The Vendor Data Time Bomb: Why Outdated Supplier Information Creates Fraud Risk

For many organizations, the greatest payment fraud risk isn’t a sophisticated cyberattack.  It’s outdated supplier data in the vendor master file.  Vendor records often contain aging information, unverified bank account details, and changes that were never independently validated.  These gaps create the perfect opportunity for fraudsters to manipulate vendor data and redirect payments.

In this webinar, our speakers explore why poor vendor data hygiene creates hidden risk in the invoice-to-pay process, and what AP leaders must do now to strengthen controls.  You’ll learn where traditional supplier onboarding and verification processes fall short, and what leading organizations are doing to ensure supplier data is validated, accurate, and continuously monitored.

What you’ll learn: 

• Why outdated vendor records create one of the biggest fraud risks in AP
• Why weak supplier onboarding and vendor information management processes expose organizations to payment diversion scams
• Why traditional vendor onboarding and bank verification methods are no longer enough
• Best practices for maintaining vendor master file hygiene 
• How continuous monitoring of vendor data changes can dramatically reduce fraud risk

Mark Brousseau
President, Brousseau & Associates 

Over the past 30 years, Mark Brousseau has established himself as a thought leader on accounts payable, accounts receivable, payments and document automation.   A popular speaker at industry conferences and on webinars and podcasts, Brousseau advises prominent end-users and solutions and services providers on how to use automation to improve document- and payments-driven business processes.  Brousseau has chaired numerous educational conferences and has served on several industry committees and boards.  He resides in Center City Philadelphia with his wife and three sons.

Phil Binkow
CEO, Financial Operations Networks

Phil Binkow is CEO of Financial Operations Networks, developer of the InvoiceInfo and VendorInfo vendor portals. In 2002, FON founded The Accounts Payable Network, the leading training, certification and best-practice resource for individuals with management responsibility for accounts payable operations. Prior to starting Financial Operations Networks, Phil was CEO of PayTECH, one of the world’s largest invoice processing and spend analysis Software-as-a-Service companies.