Are Your Vendors on the Verge of Bankruptcy?

How well do you really know your vendors? Considering that the success of your business hinges on the success of theirs, most organizations could stand to know their suppliers a little better. Businesses should have strict rules for setting up vendors in the master file. These rules are mainly designed to guarantee the accuracy of the data, make sure your vendor is authentic, and prevent potential duplicate payments. While these are necessary controls, there's one additional area that you may…