The vendor master file is a company’s greatest control when it comes to protecting its cash. Loose controls and lack of maintenance of the vendor master file open a company to: fraud, an increase in duplicate payments, an inability to accurately analyze spend, and inefficient use of resources. Unfortunately, many companies are challenged with maintaining this dynamic file due to its size and lack of fit-for-purpose tools.
DataShark A/P enables an organization to easily integrate regular, more manageable maintenance of the vendor master file into its regular processes, e.g. quarterly, versus it becoming the behemoth project it usually develops into.
Ownership & Accountability Are Essential to Clean Vendor Master Files
5 Steps to Cleaning Up Vendor Master Files
One Simple Question That You Can’t Answer