Every supplier onboarded through a defined process, their records in one place, and every change to key details like bank accounts approved before anyone is paid. Procurement and payments work from the same record.
A convincing email asks you to update a supplier's bank details, and the next payment goes somewhere else. Most supplier payment fraud doesn't beat your controls. It happens where the controls weren't in the process at all.
A structured process following your policy and approvals before any transaction.
Supplier data and documents central, current and searchable.
Changes to key fields such as bank details approved and checked in real time.
Only pre-approved suppliers used in purchase requests.
A defined route for new suppliers before they can be used.
Contacts, documents, terms and history in one place.
Changes to payment details approved and checked before they take effect.
Purchase requests limited to suppliers you've approved.
Agreements, pricing and renewal dates alongside the supplier record.
Spend, invoices and issues by supplier to inform renewals.
Average review
Changes to key supplier details, including bank accounts, must be approved and are checked in real time before any payment goes to the new details.
Yes.
******[verify: is there a supplier self-service portal?]
Centrally, alongside the supplier record, contracts and invoice history.
Yes. (****CONFIRM!)
Make the approved option the easy option.
Statements checked against the invoices you hold, line by line.
Pay for what you ordered and what arrived, nothing more.
