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Vendor Master File
Maintaining a vendor master file can be a complicated process for many teams. IOFM offer content to help you learn best practices to standardize vendor team activities to avoid payment fraud, compliance fines, and bad vendor data.
Q. I would like some feedback on experiences implementing or rolling out a vendor portal to your… Read More
Q. I have two foreign vendors that are missing a TIN or SSN. One is also missing DOB. What… Read More
Maintaining accurate and up-to-date vendor addresses in your vendor master file is essential for financial operations. If your vendor address information is out of date or missing your company
… Read More
Q. Vendor Maintenance: when our plants are submitting documentation for a vendor set up in our ERP… Read More
Q. I have never see an "account frozen/returned per OFAC request" before. I did some research… Read More
Q. We are using DocuSign to request ACH information from our vendors with a form that provides the… Read More
by Debra R. Richardson
If your company is a U.S. entity and your function is vendor setup and maintenance, you most likely are already familiar with the requirement to check your vendor’s legal… Read More
Specialized Vendor Team Processes For Handling Non-U.S. Vendors Effectively
by Debra R. Richardson
Train on Financial Information Collected and Accurate Entry
Money Transfer Codes
One of the… Read More
Q. What are the best websites to use for checking supplier name, address and TIN to make sure the… Read More
Q. We manually verify our vendors using IRS OFAC screening before they are added to our system.… Read More
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