smartvm is a powerful data validation and enrichment platform designed to optimize third-party data management. It taps into over 1,000 trusted data sources and 250 million company golden records to provide the most accurate and complete data for your vendor master. This platform ensures that your data stewards spend less time on manual work and more time on strategic tasks, improving master data quality and accelerating supplier onboarding.

Features

• Continuous Monitoring: Real-time surveillance of vendor data to protect against critical events such as fraud and financial risk.
• Trusted Data Sources: Validations directly from the source of truth, including tax IDs, bank ownership data, insurance coverage, and prohibited checks from OFAC, Interpol, and the UN.
• Compliance Risk Mitigation: Immediate notifications for flagged suppliers to ensure compliance and protect against fines.
• Accurate Data: Integration with the most trusted data sources to keep customer and vendor data accurate, including tax ID/VAT, bank information, diversity status, and addresses.
• Enrich Third-Party Data: Automated enrichment to provide additional information such as industry codes, diversity status, locations, and employees.
• Scored for Age: Data trust scores reflect the accuracy and age of validated data.

Benefits

• Best Possible Vendor Data: On-demand technology-driven vendor master maintenance solution to validate, enrich, and continuously improve vendor records.
• Duplicate Record Removal: Enhance financial resilience by eliminating the risk of overpayments and maintaining an error-free vendor master.
• Regulatory Compliance: Streamlined compliance processes to mitigate business risks and boost regulatory adherence.
• Efficiency: Reduce manual labor and risk of non-compliance fines with automated tax ID/VAT validation.
• Supplier Diversity: Identify and enrich supplier data with diversity data integration for accurate reporting.
• Risk Identification: Accurate data on supplier locations to identify risk in the supply chain during environmental or geopolitical events.