If you have decided to become a technology partner then please note that you have to sign a mandatory vendor compliance, confidentiality agreement and agree to European policies of declaring your company details. Here is a simple minimum checklist on how MEDAS on-boards a new Technology Partner.
1. Research and Due-Dilligence
Conducting research on potential partners and vendors is an important step in due diligence. This includes reviewing their website, financial statements, and other publicly available information. This is typically carried out by MEDAS in-house sourcing team together with legal partners that further help us to launch country specific due-dilligence.
2. Review References
Contacting current and past clients of the potential partner or vendor is an important step in determining their reliability and performance : in this step we typically work with the potential partner in discussion.
3. Financial & Legal
As per European and German laws typically its important to have some form of informaiton that is available already - as a result we do our best in requesting the potential partners to declare to the best of their ability the minimum information that is required for us to be clear on the ultimate owners, operating partners, share-capital and finally audited financials for the last 2 years. This enables us as a team to be transparent and we offer the same information redily to our customers if a situaton so demands.
4. Certifications and Accreditations:
Reviewing any certifications or accreditations that the potential partner or vendor may have can help to verify their qualifications and expertise.
5. On-site Visit
Conducting an on-site visit to the potential partner or vendor's facility can provide valuable insight into their operations and the quality of their products or services. This is mandatory and critical for MEDAS to execute prior to any confirmation or deals.
6. Current Contracts
Reviewing any contracts or agreements that the potential partner or vendor has in place can help to identify any potential risks or liabilities.
7. Insurance & Liability
Reviewing the potential partner or vendor's insurance coverage can help to ensure that they are adequately protected against potential risks again this is a mimimum requirement at MEDAS proceeding forward since we operate as per German and European laws.
At MEDAS we take compliance very seriously - Reviewing the potential partner or vendor's compliance with relevant laws and regulations can help to ensure that they operate in an ethical and legal manner.
9. Cyber Security Measures
Its critical to ensure that MEDAS's clients data, informaiton and Project details are protected a review of the existing infrastructure that aid apt can help to ensurcyber security and respects the privacy laws is critical in protecting sensitive data. GDPR compliance and zero leak is manadatory requirements at MEDAS. In most cases our partners typically follow SOPs and the project is completely managed via the terminal servers of MEDAS.
What we Believe
By sharing knowledge, expertise, and resources, technology partnerships can foster innovation, increase efficiency, and help businesses stay competitive in rapidly evolving markets.