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.

by Debra R. Richardson If your company is a U.S. entity and your function is vendor setup and maintenance, you most likely are already familiar with the requirement to check your vendor’s legal… Read More
Specialized Vendor Team Processes For Handling Non-U.S. Vendors Effectively by Debra R. Richardson Train on Financial Information Collected and Accurate Entry Money Transfer Codes One of the… Read More
Q. What are the best websites to use for checking supplier name, address and TIN to make sure the… Read More
Q. We manually verify our vendors using IRS OFAC screening before they are added to our system.… Read More
Watch Out for These Unique Risks When Onboarding Non-U.S. Vendors by Debra R. Richardson If your company is global, you may need to onboard vendors from different countries and regions. This can… Read More
Q. I have a question on the proper setup of a supplier if they complete Line 1 of a W-9 with their… Read More
Non-U.S. Privacy Laws May Affect Vendor Information - by Debra R. Richardson In the ever-evolving world of data privacy, it is crucial for vendor teams to stay abreast of the various laws and… Read More
by Debra R. Richardson In the ever-evolving world of data privacy, it is crucial for vendor teams to stay abreast of the various laws and regulations that govern the handling of personal… Read More
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

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