Even with the intense attention to supplier management internal controls due to the impact of the Sarbanes Oxley Act of 2002 and other regulatory compliance requirements, there are still situations in which contracts are established and invoices are paid to fictitious suppliers or suppliers on government watch lists. 
 
How can a contract be established with a new supplier without any due diligence or validation? How is it possible that “legitimate” suppliers have a private mailbox at the local UPS Store, a private residence, or even a prison address?  Or that invoices a few weeks apart with consecutive numbers both get paid? Or “invoices from a “supplier” whose address happens to match that of a company employee get paid? This webinar provides the best practices that will enhance your supplier management process, reduce buyer and supplier friction and the risk of fraud in the procure to pay (P2P) process.  
 
Learning Objectives: 

• Recognize a solid understanding of the supplier onboarding process within the procure to pay (P2P) process.


• Identify insight into the specific risks within the supplier master file process.


• Associate how to better manage risks with supplier management internal controls.


• Recognize about the challenges and best practices for the supplier onboarding process and where friction occurs.