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.

Managing Your Vendor File

It's almost impossible to keep track of your vendors, let alone how much business you're doing with them or where they are located. Mergers, acquisitions, divestitures and name changes are happening… Read More

Zip Your File with ZIP Plus 4

Anyone familiar with the U.S. postal system understands the importance of ZIP codes in making sure mail gets to the right destination. However, did you know that ZIP codes can also play a part in

State Business Entity Databases

Each state's Secretary of State department maintains a database of public businesses that have acquired a business license within the state. Any entity seeking to verify a business can use the state

Always Get a W-9 Form or Equivalent Before Paying a New Vendor

Vendor Threatens Lawsuit - Penny L. Kenealy, accounts payable manager at Colorado Mountain College, recounts an incident that underscores the necessity for the proper vetting of vendors. "An irate… Read More

Purging and Maintaining the Master Vendor File

When the vendor master file is not properly purged and maintained, accounts payable departments can experience vendor data-entry errors such as incorrect billing addresses, according to Iquo