Keep Vendor Master Files in Optimal Shape

Vendor master files are essential. Not only do they affect accounts payable, they also impact your purchasing department and have the potential to bring tension to vendor-client relationships. Therefore, the importance of clean vendor master files should not be overlooked.
Unclean vendor master files can cause you to miss out on discounts and contract incentives. They may also lead to inaccurate spend analysis, reduced negotiating power, tax reporting and compliance issues, fraud, and duplicate payments.

Our 5-Step Cleanse Program Can Help

We’re pleased to provide a comprehensive analysis of your vendor master file via our 5-step cleanse program. The ideal benchmark of this process is to ensure that 65% of the vendors available in the active system are of active usage in the past 12 months. This indicates that underlying business processes are thoroughly optimized.

What to Expect From Our 5-Step Cleanse Program

To complete the cleanse, you must:
  • Deactivate unused vendors.
  • Deactivate vendors you haven’t used for over 48 or 36 or 18 months.
  • Deactivate duplicate vendors.
  • Analyze remaining vendors for missing data.
  • Match and verify taxpayer identification numbers.