Vendor Master File


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.

Confirming Remittance Changes Despite Language Barriers and Time Zone Differences by Debra R. Richardson When a U.S. vendor makes a change to its banking details for an electronic payment or a… Read More
Q. I have always been told to follow the tax ID when updating vendor information. For example,… Read More
Q. We have a company that is changing name and tax ID. The vendor is providing the same materials,… Read More
Q. We are in the process of updating bank details for one of our suppliers. Part of the process is… Read More
Q. We have a vendor located in the UK that is billing us in British Sterling but is providing a… Read More
Free Resources to Validate Money Transfer Codes for Non-U.S. Banks  by Debra R. Richardson When making electronic payments to your vendors, it is critical to ensure the banking details are good… Read More
Watchlist Options for Non-U.S. Vendors - by Debra R. Richardson As part of the vendor setup and maintenance process, vendors may need to be checked against applicable watchlists to avoid fines and… Read More
Q. Does IOFM have a recommendation for the best way to solicit sensitive data from vendors in a… Read More
Q. We have run across multiple situations with vendors going through a name change (with the TIN… Read More
Q. We have a vendor that submitted an invoice with one name and a W9 with another name. They need… Read More

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