Simplify Vendor Management. Eliminate Risk. Power Growth.
Managing vendors can feel like juggling a hundred moving parts. PaymentWorks takes the complexity out of vendor management with a platform that automates the entire vendor lifecycle, reducing risk and saving time for every department so you can focus on growth.
What Our Clients Say
Jessica Dioquino
Accounting Manager
City of North Las Vegas
PaymentWorks ensures that payments made to vendors are secure and virtually risk-free. The added control of vetting vendor information is something we did not previously do and has enhanced our overall system of internal control.
See what Jessica is Talking About
Quickly and Easily Verify Vendors
Tired of chasing down paperwork and manually verifying vendor information?
Automated vendor management ensures that every new vendor in your system is properly vetted and verified in real time.
Reduce manual entry errors
Automation checks vendor data against multiple sources instantly, ensuring accuracy and consistency.
Reduce manual entry errors
Automation checks vendor data against multiple sources instantly, ensuring accuracy and consistency.
Save time
No more combing through endless documentation—automated checks verify vendors within seconds.
Save time
No more combing through endless documentation—automated checks verify vendors within seconds.
Stay compliant
Our system automatically checks against regulatory requirements and blacklists, helping you avoid risky vendors.
Stay compliant
Our system automatically checks against regulatory requirements and blacklists, helping you avoid risky vendors.
Build trust
Automation checks vendor data against multiple sources instantly, ensuring accuracy and consistency.
Build trust
Automation checks vendor data against multiple sources instantly, ensuring accuracy and consistency.
Reduce manual entry errors
Automated verification gives you peace of mind that your partners are legitimate from the start.
Reduce manual entry errors
Automated verification gives you peace of mind that your partners are legitimate from the start.
Boost Vendor Onboarding Efficiency
Is your vendor onboarding process slow, cumbersome, and bound to emails and spreadsheets?
Our automated vendor management software streamlines the entire process, getting vendors up and running quickly and efficiently.
Simplified workflows
Automate onboarding tasks like document collection, contract management, and account setup, reducing bottlenecks.
Simplified workflows
Automate onboarding tasks like document collection, contract management, and account setup, reducing bottlenecks.
Eliminate delays
Instant notifications and automated approvals ensure no steps fall through the cracks.
Eliminate delays
Instant notifications and automated approvals ensure no steps fall through the cracks.
Eliminate maverick spend
Invitation workflows can require approval for all new vendors, channeling usage to already vetted and approved vendors.
Eliminate maverick spend
Invitation workflows can require approval for all new vendors, channeling usage to already vetted and approved vendors.
Gain visibility
Track every step of the onboarding process in real time, so you’re never in the dark about vendor status.
Gain visibility
Track every step of the onboarding process in real time, so you’re never in the dark about vendor status.
Stop Vendor Fraud Before It Happens
Is hitting “send payment” a fear-stoking activity?
Our fraud prevention tools use automation to flag suspicious activity and prevent fraud before it happens.
Reduce human error
Automation takes over tedious fraud checks, ensuring that nothing is overlooked.
Reduce human error
Automation takes over tedious fraud checks, ensuring that nothing is overlooked.
Approval control
Fine-grained permissions ensure that only designated approvers can see.
Approval control
Fine-grained permissions ensure that only designated approvers can see.
Controlled process
An auditable, timestamped, compliant solution means you’ve demonstrated due diligence—a requirement for any organization looking to get favorable insurance coverage.
Controlled process
An auditable, timestamped, compliant solution means you’ve demonstrated due diligence—a requirement for any organization looking to get favorable insurance coverage.
Secure change requests
Our platform ensures all submitted updates auto-trigger a new approval workflow, including compliance and security checks.
Secure change requests
Our platform ensures all submitted updates auto-trigger a new approval workflow, including compliance and security checks.
Indemnified payments
Once our platform has deemed that everything is in order for payment, you’re off the hook!
Indemnified payments
Once our platform has deemed that everything is in order for payment, you’re off the hook!
Make Vendor Risk Management a Breeze
How much time are you spending assessing vendor risk manually?
With automated vendor risk management, you can continuously monitor and assess vendor risk without the hassle.
Continuous monitoring
Our platform monitors sanctions lists and risk factors 24/7, so you’re always in the loop.
Continuous monitoring
Our platform monitors sanctions lists and risk factors 24/7, so you’re always in the loop.
Timestamped approvals
Enhance your audit trail and reduce bottlenecks with timestamped actions to improve cycle time.
Timestamped approvals
Enhance your audit trail and reduce bottlenecks with timestamped actions to improve cycle time.
Streamline audits
Quickly generate risk reports with up-to-date data, saving hours of manual work.
Streamline audits
Quickly generate risk reports with up-to-date data, saving hours of manual work.
Multi-factor authentication adds security
MFA for vendor onboarding virtually eliminates the risk of an account takeover.
Multi-factor authentication adds security
MFA for vendor onboarding virtually eliminates the risk of an account takeover.
Verify the Burden of Vendor Compliance
Staying compliant with multiple regulations can feel like an impossible task.
Our automated vendor management platform helps you stay on top of the ever-changing regulatory landscape with ease.
