Security News > 2021 > October > Safeguarding the B2B sharing economy

The market for the B2B sharing economy isn't small, with almost every business now leveraging sharing companies to take advantage of all sorts of services that might range from manufacturing, logistics, and warehousing to software development, computer hardware rental, and online HR & payroll services, to name a few.

A crucial point that many businesses engaged in the B2B sharing economy are increasingly aware of is that engagement often carries considerable liability risk, which is why it is of utmost importance for businesses to insure against this risk with robust verification services.

BCC Research predicts that the global sharing economy market value will reach $1.5 trillion by 2024, up from $373.7 billion in 2019, with the B2B segment growing at a rapid clip.

B2B sharing economy companies are different from typical vendors.

The onus to thoroughly vet B2B sharing economy vendors and contractors is on the business that hires them, but that often doesn't happen.

Most qualifications are highly specialized and particular - not broad and universal like a driver's license - but in some cases, the ability to verify both micro and macro credentials is necessary and can be effective at reducing risk and liability and ensuring brand integrity, profits, and growth in the B2B sharing economy.

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