Transaction risk intelligence
Automated supplier statement reconciliation
Supplier risk intelligence
Managed AP recovery audit
Supplier file performance review
Forensic risk analysis
Consulting and bespoke reporting
The complex world of master supplier files
Procure to Pay teams are seeing increasing pressure as they struggle to do more with fewer resources. One of those pressures is a burgeoning master supplier file.
With geopolitical conflicts, tariffs, and inflationary pressures (UK inflation is at 4.1% as of August 2025, compared with just 1.7% back in August 2019) comes increased costs of goods and shipping, disruption of trade routes and decreased availability. With the environment also being an increasing concern, ESG is more important than ever. Procurement choices need to be carefully thought through, the full supply chain mapped with precision. You budget with caution, knowing that the cost-of-living crisis means goods are expensive and energy prices are high despite efforts to cap them. Not just that, but as suppliers are sanctioned, or supply chains collapse, it’s more important than ever to be prepared.
Finance teams have made themselves more agile, capable of adjusting to changes quickly when they arise. These unstable business conditions and difficulties have prompted many to diversify their supplier base, adding options so they don’t put all their proverbial eggs in one basket.
So, supplier files in turn get larger and more unwieldy as we give ourselves those choices. But there’s danger here. It makes continuous data cleansing and monitoring essential to prevent fraud, overpayments, and compliance issues.
A rise in supply chain risk
The issue with large supplier files is that the more vendors are included over time, the riskier they become. The file can easily become filled with missing, outdated, inconsistent or duplicate data.
Fraudsters can take advantage of the large size to hide duplicate or fake suppliers, to change details. Attributing the right details to the right supplier when there is a change can become confusing, as can attributing a PO to the correct supplier.
With these issues, errors slip through. Suppliers get paid incorrectly, or fake suppliers are paid, causing a duplicate when the real supplier steps forward. Duplicate payments and overpayments incur costs for recovery and in doing so use up valuable staff time. Your organisation may also become non-complaint with regulations, and your team may miss discounts and volume rebates.
So, cleansing your master supplier file data has never been more essential. Not just to stop these errors from happening and save your organisation money, but to improve team productivity, reduce the need for recovery and increase efficiency.
How you can keep on top of supplier file cleansing and reduce finance risks
We believe that to keep up with the continuous changes in the supplier base, it is also necessary to cleanse and monitor them continuously.
We know there aren’t enough hours in the day to complete this task manually, and nor is it cost-effective to employ someone to work full-time on this. So, it is essential to use the latest technologies to assist you with this and ensure data accuracy.
The key word here is visibility. Visibility of all your supplier risks. With visibility, comes agility. If you have real-time indication of risks to your supply chain, or issues in your supplier file, you can more easily fix them without disruptions or threats to supply, and without the ‘dirty’ data affecting your payables accuracy.
In this way, you can replace manual checks, drive productivity, and protect working capital.
FISCAL’s answer to your supplier file problems
Our risk management software uses forensic level tests, assisted by AI, to find discrepancies, errors and inconsistencies in your supplier file and your transactions. We continuously look for everything from fraud indicators to duplicate invoices, to similar suppliers and surface the risks to you. We do that manual work so your team can add the human touch and make sure everything is accurate.
We also provide real-time monitoring for supplier credit scores, inclusion on sanction lists and adverse media list inclusion, so you can be safe in the knowledge that if there is an indication your supplier may have a supply issue, or may cause you compliance issues, you can take action to protect your organisation.
The benefits of cleansing your MSF and monitoring suppliers
- Reduce duplicate payments – One of the largest benefits is a reduction in duplicate payments, therefore contributing to driving down the amount of working capital leakage in this area.
- Reduce potential for fraud – regular checks on your supplier file leave very little wiggle room for scams to happen. Couple this with thorough interrogation of invoices for fraud indicators, a vigilant onboarding process and an easy-to-follow audit trail for tight controls and transparency.
- Improve productivity and reduce costs – Staff can find vendors in your file more easily, and won’t waste their time using information that should have been removed or updated. If automated, the process will also save time when checking and cleansing the file. This saved time reduces your costs and enables the team to focus on adding value elsewhere.
- Increase accuracy and compliance – This accuracy in your suppliers keeps up compliance with regulations and means your staff can effectively analyse spend and vendor management. This puts you in a far better position to negotiate supplier contracts for better payment terms and discounts.
