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Vendor Master Cleansing Archives - Vendor Portal Expert

Vendor Master Cleansing

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Vendor File cleansing

Vendor Master Cleansing is a topic that is gaining in popularity. Recently Shanna Flynn of Lavante wrote a blog comparing Vendor Master Cleansing to cleaning your room at home. The bigger your company gets, the greater are the chances that your vendor master file will become filled with missing, outdated, inconsistent information, duplicate files, and other problematic vendor related information under the same corporate umbrella. Vendor Master...

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master vendor file clean up

Master Vendor File clean up is a challenging process for companies large and small. Here’s a very common scenario for many companies. An active and respected vendor has their contract expire, and they no longer do business with your company. The good news is that while they were active, you were able to collect all of the necessary “Know You Supplier” documents and data elements. You...

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supplier database cleansing

Your Supplier Database contains the data that is the foundation of most of you day-to-day purchasing decisions. Regular scrubbing is not only a best practice, but it is a necessary process if you hope to optimize your core enterprise functions. There’s plenty of room for improvements in this field. Without any exaggeration, we can freely claim that almost each and any supplier database comes with duplicates,...

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vendor file cleanse

Benefits of Vendor File Cleansing  Vendor File Cleansing is fast becoming a necessary on-going process rather than a nice-to-have once in a while project. The bigger your company gets, the greater are the chances that your vendor master file will become filled with missing, outdated, inconsistent information, duplicate files, and other problematic vendor related information under the same corporate umbrella. One particular term has gained immense popularity...

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recovery auditing history

Recovery Auditing, understand the past to help you prepare for the future. Recovery Auditing was born in the retail industry some 40 years ago; thanks to its complex structure heavily burden with the high volume of countless transactions. Retail was a “fruitful ground” for all kinds of transaction errors. Very soon, the recovery auditing firms realized that there’s a high potential for dollar recovery associated with...

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accurate vendor file

Inaccurate Vendor data is part of an extensive list of corporate initiatives can be rendered unmanageable or even impossible to execute. From procure-to-pay, supplier diversity and tax compliance to strategic sourcing and social responsibility, vendor data touches multiple processes and can have a dramatic impact on priorities throughout an organization. Over the past few year, my team and I  have written numerous articles and White Papers that...

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