What is vendor master analysis?
Clean-up and maintenance of vendor master data is a never-ending challenge which often doesn’t make the top of the priority list until a business event, such as an ERP upgrade or acquisition, occurs. Gaining transparency into vendor creation data quality, unused, and duplicate vendors across multiple ERP systems is vital to understanding the risks produced.
Upfront prevention of duplicate payments is measurably easier than trying to collect overpayments once they have been released. The first deterrent to erroneous payments is the use of sound vendor master data governance and analysis of master data trends to implement corrective actions.
Ways vendor master analysis can help your business
Vendor master reporting identifies potential duplicate records and provides a workflow to address them.
Identify numerous potential vendor master problems resulting from entry errors or a lack of adherence to established procedures.
Flexible and Easy to Use
User friendly interface with minimal training required to use. Highly configurable to ensure it works with your environment.
Visualise the volume of vendors added, identified as potential duplicates, aging, and more.
Vendor master analysis provides a consolidated vendor master data view across multiple ERPs.
Visibility into vendor master data across multiple ERPs including status, trending, aging, and potential duplicate vendors.
Insights into the volume of aged, unused vendors and duplicate records increase the risk of potential missed payments.
Vendor Master Integration
A single view of duplicates and inactive vendors when integrating multiple master files during organisational changes or acquisitions.
Build a line of defense by identifying trends of methods used by fictitious vendors to get past upfront controls and assessing ‘open doors’ such as aged, unused vendors.
Vendor master analysis delivers detailed vendor master file reports along with dashboards to facilitate efficient data cleansing and maintenance.
Leading AP teams choose Glantus technology
Request a live demo
Demonstration of Glantus’ solutions in action with a product expert. A typical introduction demo includes:
Assessment of your unique needs and requests.
Case examples from your industry or similar use cases.
Demonstration of Glantus’ relevant software and solutions.
Frequently Asked Questions
Yes, and we will guide you through the data acquisition process.
We have pre-written scripts for most major ERPs, which we provide to your IT team, along with all instructions. Data is uploaded via secure file transfer protocol (SFTP).
We are ISO27001 / ISO27701 / ISO9001 certified and audited annually.
Glantus utilises the Microsoft Azure cloud environment as well as TierPoint Data centers to fulfill the needs of the business. In the EU, hosting is facilitated within the North Europe Region on the Azure cloud platform. In the US, hosting is facilitated by TierPoint within the Marlborough/Boston region.
There are two options. Either from your card provider, which is level three type data (Visa VCF/Mastercard MDF). Or from your internal card program manager, who can generally download a data file online, which is level one type data.
We prefer for data extraction to be fully automated. This can be done daily, weekly or monthly, with daily being the most preferred option.
We will provide a small subset of potential duplicates you can investigate and recover. You’ll have two weeks to enjoy your complimentary subscription to DataShark for your team to review and recover the potential duplicates provided and access all other reports and metrics.
You will be assigned a Director of Client Success who will provide all user training at go-live. There will be regular follow-up training sessions provided for all new users.
Your ERP system will typically have a hard stop built in, but it only works if both transactions are exactly the same, everything has to match for the system to recognise it as a duplicated entry, and in some cases, it allows a user to override that stop to enter the transaction.
DataShark goes above and beyond that by identifying errors occurring from data entry errors, duplicated or multiple related vendors, wrong vendor payments, different currencies, transposed dates or invoice numbers, appended invoice numbers, and many, many more error types.
Most companies use some type of process to catch duplicate payments, whether by importing transactions in excel and applying some filters to try and weed out the duplicates or by using other tools where they create their own queries and algorithms to flag these transactions.
The problem is that these only get to a fraction of your overpayment errors due to the limited algorithms being applied to the data set. This also creates a lot of "false positive" transactions being flagged.
DataShark’s 800+ algorithms identify a lot more potential errors while minimising the majority of the false positive duplicates, usually achieving over 50% true duplicate identification.