International Personal Finance recognises that it has a responsibility to manage its indirect impacts and aims to consider the ethical, social and environmental impacts that arise from purchasing decisions.
We co-operate professionally with our supplier partners, developing long-term, trusting relationships based on our values and mutual benefits. We want our suppliers to be informed about and engaged with our business so they are better able to understand how their products and services contribute to the delivery of our goals.
Our Voice of Supplier survey, undertaken at the end of 2020, helped us better understand our strengths and address areas for development. In response, we are developing a Supplier Relationship Management strategy devoted to a procurement standards for strategic and critical partners including defining supplier strategy, contact frequency, partner ratings, and regular two-way qualitative feedback.
The Board recognises the importance of partnering with suppliers that share our values and sustainable approach to business. The Board is fully supportive of the operational policies and procedures in place that help to govern and guide these relationships.
In 2021 the Group’s Responsible Procurement Policy, which consolidates the process and standards that must be followed when choosing and working with suppliers, was refreshed to ensure that all IPF Group companies only collaborate with responsible suppliers.