Vendor Validation Setup and Management Guide

This guide provides detailed instructions on the setup and management of Vendor Validation, a tool designed to identify incomplete and erroneous vendor data. It begins by explaining the initial setup process, where users may encounter errors and alerts as part of the validation workflow. The guide outlines how to verify a vendor's Tax Identification Number (TIN) with the IRS, check against the Office of Foreign Assets Control (OFAC) Sanctions List, and validate addresses using Google Address Validation. It emphasizes the importance of establishing criteria for blocking vendor payments based on validation outcomes, distinguishing between warnings and errors. The document also recommends bulk validations for managing large vendor lists, advising users to process validations in smaller groups to avoid system overload. The guide concludes with best practices for maintaining accurate vendor data and encourages periodic re-validations to ensure ongoing data integrity.