Business Strategy

Supplier Management

Business Strategy provides unique Supplier Management Services which include: Supplier Scrub and Analytics, IRS TIN Validation, OFAC Compliance Screening, and Supplier Information Services

Supplier Scrub and Analytics

To keep your supplier master in control, Business Strategy offers a comprehensive supplier scrub and analytics reporting solution. This solution includes the list of reporting included below that can be generated according to your requirements.

Supplier Scrub Reporting

• Duplicate Supplier Names
• Suppliers with Duplicate Street Addresses
• Suppliers with Duplicate PO Boxes
• Suppliers with Duplicate Phone or FAX Numbers
• Suppliers with Duplicate TINs

Supplier Analytics

• Top 30 Suppliers with Invoice Amounts of $0 - $150
• Top 30 Suppliers with Invoice Amounts of $0 - $50
• Top 30 Suppliers with Invoice Amounts of $50 - $100
• Top 30 Suppliers with Invoice Amounts of $100 - $150
• Invoice Payment Dollar Distribution
• Accounts Payable Year to Year Analysis
• Accounts Payable Transactions by Month
• Top 50 Suppliers by Transaction
• Top 50 Suppliers by Dollars

IRS TIN Validation

Business Strategy will validate Tax Identification Numbers (TIN), this service is included in your supplier master using the electronic tax services provided by the IRS. Business Strategy will also validate Social Security Numbers and Employee Identification Numbers. Error reporting is provided within 2 days from the completion of data conversion and upload. The error report will indicate the results of the IRS review and will highlight actions that need to be taken.

Benefits

• Ensures 1099 accuracy.
• No more B-Notices!
• The TIN Matching Service is a good Supplier fraud prevention tool since validation ensures that the Supplier is “legitimate.”
• TIN Matching is an excellent Supplier master control.
• TIN Matching “false positives” will help initiate Supplier coding standards when setting up your Suppliers.
• The TIN Matching process can identify duplicate Suppliers and can be a catalyst for cleaning up your Supplier master file.

OFAC Compliance Screening

Business Strategy is the only Procure to Pay Recovery Firm that provides this level of supplier master validation services. Business Strategy completes the due diligence that will reduce the number of false positives reported. The due diligence process includes researching Better Business Bureau, State of Incorporation data, and other research based on specific supplier information.

Business Strategy provides vendor master compliance screening against the OFAC, EPLS, and BIS files.

• OFAC – Office of Foreign Asset Control
• BIS - Bureau of Industry and Security
• EPLS – Excluded Parties List System
• SDNs - Specially Designated Nationals are considered enemies of the United States. They can be either organizations or individuals who are involved in drug trafficking, terrorism, or other illegal activities.

Supplier Information

Based on your requirements, Business Strategy will obtain the supplier information you need for information, compliance, and validation. We work directly with your suppliers to obtain the components listed below.
• W8s and W9s
• Supplier Statements
• State of Incorporation Information
• Primary Remittance Address
• Insurance Certificates
• Validation of ACH Information