Instant compliance checks
Automation ensures all vendors meet regulatory requirements and continuously runs vendors through sanctions lists.
Instant compliance checks
Automation ensures all vendors meet regulatory requirements and continuously runs vendors through sanctions lists.
Automatic updates
As regulations change, our system adapts, so you’re always compliant without lifting a finger..
Automatic updates
As regulations change, our system adapts, so you’re always compliant without lifting a finger..
Reduce risk
Proactively manage compliance issues before they escalate with automated alerts.
Reduce risk
Proactively manage compliance issues before they escalate with automated alerts.
Audit-ready documentation
Easily track and store compliance documentation, making audits a breeze.
Audit-ready documentation
Easily track and store compliance documentation, making audits a breeze.
Optimize Your Payments Strategy
Still dealing with manual, error-prone payment processes?
Tap into automated vendor management to simplify how you pay vendors, saving you time and reducing costly errors.
Marry payables to vendor onboarding
Drive preferred payment method when vendors onboard by configuring form to feature favorable payment terms—and earn rebate revenue from the very first invoice paid.
Marry payables to vendor onboarding
Drive preferred payment method when vendors onboard by configuring form to feature favorable payment terms—and earn rebate revenue from the very first invoice paid.
Faster payments
Automate payment workflows to ensure timely, accurate payments every time.
Faster payments
Automate payment workflows to ensure timely, accurate payments every time.
Reduce human error
Automation eliminates manual data entry mistakes, minimizing payment delays.
Reduce human error
Automation eliminates manual data entry mistakes, minimizing payment delays.
Increase efficiency
Streamlined payments mean less time spent on administrative tasks and more time focusing on business growth.
Increase efficiency
Streamlined payments mean less time spent on administrative tasks and more time focusing on business growth.
Indemnified payments
Your payments are always protected.
Indemnified payments
Your payments are always protected.
Customer Stories
Stephen F. Austin State University
More Efficiency, Security, and Time to Focus on Strategic Tasks
Learn MoreReady to take the hassle out of vendor management?
PaymentWorks automates the entire vendor management lifecycle—from onboarding to payments—while reducing risk, improving efficiency, and staying compliant. Let automation do the heavy lifting, so you can focus on building better vendor relationships and growing your business.
Frequently Asked Questions
What is vendor management, and why is it important for our organization?
Vendor management is the process of overseeing and coordinating interactions with suppliers to ensure efficient, reliable, and risk-free relationships. It includes everything from onboarding new vendors and managing their compliance to ensuring payment accuracy and security. Effective vendor management is essential for protecting an organization from fraud, reducing operational costs, and maintaining strong, transparent relationships with suppliers.
PaymentWorks simplifies vendor management by automating and verifying every stage of the supplier onboarding process, reducing the chance of human error and helping organizations adhere to compliance standards. Partnering with PaymentWorks allows organizations to trust that their vendor data is secure and accurate, enabling smoother transactions and stronger vendor relationships, all while minimizing the risk of fraud.
How does PaymentWorks make vendor management more secure?
PaymentWorks enhances vendor management security by providing a centralized, digital platform for supplier onboarding and verification. Traditionally, managing vendor relationships involves extensive paperwork and manual verification, which can expose organizations to fraud risks.
PaymentWorks replaces these outdated processes with a digital platform that verifies and monitors vendor data in real time, reducing opportunities for vendor impersonation and other types of fraud. Our platform automatically checks vendor data, such as banking information and tax IDs, against third-party databases, ensuring that only legitimate vendors are added to your system. This proactive approach to vendor management keeps your data safe, reduces manual workload, and ensures that your organization stays ahead of fraudsters’ evolving tactics.
How can vendor management reduce the risk of fraud in my organization?
Fraudsters are becoming increasingly sophisticated, and vendor management plays a crucial role in safeguarding your organization’s finances. When vendor onboarding is done manually, fraud risks like business email compromise and vendor impersonation increase.
PaymentWorks addresses this by integrating rigorous, automated checks into the vendor management process, verifying vendor identity and banking details before they enter your system. PaymentWorks automates vendor management to eliminate common vulnerabilities such as email-based scams, allowing organizations to maintain robust control over their supplier data. This secure, automated approach minimizes the risk of unauthorized vendor access and fraudulent payments, helping your organization avoid costly fraud incidents.
What are the main benefits of automating vendor management with PW?
Automating vendor management with PaymentWorks offers numerous benefits that go beyond fraud prevention.
First, it significantly reduces the time and resources needed to onboard new vendors by automating verification steps that traditionally require extensive manual effort. Second, it enhances accuracy by eliminating human errors in vendor data entry, ensuring that vendor information is reliable and up-to-date. Third, PaymentWorks’ platform streamlines compliance, automatically tracking and updating any necessary documentation to meet regulatory standards. Lastly, by centralizing vendor data, PaymentWorks provides a clear, real-time view of all vendor relationships, enabling organizations to make data-driven decisions.
Overall, automating vendor management with PaymentWorks transforms the vendor onboarding process into a secure, efficient, and scalable operation, allowing organizations to focus on growth rather than administrative tasks.
Want to know more? Contact us.
