Vendor Setup & Maintenance
Streamline the Vendor Onboarding Process
Efficient and Secure Vendor Onboarding
In today’s complex vendor management landscape, efficient and secure vendor onboarding is critical. DataServ Vendor Setup and Maintenance is a simple, accelerated approach to requesting new vendors. It keeps your costs low, makes the process (and the change) easy for your employees, and reduces the risk of payment fraud and compliance issues with a self-service portal that automatically collects, validates and manages supplier details.
DataServ’s Vendor Setup and Maintenance capability simplifies the process with an intuitive interface that automates manual research, vendor verification and information changes, and compliance checks, eliminating paperwork and reducing costs. There are no pricey software licenses or servers to buy, and your organization will never pay for vendor onboarding features that you don’t use.
Onboarding new vendors through DataServ is easy; All W-9s, W-8s, and registration documents are completed and stored online for quick access. Automated workflow based upon your defined rules ensures control, guarantees consistent vendor master data, and requires minimal IT involvement while avoiding business disruptions. Key features include TIN checks, OFAC screening, and bank account verification, all within minutes. Your editable tailored request form is routed using email for approvals. The in-process requests are available for retrieval and audits at any time. Once data has been approved, it is pushed back into your ERP system, preventing additional manual intervention required by most APIA providers.
A better process for vendor onboarding
There’s a better way to onboard and maintain vendors in your AP solution. Stop struggling with:
- Limited visibility into vendor processes
- Incomplete, inaccurate, or outdated vendor details
- Delays caused by unresponsive banks
- Disruptions caused by buyer turnover
- Increased exposure to fraud risks
DataServ’s solution provides increased visibility into the entire vendor onboarding process while mitigating compliance issues:
- Streamlined Onboarding: Employees or potential suppliers can submit new vendor requests, which are automatically validated for information such as bank account changes and compliance with federal lists such as OFAC/SDN. This process eliminates the need for emailing, calling, chasing approvals, or manually entering data.
- Consistency and Compliance: Naming compliance with your ERP is ensured by enforcing your vendor naming conventions. The Finance team has greater control over cost centers and accounts, supported by detailed metrics and reporting to help staff stay on top of vendor onboarding.
- Vendor Convenience: Vendors enjoy submitting onboarding documents and information electronically and tracking the onboarding process in real-time.
- W-9 and W-8 Processing: Forms are handled online, with TIN matching to name, address and tax identification number in the IRS database, and optional retention in a searchable database.
Why DataServ Vendor Setup and Maintenance Automation?
Our simple interface, tailored workflow, and training support increase user acceptance. DataServ’s SaaS solutions minimize change resistance, and our Rapid Adoption Kit Vendor Setup and Maintenance helps speed implementation.
No additional ERP licenses or expensive training are needed. Our concurrent license model ensures costefficiency for occasional requestors.
DataServ integrates with various financial systems, eliminating dual data entry and feeding vendor information directly into your ERP. Once approved, onboarding data is automatically sent to your vendor master file, saving time and reducing errors. The non-exhaustive list of ERP systems that we frequently work with include:
• Oracle
• PeopleSoft
• SAP
• JDE
• Lawson
And many lesser-used systems
DataServ tailors fields to your business process, enforcing naming conventions and business rules to minimize errors and prevent duplicate vendors. The Vendor Setup and Maintenance capability restricts G/L accounts and cost centers by user role, reducing data entry mistakes while ensuring accuracy and helping to protect against penalties and fines.
DataServ provides a comprehensive workflow to process exceptions in the most efficient manner, allowing your staff to focus on process improvement, fraud detection, compliance, vendor negotiations and supply chain optimization rather than processing vendor requests.
Sensitive vendor information, such as W-9s and bank details, is securely collected through a portal, reducing the risk of fraud and security breaches from email-based processes.
Legacy procedures are replaced with self-service capabilities for compliance validation, workflow automation, and real-time approval processes.
Let’s Start a Conversation
Regardless of where you are at in your AP automation journey, DataServ will meet you there and help you evolve.