Vendor Registration: Process, Forms, Requirements & Templates

Did you know that almost 50% of Indian businesses are now dealing with procurement fraud? So, it’s no surprise that businesses are adopting online vendor registration through e-procurement platforms to stay clear of muddy water. However, for enterprises and suppliers new to the digital onboarding system, there are a lot of burning questions. What is vendor registration? How to fill in vendor registration forms?

In this article, we will tell you all about the process of vendor registration, forms, requirements, templates and more.

What is Vendor Registration? 

As the name suggests, it is the process where a supplier registers itself as a vendor for a company. Large companies working with multiple suppliers find it hard to scheme through vendor applications during the selection process. Hence, in recent times, companies are accepting verified vendor profiles through their own procurement platform or through vendor portals.

Suppliers register themselves on the procurement or vendor portal through a vendor registration form. The process records essential vendor details such as company information, product details, bank information, compliance documents, past project details, etc. With this pool of verified vendors to access at any time, companies streamline their vendor management and create a safety net against future supply chain disruptions.

Benefits of Vendor Registration 

Let’s see how the vendor registration process benefits both the suppliers and the company in many ways.

Benefits for suppliers 

• Vendors get easier access to business opportunities as it increases the chances of receiving contracts and purchase orders.
• Verified vendor information enhances credibility for consistent business deals.
• Pre-approved banking and tax details reduce payment delays and results in faster payment processing.
• Vendors receive clear expectations on requirements, compliance, and procurement processes, thereby enjoying streamlined communication.

Benefits for companies 

• Screening vendors ensures compliance with regulations, reducing fraud and operational risks.
• Approved vendors help negotiate better pricing and improve supply chain efficiency.
• A digitised onboarding process saves both time and resources for the company. 
• Centralised vendor data streamlines approvals, orders, and payments.

Vendor Registration Form 

A vendor registration form is a document to gather important data about interested suppliers. Previously, it used to be a paper-based process. But, nowadays, companies are leveraging vendor portals to automatically collect and centralise all vendor information to speed up the process. 

Here is an example of a vendor registration form template. 

Vendor Registration Process 

Every company has different types of vendor registration processes. Here is a brief overview of the vendor registration process and how to fill a vendor registration form.  

Step 1: Sign up as a new vendor 

First, as a supplier, you need to register your business on the vendor portal of the company that you wish to work with. To do this, visit the vendor portal and go to the vendor registration page and sign up as a new vendor. They will typically ask you to fill in basic information, such as: 

• Name of the company 
• Year of establishment 
• PAN card number and GSTIN 
• Registered office address 
• Contact details (email ID, phone number, etc.)

After submitting these basic details, you will receive a confirmation email with your application number and password. You need to click on that confirmation link and log in to your vendor page with the given credentials to activate your account. 

Step 2: Fill out the vendor registration form

The vendor registration form will ask you to fill up all the details necessary for the buyer company to validate your eligibility for procurement. You will go through a series of sections to fill up, such as: 

Basic information 

The vendor registration form will automatically reflect your basic information collected during the sign up process. Additionally, it might ask for some extra information, such as the registered office address, company phone number, etc. 

Contact details 

This section would require you to enter the following details of a contact person for future correspondence. 

• First name
• Last name
• Email address
• Job title 
• Office number
• Mobile number

Supply/Service details 

Next, you will be asked to enter your supply or service details. If you are looking forward to supplying different types of items, you have to list them individually with product descriptions and price per unit (minimum and maximum). If you’re a service provider, you will be asked to list your service offerings along with the pricing structure. 

Financial details 

Here, you have to enter your financial details, such as

• Details of net profit or annual turnover for the last three consecutive years 
• Value of the largest single order executed in the past 
• Bank account details 
• Details of major contracts executed in the past

Other relevant details 

Depending on the nature of the work, you may be asked to furnish other details. For instance, you would be asked to furnish: 

• Statutory licenses 
• Manpower details 
• Tax Identification details (if not furnished earlier)
• Certifications (such as ISO, ESG, diversity, etc.) 

It basically varies from one company to another. 

Step 3: Upload documents 

Next, upload the necessary documents mentioned in the form to verify your credentials and capabilities as an ideal supplier. We have provided a detailed list of documents required for vendor registration in the upcoming section. 

Step 4: Pay registration charges (optional) 

Vendors may need to pay a one-time non-refundable fee when applying for a new registration. However, not all companies charge a vendor registration fee.

Step 5: Declaration 

This is the final step, where vendors acknowledge that all entries in the application and the enclosed attachments are true to the best of their knowledge.  

Once verified, the vendor is added to the list of approved suppliers. Vendor details are integrated into the company’s ERP or procurement system, and vendors receive onboarding materials, including policies, payment terms, and expectations. In some cases, vendors also receive the ‘Supplier code of conduct’ policy from the company.

Digital vendor portals enable vendors to update their profiles periodically to maintain compliance. 

Vendor Registration Requirements 

Before you initiate the vendor registration process, it is important to have all company and product (or service) related information ready with you. And while vendor registration requirements differ between organisations and between countries, here are certain standard vendor registration requirements across the globe:

1. Business Information

This includes data about the business such as the trade name/legal name, business type, company address and contact details, etc.

2. Tax and Legal Compliance 

This includes details such as-

• Tax Identification Numbers (GSTIN, PAN, etc.)
• Tax compliance certificates (GST returns of the past 6 months, income tax returns of the past 3 years, etc.)
• Valid licenses for business registration, imports/exports, etc. as well as the applicable industry-specific trade permits. 

3. Financial and Banking Information

This includes-

• Bank account details 
• A void cheque or bank confirmation letter
• Audited financial statements
• Payment terms (For example, Net 60)

4. Products and Services Offered

This includes information relating to the number of years the supplier has been operating for, and details of major clients or major projects completed. It also includes an updated list of all products and services offered by the supplier, along with the applicable rates per unit.

5. Compliance and Risk Management

This includes insurance policies, anti-corruption policies, workmen’s compensation policies, labour welfare policies, and certifications for cybersecurity, sustainability, etc.

6. References and Supporting Documents

This includes data such as client references, code of ethics, diversity certifications (if applicable), etc.

7. Signature 

This includes the name of the authorised signatory and a digital signature or other such format as may be prescribed by the buyer company.

Documents Required for Vendor Registration 

Here is the list of most commonly asked documents during vendor registration: 

• Business license or company registration certificate
• Articles of incorporation or partnership deed
• GST registration
• PAN card
• Address proof
• Audited balance sheet for the last three years
• Profit and loss account or annual turnover details of the past three years
• Income tax returns for the past three years 
• Proof of the largest single order
• Shops and establishments registration 
• NSIC registration certificate (if applicable)
• MSME certificate (if applicable)
• Credit-worthiness from banker 
• EPF registration (required for contractors)
• ESIC registration (required for contractors)
• A void cheque or bank confirmation letter
• ISO certification (if any)

Apart from these, suppliers must be requested to submit other necessary documents as per the job requirement. It varies from one company to another.

Vendor registration is necessary for companies as well as suppliers. With pre-verified vendor details, the procurement process runs smoothly, in line with the necessary compliance and legal requirements. However, before filling up the vendor registration form, have soft copies of all necessary documents in the proper format to smoothly complete the process.