Join Me: IOFM APP2P Fall Conference & Expo October 15 -18, 2019 in Scottsdale, AZ!

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HOW TO PREVENT FRAUD WHEN SETTING UP AND MAINTAINING YOUR VENDOR MASTER FILE

Post Conference Workshop on October 18, 2019 from 9-12 pm

In today’s reality of cyberattacks and fraud, the vendor master file is now getting the attention it deserves. Whether you have no clearly defined process, a paper form or a vendor self-registration portal, vendor setup and maintenance processes can be improved to reduce the potential for fraud. This practical and tactical course will walk you through the three steps VMF guru Debra Richardson teaches when she helps companies minimize the risk of VMF fraud.

  •  Step 1: Authentication — How to confirm the source of the data you received for the Vendor Master File is not fraudulent.

  •  Step 2: Validation – Steps to vet that the vendors entered into your Vendor Master File are real. Validations for vendor setup and maintenance to reduce the potential for fraudulent vendors or data entered into the vendor master file.

  •  Step 3: Management – Keys to maintaining a clean Vendor Master File by performing periodic maintenance on existing vendors.

What You Get:

  • 6 Authentication Techniques

  • 12 Vendor Master Internal Controls

  • 13+ Vendor Master Best Practices

  • 8 Step Process for Vendor Master File Clean Up

  • 5 Step Process for Mergers & Acquisitions into your Vendor Master File

  • Create Customized Vendor Validation Resource with Links

  • Create Customized Authentication Matrix Template

NEW! IOFM Master Class: Vendor Master File - Get Discount Code for 10% Off

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The vendor master file (VMF) is a cornerstone of the procure-to-pay process. Data entered in the VMF can drive efficiencies and ensure accuracy in the creation of requisitions, purchase orders, invoices, payments, and entries to the general ledger. This Master Class is designed to provide employees who handle the VMF with best practices concerning onboarding, compliance, internal controls and management. This class includes an e-textbook, short video and three attempts at the final exam. Enrollment expires one year from date of purchase. 

Use Discount Code: HAPPY19 for 10% off

Click here to go to enroll on the IOFM Site