Screening Questions are one of the sources of information used by Canopy to determine the risk level of a supplier. They are important because they provide flexibility for information to be collected from both the supplier and the business users at the customer. This helps to build a bigger picture of the specific trade that will be taking place.
In this article you will learn:
Purpose of Screening Questions
When Screening Questions are asked
What are the Screening Questions on my instance of Canopy
Purpose of Screening Questions
Screening Questions allow Canopy to collect specific and relevant information to feed into its risk assessment.
Screening Questions are asked to both the Requestor (i.e. the business user internal to the customer who is requesting that a new supplier is onboarded) and the supplier themselves. In doing so, Canopy is able to collect robust information about the trade that is going to take place, and therefore make a more informed risk determination.
Because Screening Questions are asked of both sides of the transaction, Canopy is able to collect more accurate information. It is quite common for a Requestor's interpretation of what the supplier will do to be corrected when the supplier is asked directly.
When Screening Questions are asked
Screening Questions are asked both to the Requestor, and to the supplier.
Requestor Screening Questions
Screening Questions are first asked on the Request Form. The Requestor will need to complete these before they may submit their request for approval.
As soon as a Screening Question is answered, the platform will begin calculating the resultant risk. This risk outcome is visible to the Requestor, so they can build some understanding of the risk their supplier could pose the business
The Request Approver will be able to review this initial risk determination as part of their review process, before the supplier has been invited.
Supplier Screening Questions
When the supplier is invited, Screening Questions are also asked of the supplier. These questions may be the same as those asked to the Requestor, or they may differ.
As the supplier answers these Screening Questions, the risk assessment will continue to evolve. It is fairly common for a supplier to be designated as Low Risk during the Request Process, and for that risk to be elevated to High Risk once the supplier has provided more information.
Neither the Requestor nor the supplier are able to see the final risk outcome.
The Approvers of the Supplier Profile will need to take the supplier's risk into account as they perform their review.
What are the Screening Questions on my instance of Canopy
The exact Screening Questions that are asked will differ between customers. This is due to the varying nature of their businesses and the specific risk models that have been configured to suit their needs.
If you want to understand the specific Screening Questions for your instance of Canopy, please ask your Administrator.