REPORT: Vendor Volume Has Outgrown Your Process

Scale is the new normal. 58% of organizations manage more than 5,000 active vendors. Nearly half process 5,000+ vendor data changes every year. At $50B+ in revenue, 93% manage over 10,000 vendors.

People still do the heavy lifting. 39% of onboarding transactions take more than 30 minutes of human effort. Only 16% fully automate verification of vendor banking updates.

Fraud is not hypothetical. 43% experienced an actual or attempted vendor impersonation or payment fraud event in the past 18 months. Fewer than half rely primarily on automated bank validation.

The cost is invisible. 55% can't say what vendor maintenance costs them. Those who track it report an average of $182 per maintenance event.

• How your vendor volume compares by company revenue band
• Where governance models break down, and why 53% are only partly centralized
• Which data quality issues hit payments first
• Labor benchmarks per $1B in revenue, internal vs. outsourced
• The best-practice model only 32% of organizations use today

AP and accounts payable leaders · Procurement and vendor management teams · Shared services and GBS leaders · Controllers and CFOs

Data quality is a business issues, not just a data issue. Want to learn more about how trusted supplier data is a strategic enterprise capability?

Try the Self-Guided Demo

The Hackett Group surveyed procurement and finance leaders on how they govern, onboard and maintain vendor data. 78% of participating organizations have more than $1B in annual revenue. 57% of respondents hold executive or director-level roles. 76% operate globally.

PaymentWorks delivers trusted vendor identity, not just vendor onboarding. Serving as a secure front door to the ERP, its platform combines vendor onboarding and maintenance, compliance verification, ACH fraud-risk transfer, and check-to-digital payment conversion. PaymentWorks helps organizations create and maintain trusted vendor records while improving efficiency, visibility and control throughout the vendor lifecycle.

Its vendor identity network brings this vision to life by enabling payees to establish an authenticated credential that can be reused across connections. Automated verification, continuous compliance monitoring, secure banking validation, and vendor self-service help reduce manual effort, strengthen data quality, mitigate fraud exposure and support more efficient electronic payments.