Common Worst Master Vendor File Practices

2023-09-19

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The master vendor file can be your best friend or your worst enemy when it comes to running an efficient, cost-effective, fraud-resistant accounts payable and payment process. Today, we're diving headfirst into treacherous waters, along with too many others, the folks that use common Master Vendor File worst practices. This is where the tiniest of errors or oversights can lead to financial disaster, where mistake can facilitate fraud, and where inefficiency silently bleed resources that erodes profitability. We’re going to look at five very common practices that don’t protect an organization but rather open the door to mistakes, duplicate payments and worse. Make sure you stick around until the end when we discuss one practice that many don’t even realize hurts – and it does so in a big way. #mastervendorfile #accountspayable #accountspayableprocess

Link to Fraud in the Vendor File: How to Prevent It
https://www.youtube.com/watch?v=6r9I5d-li-U&list=PLtL6rWSXZ-HeZHaYupptiu7ZBqniRaj2J&index=4

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