Five Steps to Take to Avoid Paying the Wrong Vendor

By Pam Miller, APMD - A common mistake in accounts payable departments is paying the wrong vendor. Sometimes it happens because vendors have similar names. Other times it happens simply because AP staffers are human and humans make mistakes. There a number of steps that can be taken to minimize the number of times this happens. Step #1: Eliminate manual data entry. One of the best solutions is to put in place a system in which the AP staffer doesn’t have to choose the vendor at all or do any…