Third Party Verification Outsourcing

Third Party Verification Outsourcing

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IntroductionThird party verification or TPV services as it is commonly called, is the process where an independent party or vendor is hired to validate the information provided by the client. This is done in order to check the accuracy of the data and to make sure that the information provided for various sensitive processes such as online transactions is valid.

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Outsourcing third party verification services

For companies that lack expertise and resources in having a dedicated TPV department, the option of outsourcing to a reputed firm is suggested. It also enables them to focus on their core business as they have got experts taking care of their data verification requirements.


When to use TPV?

To cut down on the extra expenses to hire and staff the human resource for a dedicated TPV department, to reduce the workforce, to ensure smooth functioning of TPV operations, and to handle the increased demands on TPV services companies usually consider the option of outsourcing TPV.


Why TPV?

In many countries long distance service providers, especially telemarketing firms need to perform third party verification services. It is illegal otherwise to conduct any such business without using TPV services.


Firms that use TPV

Those business owners who take online transactions also need to perform TPV. Insurance Companies, Appointment Setting, Security Companies, Healthcare & Hospitals, Travel and Vacation etc. are some businesses that depend on the expertise of Third party verification services.


The trust factorA lot of businesses are conduct online these days. The parties involved interact virtually. So needless to say, they operate on a mutual trust and confidence basis. TPV services can further strengthen that trust.


E commerce use TPVOne of the most important aspect of online shopping is granting the customers that their credit card details are secured and will not be misused. E coms depend on third party verification services to verify the customer’s details and at the same time let the shoppers know that they are equipped with methods to protect their crucial details.


TPV for B2B telemarketing

Businesses need help of other businesses from time to time. To expand their functions they often depend on other companies. To ensure that they are not getting in touch with frauds and scamsters, they use TPV services to do a “fraud check”.


Benefits of third party verification services

It improves the quality of business. It ensures that all the aspects of the trade and legit and credible. No business wants to get into trouble with the government. So it is important to have a reliable and good TPV services provider to ensure that everything is being done according to the norms set up by the regulating body.


Data accuracy

The best thing about TPV services is that they ensure that data is complete, accurate and consistent. So in addition to following the legal norms, third party verification services also ensure that the business is free from data redundancies and inaccuracies.


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Employment of technology

TPV vendors depend a lot on technology to validate, store and maintain data. Organizing data after it has been verified is a very tedious job and demands technical intervention. If the information needs to be changed and updated, it ca be easily done using specialized software.


Conclusion

TPV is imperative as it has been made compulsory by the government to keep a check on data theft, fraud and

other cybercrimes. It also helps the companies to determine the authenticity of the prospects and clients

they are dealing with.


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Third Party Verification Outsourcing

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