How To: Clean Your Vendor Master File and Keep It …...May 7-9, 2017 Disney’s Yacht & Beach Club...
Transcript of How To: Clean Your Vendor Master File and Keep It …...May 7-9, 2017 Disney’s Yacht & Beach Club...
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May 7-9, 2017
Disney’s Yacht & Beach Club Resorts®, Florida
How To: Clean Your Vendor Master File
and Keep It Clean
Steve Iannarone
Sr. Manager Global Shared Services
Arthur J Gallagher & Co
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Overview
In this session we will discuss the cornerstone of Accounts Payable, vendor master data. Vendor master data has multiple facets and the keys to its quality impact these four areas: • Business Analysis • Payment Terms • Regulatory • Controls We will address your pain points and ways to improve the creation, change and archiving of this data. Including, the automation options for Accounts Payable to manage Vendor Master Data.
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Questions
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Vendor Master Data
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Sanitize
• Duplication
– Relational Data
– Standardization
– Mitigating Controls
• Inactive
– Process
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Stabilize
• Workflow
– AP
– Tax
– Legal
– Procurement
• Mitigation
– Quality
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Optimize
• Vendor Initiation
– Forms
– Workflow
– Vendor Portal
• Types
– Preferred Vendors
• Terms
– Spend Management
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Compliance
• IRS
– W-9
• TIN Check
– W8-BEN
• Office of Foreign Assets Control (OFAC)
• World Check
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Risk
• Insurance Certificates
• Financials
• Pending Litigation
• Background Checks
• Drug Testing
• Security Clearance
• Product Quality Certification
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Questions
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