Vendor Master File

Q. I would like to know how others are handing vendor validation. Here are my questions:  What… Read More

by Debra R. Richardson, MBA, APM, APPM, CPRS

Each time I make a change to any of my personal accounts online, I receive a notification that, at a minimum, says a change was made to my account and if

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by Debra R. Richardson, MBA, APM, APPM, CPRS

Urgent vendor setups are a common scenario in Accounts Payable (AP), especially for non-PO spend when the request for the vendor setup is not triggered

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Q. Does the use of vendor portals reduce or prevent ACH fraud? A.  (from the IOFM Advisory… Read More

Q. Is anyone currently using an outside vendor to handle the reconciliation of vendor… Read More

A recent benchmarking survey by IOFM indicates that overall, more than half of the vendors in respondents’ vendor master files are inactive. 

While organizations with better

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“Ownership” of the vendor master file varies among organizations, though for a sizable majority

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Maintaining the vendor master file (VMF) is one of the most challenging tasks in Accounts Payable. Even if every vendor’s information has been set up with perfect accuracy and you are the AP's… Read More

by Chris Dritsas, Accounts Payable Manager

Use Win-Win Communication in a Client-Facing AP Environment

Top-quality customer service to both internal and external customers is our number-one goal in

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by Chris Dritsas, Accounts Payable Manager Use Win-Win Communication in a Client-Facing AP Environment Top-quality customer service to both internal and external customers is our number-one goal in… Read More

Q. (cont.) ... to deactivate the old vendor and create a new vendor with the new name, or to

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