Clean Vendor Data For Streamlined Supplier Management

Q: What type of data does Trustpair enrich?

Trustpair enriches both company and bank account data.Company data:The company identifier or registration number.The company’s official business name.The complete registered office address.Additional information such as activity, legal form, workforce count, and creation date. Bank Account data:The bank account number.The BIC code (Bank Identifier Code) which precisely identifies the banking institution.The official name of the banking institution.The complete address of the branch where the account is held.Whether or not the bank account is on our blacklist of fraudulent accounts: an alert indicator appears if this account has been previously involved in a fraud attempt.

Master Data Manager, stop working with outdated and poor quality supplier data! Verify, clean, and enrich your vendor master data. Gain efficiency and launch new projects serenely with Trustpair.

Why Is It Critical To Clean Your Vendor Master Data?

of errors on average in vendor master data files

10 %

teams in average are involved in vendor data management

of businesses only check vendor data throughout the P2P

40 %

Why Is Vendor Data Unreliable?

With no single source of truth or automated validation, vendor data quickly becomes unreliable – impacting every stage of the P2P process. Here are some of the factors of vendor data unreliability:

Lack of controls: Vendor data is registered during onboarding but usually not reviewed during the P2P, causing outdated information to linger in systems.
Disconnected tools and teams: Procurement, Finance, and AP may update records independently, leading to inconsistencies across platforms.
Natural data decay: Companies evolve - mergers, closures, and bank account changes happen often and are hard to track manually.
Manual processes: Without automation, updates and validations are time-consuming and prone to human error.
No real-time visibility: Changes in supplier data can go unnoticed without continuous monitoring and alerting mechanisms.

Vendor Data Management, At The Heart Of P2P Efficiency

Reliable vendor data is the foundation of a safe and efficient Procure-to-Pay process and business. When vendor information is centralized, verified, and continuously updated, procurement teams can improve efficiency, reduce errors, and operate with full confidence.

Ensure vendor identity integrity with verified core information and bank account ownership validation.
Strengthen decision-making by eliminating data silos and gaining a single source of truth across systems.
Leverage automation safely by procurement or Al tools with clean, enriched, and quality data. Launch new projects with peace of mind.
Stay resilient in times of disruption with real-time monitoring and instant alerts on vendor data changes.

Trustpair, The Ultimate Data Cleansing Service

With Trustpair, Vendor Data Management becomes a strategic asset – boosting efficiency, security and collaboration across the entire P2P chain. Our solution ensures your vendor data is always accurate, complete, and secure.

Clean your vendor database by detecting duplicates, obsolete records, and inconsistencies in supplier information.
Enrich vendor data with trusted third-party sources and smart-data enhancements for complete supplier profiles. This includes company and bank detail data.
Verify bank account ownership automatically to ensure payment details are valid and belong to legitimate suppliers.
Maintain data integrity over time with continuous monitoring and realtime alerts on any vendor data changes.

Why Use Trustpair To Streamline Your Vendor Master Data?

Optimize Your Procure-To-Pay

Manual vendor data controls are time-consuming and fallible. Boost your team’s efficiency and break down silos thanks to automation.

Centralize Procurement Processes

P2P processes are vulnerable to fraud and errors from start to finish. Implement best-in-breed software integrated directly in your Procurement tool.

Protect Vendor Relationships

Supplier relationships are key to sustainable growth. Build trusted relationships with your vendors by safeguarding your payment chain.

Your Fortress Against Vendor Fraud

Experience Seamless Security in Action. Request Your Demo Today !

FAQ

Frequently Asked Questions

Browse through our different sections and find the answer to your question.

How to maintain vendor master data?

Maintaining vendor master data requires continuous efforts to ensure accuracy, completeness, and security across the entire supplier lifecycle. This includes regular reviews, updates, and validations to avoid errors, inefficiencies, and fraud risks. The most effective approach combines process discipline with automation:

Standardize data entry across teams and systems to ensure consistency.
Automate validations like bank account ownership checks to prevent vendor fraud and payment errors thanks to fraud prevention solutions like Trustpair. Our services also include extensive customer support and comprehensive dashboards to help companies and financial teams have a 360° view of their fraud risks.
Continuously monitor and clean your database, removing duplicates and outdated records.
Enrich supplier profiles with reliable third-party data for full visibility.
Use a centralized platform like Trustpair to synchronize updates, provide constant data cleaning, track changes, and alert teams in real time.

A clean, verified vendor master boosts operational efficiency, supports compliance, and strengthens your P2P security from onboarding to payments.

What are master data management strategies?

Master Data Management (MDM) strategies are frameworks designed to ensure your vendor data is accurate, consistent, and secure across systems and teams. Effective MDM is critical to streamline procurement operations, reduce fraud risk, and support digital transformation. Key strategies include:

Centralizing vendor data in a single, trusted source to eliminate silos and inconsistencies.
Automating verification processes, such as account validation and real-time alerts on data changes.
Implementing data governance policies to define ownership, workflows, and controls across departments.
Regularly cleansing and enriching your database to remove duplicates, correct errors, and update outdated records.
Leveraging secure integrations with Procurement and Finance tools to maintain data integrity across the Procure-to-Pay process.

With a solution like Trustpair, MDM becomes a continuous, automated process – ensuring full vendor data reliability and protecting your payment chain from end to end.

How does supplier MDM improve supplier relationships?

Supplier Master Data Management (MDM) plays a critical role in strengthening supplier relationships by ensuring transparency, trust, and efficiency throughout the procurement lifecycle and supply chain. When your vendor data is clean, verified, and up-to-date, collaboration becomes smoother and more secure. Here’s how MDM supports better supplier relationships:

Fewer errors and delays thanks to accurate banking and company information.
Faster onboarding and payment processes, creating a positive supplier experience.
Increased trust through proactive validation and fraud prevention measures.
Clear communication and streamlined operations based on consistent, centralized data.
Stronger compliance with contractual and regulatory obligations.

With a robust MDM strategy powered by a product like Trustpair, procurement teams and organizations can build reliable, long-term partnerships with suppliers – essential for resilience and growth – while increasing performance and efficiency.

What type of data does Trustpair enrich?

Trustpair enriches both company and bank account data.

Company data:

The company identifier or registration number.
The company’s official business name.
The complete registered office address.
Additional information such as activity, legal form, workforce count, and creation date.

Bank Account data:

The bank account number.
The BIC code (Bank Identifier Code) which precisely identifies the banking institution.
The official name of the banking institution.
The complete address of the branch where the account is held.
Whether or not the bank account is on our blacklist of fraudulent accounts: an alert indicator appears if this account has been previously involved in a fraud attempt.