Home > Suppliers > Supplier selection
Supplier selection
True to its management philosophy, Caja Madrid has established a procurement and supplier certification system which defines the steps to be followed in negotiation, acquisition, contracting and payment, based at all times on transparent selection and approval criteria:
- The service to be provided is documented with the legal department, and the formal requirements established in writing.
- The selection process (initial assessment) for a new supplier is based on a checklist of criteria to ensure they have the technical capability in place. Also, depending on the kind of product or service to be provided, they may be asked to furnish official accreditation or certification and references.
- Checks are run during continuous assessment on the quality of supplier service, with reference to results obtained, compliance with labour, tax, accident prevention regulations etc., and alignment with the operating principles of Caja Madrid.
- Regular meetings are held with suppliers to discuss their general performance and specific incidents.
- Supplier payment is verified via the relevant accounting entries. This is done through an automated process to avoid any delays with respect to agreed payment periods.
Security providers warrant a special mention due to the importance of their work. The selected supplier must not only guarantee employee security, but must also uphold the service quality and social responsibility which characterises Caja Madrid.
Consequently, security personnel hired by Caja Madrid attend a number of training sessions:
- Presentation on Caja Madrid’s business and corporate culture, and the features of the building where they are going to work.
- Course on protocol and customer care.
- Talks on emergency plans and procedures.
- Course of first aid.
- Course on fire prevention.
- Specific talks on security systems.