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Accurate vendor information is the foundation for ERP implementation, data migration, spend analysis, optimal pay terms, vendor file maintenance and prevention of duplicate payments: prioritize a vendor master cleanse.
In today’s dynamic business environment, organizations frequently change names, relocate, acquire and merge. Over time, this can lead to unreliable vendor master file data, misapplication of credits and duplicate payments.
Illumis can help.
IQ does all the heavy lifting by utilizing fuzzy and phonetic logic to uncover near matches such as Bill vs. William. We then identify relationships that exist between seemingly unrelated vendor master files so you can clean, validate and standardize your vendor master during our vendor master cleanse.
We also provide a report that scores each vendor group. The vendor master cleanse delivers visibility into most favorable terms, preferred payment methods, consolidated spend and more. This allows you to direct your internal resources where the greatest corporate impact can be realized.
A client was seeking to incorporate a recent acquisition, outsource AP to a new partner and consolidate multiple payment sources, business disciplines, divisions and locations to a new ERP platform. A critical business priority was daily visibility into payment activities of the new outsource partner.
After a three-year relationship and millions in recovered funds, this company had an established baseline of trust for Illumis’ abilities. Illumis was enlisted to deliver tools to ensure the data populated in the new system was not contaminated or redundant with a vendor master cleanse. Control points, visibility and management reports for the initial consolidation and ongoing implementation were also delivered.
IBIS™ gave management instant access and greater overall visibility across multiple business units, disciplines and divisions which enhanced control of the vendor master file, its content and data capture while improving vendor discounts, cash management and payment activity.
Working for Illumis for 21 years, Brush has been instrumental in the growth of the company. Brush served as Vice President at Illumis before stepping into the role of President / CEO and has been involved in all aspects of the company’s business throughout his career.
Brush’s approach to his role centers on the motto of Illumis, Bright Ideas for Better Profits. Known for his loyalty, team building, and tough but fair expectations, he empowers employees to deliver, therefore fostering a company culture that ensures customers can count on people.