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.

IOFM Members rely on “Ask the Expert” whenever they’re stumped. IOFM's tax experts are standing by, ready to answer your 1099 compliance questions. And a panel of more than 100 AP practice leaders are also on call for your next best practice question.

Best Practices for Grouping Suppliers in Onboarding Processes

Q. Is there a industry standard way of grouping suppliers? We are trying to understand our supplier… Read More

The Tariff Impact on Your Vendor Process

Tariffs are reshaping global trade, forcing companies to review their sourcing strategy and the vendors they use, which inherently elevates fraud risks. This environment provides opportunities for

Fraudulent Vendor Payment and Liability Considerations

Q. I work for a community college and we had a real vendor reach out to us in June of 2025 with a… Read More

Best Practices for Vendor Naming Conventions in Your Master File

Q. We are working on a vendor clean-up in our system and are wanting to align our vendors with best… Read More

Leadership in the Face of Fraud: A Fraud Response Plan for the Vendor Process

Vendor Payment Fraud Is Escalating — Is Your Team Prepared? Email-based Business Email Compromise (BEC) attacks are growing more targeted and deceptive, especially when vendor changes rely on

Handling Vendors Using Multiple Tax IDs

Q. We have a long-standing vendor that has now merged with another company. They state that payment… Read More

What Documents Are Needed to Validate a Canadian Vendor?

Q. What documents or information are needed to validate a Canadian vendor and what application can… Read More

NetSuite 1099 Vendor Categorization and Year-End Reporting Best Practices

Q. I’m hoping to get some real examples from people that use NetSuite ERP system. 1. How do you… Read More

Is Your Organization More of a Target After Fraudulent Payment? Yes

B2B payment fraud remains a major threat, with business email compromise (BEC) remaining the primary attach vector. New survey data shows not only rising vendor impersonation fraud, but also that