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.
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.
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.
Comments
0 comments
Please sign in to leave a comment.