In today’s complex regulatory environment, ensuring the legitimacy of your supplier network is more critical than ever. Unimarket is introducing two powerful features—Automated TIN Validation and Sanctions Screening—designed to mitigate risk, improve efficiency, and ensure your organization remains compliant with US tax and trade regulations.

Automated TIN Validation

Manually validating high volumes of supplier Taxpayer Identification Numbers (TINs) is time-consuming, expensive, and prone to human error. Our new TIN Validation feature addresses these challenges by integrating real-time verification directly into your procurement workflow.

Key Benefits

• Mitigate Risk: Prevent fraud and ensure compliance with IRS regulations by automatically verifying supplier TINs.
• Enhance Efficiency: Eliminate manual checks, allowing procurement teams to focus on strategic initiatives.
• Improve Data Accuracy: Maintain a clean supplier database with reliable, verified tax information.

How It Works

• One-Click Verification: Users can instantly verify a supplier's TIN from the supplier profile page.
• Bulk Validation Power: Stop checking suppliers one by one. Administrators can filter the Manage Suppliers screen by status (Valid / Not Valid / Not Checked) and trigger background validation for your entire database.
• Smart Suggestions: If a TIN is "Not Valid," the system can suggest official business names associated with that number, helping you correct records instantly.
• Proactive Change Alerts: If a user attempts to edit tax details on a previously "Valid" supplier, the system issues a real-time warning that the change will reset the validation status, preventing accidental data corruption.
• Reporting: A dedicated TIN Validation Report provides an audit trail of all validation attempts, including dates, users, and statuses.

Sanctions Screening

To help US businesses comply with trade restrictions, Unimarket is introducing automated Sanctions Screening. This feature leverages the Consolidated Screening List (CSL), which aggregates data from the Departments of Commerce, State, and the Treasury, including OFAC.

Why Sanctions Screening Matters

Trading with sanctioned individuals or organizations can lead to severe legal penalties and reputational damage. The CSL acts as a "red flag" system, identifying entities subject to US government restrictions.

Key Features

• Comprehensive Coverage: The system automatically screens your suppliers against 11–13 different US government lists, including OFAC, ensuring you aren't trading with restricted entities.
• Automated Matching: The system compares your supplier database against the latest CSL updates to identify new matches or status changes.
• Fuzzy Search: The integration uses "fuzzy" matching to find potential matches even if spellings aren't exact.
• Instant Notifications: When a match is found, the system flags the supplier record and triggers an email notification for internal review.
• Audit Trail: Every check and result is logged, providing the necessary documentation for regulatory bodies.

Compliance Workflow

If a high-confidence match occurs, the system provides a link to the Official Source (e.g., the Denied Persons List). Because false positives can occur, this feature is designed to support your internal due diligence process, ensuring you have the information needed to make informed decisions.

Ready to Mitigate Risk?

To enable these features and start streamlining your compliance workflow, please contact your Account Manager.