SUPPLIER RISK AND MAINTENANCE PROFILING
"Savvy AP departments closely manage their supplier files to weed out duplicate suppliers, inactive suppliers, incorrect addresses, and other common problems that can lead to fraud, duplicate payments and other payment errors.” – Institute of Financial Management
The importance of supplier maintenance remains a critical component of an organisation’s risk management programme. Errors within the master supplier file continue to proliferate. Current finance processes and staffing levels cannot protect against all of them and typically ERP or accounting packages will only carry out simple checks which need to be reinforced.
AP Forensics® intelligently analyses your master supplier file, allowing you to efficiently scrub your data looking for a wide range of issues or errors. It scrutinises the master supplier file across various levels of risk ensuring only real issues are highlighted.
The benefits of AP Forensics:
- Saves procure-to-pay (P2P) time by identifying incorrect suppliers
- Cuts duplicate payments by detecting incorrect or fraudulent suppliers
- Supports compliance ensuring only the correct data is used
- Increases efficiency by safeguarding master data integrity
- Identifies supplier risk by helping spot data entry anomalies
- Reduces fraud by cross-checking supplier and employee data