Entrust the monitoring of your Vendor Master File to an expert
In order to build a structured and qualified third party database, the first step is to carry out a project to standardize the repository. This step involves systematically indicating the unique identification key of the companies in the database: SIRET, VAT, DUNS Number or foreign equivalent.
Thanks to its monitoring technology, Trustpair supports you in this project in order to better manage and control your third-party data.
If the company already has a unique and centralized repository, then Trustpair assists the financial team in cleaning up its VMF in order to correct all errors and anomalies related to third-party data.
Work with an error-free database
The methodology of cleaning your third party database is done in two steps: the first step consists of conducting an initial audit of your entire third party database in order to return all errors and anomalies.
Trustpair teams guide you in understanding the errors and anomalies and assists you in the corrections to be made and the cleaning of the third-party database.
The second step consists of continuously auditing your third-party database in order to alert you as soon as an error or anomaly is detected.
- Your company’s Vendor Master File is always up to date and you are protected from the risk of fraud.
Automate the auditing of your third-party database and control your data.
Trustpair clients speak out
The automated audit of our repository saves us a considerable amount of time in verifying the accuracy of the information. Trustpair allows us to record the supplier’s history since its creation in our ERPs. This allows us to quickly identify inactive accounts and clean our third party databases.
During the VMF phase, we were extremely lucky to be accompanied by Claire, Customer Success Manager at Trustpair. We spent some time together analysing the audit results in order to fully understand the types of errors. This support enabled us to make decisions: to adjust the internal audit process to avoid future errors and to correct existing supplier data.
With Trustpair’s VMF audit, I realised that there were suppliers that we hadn’t used for several years. Now that we have all the company registration numbers in our database, we are sure that there are no duplicated data. We have a clearer view of our VMF.