Good data is a must for businesses. Good vendor data is among the most vital types of data to maintain, as failure to do so opens you up to payment problems, fractured business relationships, and fraud risk.
How can you ensure your vendor data is clean and up-to-date? It's a multi-faceted challenge, but a few common sense changes to your approach and a willingness to embrace help can make a huge difference. In this piece, we'll cover five methods to make your vendor data management for B2B payments more efficient and more secure.
You'll learn how to:
- Properly authenticate your vendors before making business payments
- Maintain and update critical contact and financial data safely
- Find a partner who can help you with vendor data management
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