Are Your Vendors Real?
Authentication - Techniques to confirm the data you received for the Vendor Master File is not fraudulent.
Validation - Confirmation that the vendors entered into your Vendor Master File are real.
Management - To maintain your clean Vendor Master File by performing periodic maintenance on existing vendors.
Empowering Accounts Payable Teams To Protect the Vendor Master File From Fraud
Your company’s IT resources have controls in place to protect your systems, but who trains your vendor team to authenticate requests and spot fraud attempts? Today’s fraudsters are targeting your vendor team to release vendor sensitive data using phishing and other social engineering schemes through voice and email.
Fill the gap by providing training for you and your team members to reduce the potential for fraud.
Implement internal controls and authentication techniques to protect you and your team members from adding fraudulent vendors or updating existing vendors with fraudulent data in your vendor master file.
Apply a vendor setup and maintenance process that authenticates, validates and manages your vendor master file for valid active vendors.
#StayhAPpy. Protect the Vendor Master File from Fraud. Keep the Vendor Master File Clean.