How To: Clean Your Vendor Master File and Keep It …...May 7-9, 2017 Disney’s Yacht & Beach...

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

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.

Questions

Vendor Master Data

Sanitize

• Duplication

– Relational Data

– Standardization

– Mitigating Controls

• Inactive

– Process

Stabilize

• Workflow

– AP

– Tax

– Legal

– Procurement

• Mitigation

– Quality

Optimize

• Vendor Initiation

– Forms

– Workflow

– Vendor Portal

• Types

– Preferred Vendors

• Terms

– Spend Management

Compliance

• IRS

– W-9

• TIN Check

– W8-BEN

• Office of Foreign Assets Control (OFAC)

• World Check

Risk

• Insurance Certificates

• Financials

• Pending Litigation

• Background Checks

• Drug Testing

• Security Clearance

• Product Quality Certification

Questions