Vendor Master File Governance Goes Far Beyond IRS Compliance

At one time, purchasing and accounts payable used different systems, each with its own vendor master file. Purchasing’s vendor master was a tool for issuing POs, while AP’s vendor master was a tool for entering invoices and cutting checks. “Little attention was paid to data quality or standards,” recalls Jon Casher, President, Casher Associates, Inc., a project management, process management, and information technology consulting firm. “In addition, there was virtually no attention paid to…