Verification of vendor master file requests

October 9, 2019

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Q. How do companies verify whether a vendor master request was truly made by the vendor and is not fraud? What tools do they use to confirm vendor master requests? A. (Answered by the IOFM Advisory Panel) ----- We only add vendors that we have a W-9 and invoice for. Our vendor update team verifies the TIN match information before they add the vendor to our system. If it’s a change to an existing vendor, we will either phone the vendor directly or have the person that usually approves payment to…

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