Each time I make a change to any of my personal accounts online, I receive a notification that at a minimum, says a change was made to my account and if I didn’t initiate the change, to contact them (hopefully not via a link in the email). Some sites go as far as preventing the change unless I confirm through email or go to the account and change a setting first (thanks Google :-)).
Coming up next how you can implement the same in your Vendor Setup & Maintenance Process.
Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or implementing authentication, internal controls and best practices to it from fraud.
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Debra R Richardson
MBA, APM, APPM, CPRS
Debra is an accounts payable speaker, consultant, and trainer with over 20 years of experience in AP, AR, general ledger, and financial reporting for Fortune 500 companies including Verizon, General Motors and Aramark.
For the past eight years, Debra has focused on Global Vendor Maintenance, and implemented a vendor self-registration portal for 140k+ global vendors across five Accounting Systems/ERPs. In her consultancy, she focuses on internal controls and authentication to prevent fraud in the vendor master file.