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Procurement Market Intelligence Report

Reference & Background Checking Services Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Reference & Background Checking Services?

What is the average price of Reference & Background Checking Services?

This procurement report includes pricing information to help you purchase Reference & Background Checking Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Reference & Background Checking Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Reference & Background Checking Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Reference & Background Checking Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Reference & Background Checking Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Reference & Background Checking Services?

Among the estimated 3,000 providers of reference and background checking services, the top four operators account for less than 30.0% of total market revenue, signaling a low level of concentration. Most operators are small companies servicing a narrow geographic region, which hinders their ability to garner a significant amount of... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Customer Support

Do clients have dedicated representatives, or will clients have to call a general support line?

When problems with reports are identified, how are they resolved?

How do you evaluate customer satisfaction?

How are client accounts serviced? What systems do you use to manage accounts?

Implementation

What is your process for implementing resources for new clients?

What is the average time it takes to set up new clients? Does it vary significantly depending on size?

How do you train clients to use your services?

How do your systems help clients track background checks and organize information?

Company Credentials

Are you a member of any associations, such as the National Association of Professional Background Screeners?

Have you suffered from security breaches in the past five years, such as employees stealing personal information?

What procedures do you have in place to audit your services for regulatory compliance?

Have lawsuits or complaints been filed against your company for reporting inaccurate information or for privacy issues? How did you remedy these situations?

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Key elements for every RFP

What should my Reference & Background Checking Services RFP include?

Project Budget

Buyers should disclose the overall budget for the project, if relevant.

Buyers should state their preferred pricing model and terms of payment.

Selection Criteria

Buyers should evaluate vendors' ability to meet their service requirements.

Buyers should evaluate vendors' experience working with comparable clients.

Buyers should evaluate the extent to which vendors provide customer support.

Buyers should evaluate vendors based on their proposed fees for the project.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include the date when proposals are due and any other relevant dates (e.g. interviews) prior to the contract award.

Buyers should include the date when services begin.

Evaluate major factors to mitigate risk

How risky is the Reference & Background Checking Services supply chain?

Reference and background checking services have a low level of supply chain risk. Suppliers of these services do not depend on any highly risky or difficult-to-source inputs to carry out services. That being said, many of these services are conducted online, so computers and internet connections are vital for suppliers.... Subscribe to learn more.

HIGH

MEDIUM

LOW