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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. Can you tell me some best practices and/or procedures when enrolling vendors unto ACH? How do… Read More
Q. I would appreciate your input on how to handle situations involving changes in supplier names… Read More
Q. When establishing internal controls for the initiation of a new vendor setup within our system,… Read More
Q. What documents should we collect for Canadian vendors? Note, this would be a Canadian vendor and… Read More
Q. We have a Supplier let's call them Brown Corp, TAX ID 91-2345678. Brown Corp. was acquired by… Read More
Q. We received a letter from a vendor stating they assigned their AR to a factoring company. They… Read More
Q. Within your organization, who completes supplier credit applications? And is that group also… Read More
Q. How are you confirming banking information for foreign vendors? Are you obtaining voided checks… Read More
Q. I have a question related to OFAC compliance. I’d like to understand what best practice is… Read More
Q. We are considering changing the way we bring in new vendors which would include a vendor… Read More
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