Vendor Master File

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Maintaining a vendor master file can be a complicated process for many teams. IOFM offer content to help you learn best practices to standardize vendor team activities to avoid payment fraud, compliance fines, and bad vendor data.

Q. Is there an industry standard that suggests payments should be held for a certain number of days… Read More
Q. We received a call from a vendor who was expecting a 1099NEC from us. The W9 form they sent to… Read More
Q. My company setup a vendor based on the W9 received back in Jan 2024 (W9 signed/dated Dec 1,… Read More
Q.  We have an agreement with a vendor from Denmark to loan us their artwork (sculpture) for… Read More
Q. I have my first foreign vendor transaction to process since Trump took office. Do I still follow… Read More
Q. More and more customers are requiring our company to complete “Vendor Forms” or similar… Read More

In today's fraud landscape, keeping your organization’s vendor and customer sensitive data from unauthorized access is critical. Implementing a security audit that includes least privileged is

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Q. I would like some feedback on experiences implementing or rolling out a vendor portal to your… Read More
Q. I have two foreign vendors that are missing a TIN or SSN. One is also missing  DOB. What… Read More

Maintaining accurate and up-to-date vendor addresses in your vendor master file is essential for financial operations.  If your vendor address information is out of date or missing your company

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