Huntington National Bank (Huntington), through its Corporate Procurement team, is committed to developing supplier relationships that help drive efficiency and profitability by leveraging supplier spend across Huntington, including its subsidiaries and affiliated entities. Huntington is committed to the communities it serves and has developed sourcing strategies with consideration to local, minority, women, lgbt, disability and veteran owned businesses. Huntington awards business to its suppliers through a competitive process, based on the best overall value to Huntington, including quality, experience, capability, diversity, local community commitment, price and relationship.
If you are interested in introducing your company to Huntington as a potential supplier, please email your company name, title, and contact information to firstname.lastname@example.org and we will reach out to you.
Huntington strongly encourages automation in the end-to-end procure-to-pay cycle through the following processes:
- electronic requests for proposal
- online catalogs
- transmission of electronic purchase orders
- receipt of electronic invoicing through comma separated value (CSV), XML or EDI files
- electronic payments via ACH
Purchase orders are subject to Huntington's standard purchase terms and conditions . Huntington's standard payment terms are 30 days from the date it receives an accurate invoice, unless alternate payment terms have been negotiated and are included in the supplier's written agreement with Huntington. Suppliers are encouraged to establish direct deposit to help streamline the payment process. Direct deposit payments will be accompanied by an email notification containing relevant remittance information. For tax reporting purposes, all suppliers must provide a completed, signed and dated IRS Form W-9 in order to receive payments. An IRS Form 1099-MISC will be issued if reportable payments are equal to or greater than $600 in a calendar year. Submit the direct deposit form and/or the Form W-9 to: email@example.com.
Supplier Risk Management and Performance
In compliance with regulatory guidelines and leading business practices, Huntington conducts initial and ongoing risk evaluations of its suppliers. Initial due diligence reviews of potential suppliers are performed based upon the scope of services to be provided and the potential risk to Huntington associated with these services. Due diligence reviews are performed in an effort to:
- Understand goals and objectives surrounding the proposed engagement in conjunction with the total cost of ownership
- Validate that activities (i) are to be conducted in a safe and sound manner; (ii) comply with regulatory guidance; and (iii) are in line with industry leading business practices
- Identify, assess, quantify and mitigate risks that may be associated with services to be provided
- Understand how controls and performance expectations will be actively managed and monitored on an ongoing basis
Requests made to potential suppliers may include, but are not limited to:
- Participating in a Request for Information (RFI), Request for Proposal (RFP), reverse auction and/or other method of supplier selection
- Completing risk questionnaire surveys to review risk areas determined to be applicable to the service
- Reviewing supporting documentation and/or on-site review to validate responses to surveys
- Presenting a product, service, technology and/or system architecture overview, as applicable
- Providing names of clients to be contacted as reference checks
- Supplying proof of employee background checks, as applicable
- Providing minority or veteran-owned certifications, as applicable
Huntington's Corporate Procurement team partners with its business segments to develop robust supplier risk and performance management plans. In accordance with regulatory guidance, these plans include an evaluation of risks inherent to a particular product or service and the control environment established by the supplier, as well as a defined process to periodically monitor the supplier's performance. Supplier risk and performance management plans may include on-site visits to a supplier location, periodic review of the effectiveness of security and disaster recovery policies, ongoing monitoring of a company's financial health, review of audit reports and other evidence of effectiveness of internal or external controls and evaluation of service level agreements and key performance indicators.
Formal supplier performance reviews may also be conducted through regular in person meetings for significant supplier relationships. Through these face-to-face conferences Huntington strives to:
- Provide a venue for problem resolution and continuous improvement
- Improve communication between Huntington and its suppliers
- Align supplier's goals and objectives with Huntington's
- Measure established performance expectations and service level agreements
- Identify opportunities to leverage supplier spend and improve cost savings
- Drive continuous improvement
Huntington knows that inclusion is key to innovation, which is why it has created an inclusive culture, where everyone's resources are recognized and considered in achieving Huntington's goals.
Our internal Diversity and Inclusion Strategic Council serves as the governing body to identifying barriers for impactful supplier diversity execution. This collaborative approach is designed to increase business capacity and opportunities for diverse companies within each business segment.
To qualify as a Huntington diverse supplier, the business should have a current certification from one of the following agencies or their regional affiliate:
- National Minority Development Council (NMSDC)
- Women's Business Enterprise National Council (WBENC)
- National Gay Lesbian Chamber of Commerce (NGLCC)
- National Veteran Owned Business Association (NaVOBA)
- Government Agency (City, State or National)
Diverse supplier - a company that has at least 51 percent owned, controlled and operated by a Minority; Woman; Veteran; Disabled or Lesbian, Gay, Bisexual, or Transgender person.
Second-tier direct spend (Tier II) – second-tier direct spend is the process by which a contracted majority supplier subcontracts to a qualified diverse business for goods or services that directly support the fulfillment of a Huntington contract.
Second-tier indirect spend – Spend contracted with diverse suppliers which has been prorated based on supplier sales and/or percentage of a supplier's total revenue. Second tier language will be incorporated into contract language.
Huntington is dedicated to uncompromising integrity in all that it does and how it relates to its internal colleagues and to persons outside Huntington. The Huntington Service Provider Code of Conduct reflects the values that define Huntington and the principle that even the appearance of impropriety must be consistently avoided. To that end, Huntington requires that all suppliers (and/or third parties acting as agents of Huntington) conduct themselves with the same high standards of honesty, fairness and integrity. Suppliers must abide by all applicable federal, state and local laws, rules and regulations while assuring that all services are conducted with a high degree of professionalism and in accordance with the terms and conditions of the relationship. Breaches of the Code may be reported by calling (866) 596-0677.