserv.