Business Classifications

Business classifications support the tracking of supplier certifications that are important to companies for different reasons, such as for supplier diversity programs. Since classification requirements can vary by country or region, the classifications initially provided can be changed.

The business classifications table can capture multiple certificates belonging to the same business classification that were issued by different certifying agencies. Classification attributes that can be captured include Certifying Agency, Certificate, Start Date, and Expiration Date. In addition, attachments and notes can be captured for each classification record.

Each business classification can have a status of current, future dated, or expired. The application supports filtering the certifying agencies associated with a specific classification, based on the configuration in the Manage Certifying Agencies setup page. Use the Manage Certifying Agencies setup page to maintain certifying agencies that are recognized as authorized organizations for issuing classification certifications.

The following classifications are provided for tracking suppliers.

• Hub Zone

• Minority Owned

  • Subclassification: African American, American Indian, Asian, Hispanic

• Service-disabled Veteran Owned

• Small Business

• Veteran Owned

• Woman Owned

• LGBTQ+ Owned

• Person with Disability Owned

The name of the supplier contact that provides classification information and the date in which the classification was verified is recorded when saving the information.

The administrative supplier contact with an active user account is sent a notification about the impending classification expiration. Initial expiring notification and reminder notifications are triggered in regular intervals based on set parameters.