According to experts, 58 percent of companies suffered financial losses as a result of supply chain disruptions in 2008, and there is no better way to measure a supplier's ability than to ask one of its customers.
Those are themes that make eVendor Check, a pioneer in helping companies select reliable, high-quality suppliers worldwide. The Hawley, Wayne County-based firm determines supplier performance and risks by collecting direct customer feedback. Its laser focus and methods have been widely recognized as a potential game-changer. Ben Franklin Technology Partners of Northeastern Pennsylvania has been a huge fan, making multiple investments since the company was founded in 2008, including $200,000 in the last year.
The company hired a new CEO, Gary Hare, in early 2011 and also announced ambitious growth plans. eVendor Check hopes to grow from seven to 25 employees in the next three years and increase its customer base tenfold. The company has more than a dozen customers, including big names like Citigroup and Duke Energy, and will increasingly target small- to mid-sized companies.
To better serve more customers, eVendor Check is also working on a fully automated system with tutorials and an online help desk that will give customers more autonomy and ease of use.