Vendor / Supplier Master Analysis
This service promotes best practice Vendor Master Management by analysing your Vendor Master File to identify duplicated, incorrect and obsolete vendors which can drive errors, subsequent financial leakage, and increase administration costs within the Accounts Payable function. The solution allows Profectus to link and analyse transaction data relating to each vendor and your vendor master business rules, and recommends which to block in the Vendor Master file based on your vendor retention policies.
Benefits of the analysis include:
- reduced risk of cross-vendor duplicate payments
- reduced fraud risk from fewer active vendors
- enhanced supplier and category management
- comparisons of operational performance against best practice methodologies
- provides increased efficiency in transaction processing
- identifies process shortcomings, and provides recommendations to help prevent overpayments, and improve process performance.