Vendor Validation

Is your vendor validation process slowing you down? Graphite's innovative platform automates the tedious tasks of verifying vendor credentials, ensuring compliance, and maintaining up-to-date records – freeing your team to focus on strategic initiatives. Unlock the power of Network Protection to capitalize on known vendors across the Graphite Network.

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Rapid, AI-driven vendor data validation

Automated & AI-driven vendor data validation

Graphite validates supplier bank accounts, tax info, and other critical commercial data using cutting-edge AI to scan supplier documents. By automating validations with Graphite, teams can reclaim valuable time while maintaining data integrity and preventing fraud.

NEW! Leverage Graphite’s Network Protection

When buyers use Graphite, they get the power of the network at their fingertips. With the newest network enhancement, Graphite customers can validate bank accounts by seeing when suppliers have transacted with other buyers in the network, when the most recent payment was processed and how many other buyers use the supplier’s bank account. De-risk your transactions with Graphite’s innovative network approach.

Mitigate supplier risk

Every 90 days, Graphite checks all suppliers against OFAC and debarred sanctions lists to ensure compliance. Two unique profile administrators must also authorize changes to critical data, adding an extra layer of security to mitigate fraud and improve supplier risk management.

Verify third-party supplier data with ease

Ensure data accuracy

Graphite Connect’s vendor data validation system ensures that third-party supplier information is accurate and up-to-date. By automating the verification process, your team can avoid the errors and inconsistencies that come with manual data entry.

Streamline compliance

Maintaining compliance is mission-critical in many industries. Graphite Connect automatically validates vendor data against global sanctions lists and tax regulations, helping your business stay compliant without the hassle of manual checks.

Reduce risk and fraud

Mitigate the risk of fraud by implementing Graphite Connect’s vendor validation features. With two-party verification for critical data changes and regular rescreening of supplier information, you can ensure the integrity and security of your vendor relationships.

Why choose Graphite Connect for vendor validation?

Automated data validation

Graphite Connect automates the process of verifying supplier data, ensuring accuracy and reducing the time spent on manual checks. This provider data validation feature helps businesses maintain reliable and current vendor records with minimal effort.

Real-time compliance checks

Graphite Connect continuously monitors global sanctions lists and tax regulations and automatically updates supplier data to ensure compliance. This feature reduces the risk of non-compliance and keeps your business aligned with regulatory standards.

Two-party verification

Changes to critical supplier data require authorization from two profile administrators, adding an extra layer of security. This supplier validation process helps prevent fraud and ensures that all data updates are legitimate and trustworthy.

Save time with automated vendor validation

What is vendor validation?

Vendor validation is the process of verifying and authenticating the information provided by vendors or suppliers. This includes checking details like tax IDs, banking information, and compliance with relevant regulations to ensure the legitimacy and reliability of the vendors.

Why is vendor validation important?

Vendor validation is critical for maintaining data integrity and mitigating risks associated with fraudulent or non-compliant suppliers. It helps businesses avoid financial losses, ensure regulatory compliance, and build trustworthy relationships with their vendors.

How do I validate vendor data?

Validating vendor data involves checking the accuracy and authenticity of the information vendors provide. This can be done through manual checks or by using automated systems like Graphite Connect, which streamline the process and ensure ongoing compliance with up-to-date data.

What is a vendor file?

A vendor file is a record containing all the critical information about a vendor or supplier. This includes contact details, tax information, banking details, and any compliance-related documentation. Maintaining an accurate vendor file is essential for efficient vendor management and validation.

How can Graphite Connect expedite vendor validation?

Graphite Connect automates the vendor validation process by verifying supplier data in real time, ensuring compliance with global regulations, and reducing the time spent on manual checks. Features like automated data validation, real-time compliance checks, and two-party verification streamline the supplier validation process, making it faster and more efficient.

Streamline your vendor data validation today

Ready to simplify and secure your supplier validation process? Discover how Graphite Connect can help you save time, reduce risk, and maintain data integrity.