Stay Tuned. It’s common practice for Accounts Payable (AP) Vendor Maintenance to call the vendor when there is a change requested to the vendor’s bank account.  There is no shortage of fraud being reported, for AP teams not to know that additional validation protects companies from making fraudulent payments.  The question is: Are AP teams driving up the volume of required vendor confirmations by not adding additional authentication processes because the vendor will be called to confirm the change anyway?

Check out my website www.debrarrichardson.com if you need help cleaning your vendor master file or implementing authentication techniques, internal controls, and best practices to prevent fraudulent payments. 

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Links mentioned in the podcast:   

• Vendor Validation Reference List with Resources Links: www.debrarrichardson.com/vendor-validation-download
• Essentials Training Series: IRS W-9, W-8, TINCheck.com, and 3 Step Vendor Setup & Maintenance Workshop
• Vendor Process Training Pass for weekly vendor process training, weekly Q&A sessions, and digital content
• Vendor Master File Clean-Up:  https://www.debrarrichardson.com/cleanup
• Free Vendor Process Risk Assessment > Schedule here:  https://calendly.com/debrarrichardson/vendor-process-risk-assessment
• YouTube Channel:  https://www.youtube.com/channel/UCqeoffeQu3pSXMV8fUIGNiw 
• Prevent Fraudulent Payments.  Get Your Own Copy of the3 Step Vendor Setup and Maintenance Process eGuide.
• More Podcasts/Blogs/Webinars www.debrarrichardson.com
• More ideas?  Email me at [email protected] 
• Music Credit:  www.purple-planet.com