Vendor Validation
Optimize Vendor Onboarding and Accounts Payable Compliance
Ensure Compliance & Stay Sane
Vet your vendors without lifting a finger.
Mekorma Validation tools automatically verify Tax Identification Numbers (TIN) numbers and check the Office of Foreign Assets Control (OFAC) sanctions list so you don’t have to.
Additionally, this feature will check the vendor’s address against Google's world-wide address address database to assure it is a known address.
The results are accessible right in your ERP so your team can take necessary action and avoid late payments, penalties, and fines.
OFAC Vendor Validation
Don't pay the wrong people!
US organizations are not allowed to do business with any entity on the Office of Foreign Assets Control (OFAC) global sanctions list.
The list is updated on a regular basis, so it’s not enough to only check during the vendor onboarding process. But for most Accounts Payable teams, it’s impossible to stay on top of every update!
Vendor TIN Matching
Be tax compliant!
In a perfect world, every vendor would supply your Accounts Payable team with the correct Tax Identification Number (TIN). That doesn’t always happen.
If a discrepancy between your records and the IRS database goes uncorrected, your company could be fined for each mismatch.
Google Address Verification
Ensure your payments aren't delayed!
Bad Remit to addresses can cause checks lost in post, payment delays, relationship decay, reprocessing and eventually escheatment.
The address is important to be correct; It is part of an entity's identification for payments sent with Remote Payment Services
Benefits of Automated Vendor Validation
Worry-free vendor onboarding
Save time
Avoid penalty fees
Be audit-ready
Verifications you can trust
Full ERP integration
Explore Vendor Validation in your ERP