Taking the Measure of Risk in Vendor Onboarding
Vendor Onboarding Fraud Risk Survey
What is the biggest weakness in your vendor registration and onboarding process? Lack of visibility? Lack of internal controls? Manual processes? Lack of sufficient personnel?
Threats to Vendor Payments Are Non-stop in 2022
IT security teams are working overtime to protect enterprise systems against relentless attackers. Accounts payable teams must be always vigilant. Security and compliance loom large for procure-to-pay and a fraudster’s entry point might be through a legitimate vendor.
Financial Operations Networks is conducting a new benchmark survey on Fraud Risk in Vendor onboarding. Please take two minutes to answer a few questions:
Vendor Onboarding Fraud Risk Survey
Participants will receive the survey results when complete; results will also be posted here.
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Explore answers to common queries and get the information you need from the experts at Financial Operations Networks.
Financial Operations Networks (FON) is a financial operations company whose products help accounts payable teams prevent payment fraud: VendorInfo, a vendor portal; InvoiceInfo, a supplier portal; DisbursementControls.com, a membership resource for disbursement controls; and VIMCOE, which provides accounts payable certification. FON is a Nacha Preferred Partner.
FON strengthens front-line control points across vendor onboarding, supplier maintenance, and payments — verifying vendor information, validating bank account ownership, running compliance checks, and reducing exposure to business email compromise (BEC) before payments are made.
VendorInfo is a vendor portal for onboarding: it verifies tax IDs, screens OFAC and validates bank account ownership before a vendor is paid. InvoiceInfo is a supplier portal for after the invoice: suppliers look up invoice status, payment dates and remittance advice themselves instead of emailing AP. Both sit on top of the same ERP and are often used together.
Yes. FON offers specialized programs including the AP Payment Fraud Prevention Certification and the Accredited Vendor Information Professional (AVIP) Certification to help finance professionals strengthen expertise and advance their careers.
Request a demo and our team will walk you through how FON can strengthen your controls, reduce fraud exposure, and improve AP efficiency based on your organization’s goals.
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