Building a vendor onboarding KYC checklist that scales
A repeatable vendor KYC checklist cuts onboarding from days to minutes and keeps procurement audit-ready. Here is a starting template.
Identity of the entity
GSTIN verification (status, legal name, state), the embedded PAN check, and, if the vendor operates in multiple states, the full PAN-to-GST map. This establishes the vendor is a real, registered, active business.
Identity of the signatory
PAN of the authorised signatory, matched against the board resolution or authorisation letter. For proprietorships, the proprietor PAN is the entity PAN.
Payment details
Bank account verification (IFSC plus account plus name match, penny-drop for the first payout). Store the verified beneficiary name and pay only to that.
Ongoing
Schedule a re-verification of GSTIN status and bank details before renewals and before any payout above a threshold. Keep every check result attached to the vendor record with its date.