smartvm® Vendor Master Cleansing, Enriching and Monitoring
Create the best possible vendor data
Maintaining a clean vendor master can be a real challenge – especially for global organizations with thousands of vendors. But the business imperative is clear. 30% of duplicate payments stem from duplicate vendor records.
smartvm helps you minimize your risks by cleaning your vendor master file from top to bottom and keeping it in pristine condition. Our technology does the heavy lifting.
smartvm automatically compares each field in your vendor master database to more than 2 billion records from hundreds of public and private sources, including 50M+ records compiled by apexanalytix during direct interaction with suppliers for Global 2000 companies.
Our on-demand, technology-driven vendor master maintenance solution is the most efficient way to review, scrub, append and continuously improve your vendor records.
The Benefits of smartvm for Vendor Master Maintenance
- Remove duplicate records that can trigger overpayments
- Mitigate noncompliance and fraud risks
- Prepopulate data as new suppliers are brought on board to reduce the risk of keying errors
- Validate the accuracy of each record at the data-field level
- Ensure regulatory compliance
- Improve spend analytics for better-informed strategic sourcing decisions and contract negotiations
The apexanalytix Advantage
- Advanced analytics based on years of experience in vendor master maintenance and management
- Flexible options for a one-time clean-up or continuous protection
- 50M+ vendor records scrubbed, validated, enriched, classified and scored for accuracy
- Smart adapters for interoperability with your ERP platform of choice