--- title: | vendor master (2) description: vendor master | (2) --- [![PaymentWorks](https://news.paymentworks.com/hubfs/PaymentWorks_February2020/images/logo.svg)](https://www.paymentworks.com/) - How it Works - - [Overview](https://www.paymentworks.com/how-it-works) - [Why it Matters](https://www.paymentworks.com/why-it-matters) - - For Payers - See how they do it at: - [University of Kentucky](https://www.paymentworks.com/case-studies/kentucky/) - [Hackensack Meridian](https://www.paymentworks.com/case-studies/hackensack-meridian/) - [Johns Hopkins](https://www.paymentworks.com/case-studies/johns-hopkins/) - [Frequently Asked Questions](https://www.paymentworks.com/faq/payers/) - [Request a Demo](https://www.paymentworks.com/schedule-demo) - For Payees - [Frequently Asked Questions](https://www.paymentworks.com/faq/payees/) - [Join PaymentWorks](https://www.paymentworks.com/accounts/register-payee/) - About - - [About Us](https://www.paymentworks.com/about-us/paymentworks/) - [Our Partners](https://www.paymentworks.com/about-us/partners/) - [Work Here](https://www.paymentworks.com/about-us/work-here/) - [Blog](https://blog.paymentworks.com/) - [Press](https://news.paymentworks.com/press) - [Refer A Lead](https://share.hsforms.com/1NZzs6_82R52Z5GNpdHp4tA49idv) - Contact - - - - - Sales - [info@paymentworks.com](mailto:info@paymentworks.com) - - Support - [support@paymentworks.com](mailto:support@paymentworks.com) - - - Press - [press@paymentworks.com](mailto:press@paymentworks.com) - - HQ - [info@paymentworks.com](mailto:info@paymentworks.com) - 51 Sawyer Road Suite 310 Waltham, MA 02453 - [Sign In](https://www.paymentworks.com/accounts/login/) [Payees Join Here](https://www.paymentworks.com/accounts/register-payee/) - [Sign In](https://www.paymentworks.com/accounts/login/) - [Payees Join Here](https://www.paymentworks.com/accounts/register-payee/) ![banner-image](https://news.paymentworks.com/hubfs/PaymentWorks_March2020_Blair/images/paymentworks-hubspot-banner_v2-04.png) ## PaymentWorks News ## [Dirty Little Secret – Business Payments Fraud Is Real & It’s Coming For You: Actionable Ways to Mitigate Risk](https://news.paymentworks.com/press/dirty-little-secret-business-payments-fraud-is-real-its-coming-for-you-actionable-ways-to-mitigate-risk) Posted by [PaymentWorks Staff](https://news.paymentworks.com/press/author/paymentworks-staff) on Nov 24, 2020, 11:10:00 AM *Our CEO Thayer Stewart recently published a column in PaymentsJournal.* # Dirty Little Secret – Business Payments Fraud Is Real and It’s Coming For You: Actionable Ways to Mitigate Risk Today Each day, financial institutions see hundreds of thousands of payments come in and hundreds of thousands of payments go out. And with humans still at the epicenter of these transactions–tasked with authenticating and authorizing payment is in fact going to the right vendor–businesses are left vulnerable to increasingly savvy fraudsters.  Read the entire article on [PaymentsJournal.](https://www.paymentsjournal.com/dirty-little-secret-business-payments-fraud-is-real-and-its-coming-for-you-actionable-ways-to-mitigate-risk-today/) 0 Comments [Click here to read/write comments](https://news.paymentworks.com/press/dirty-little-secret-business-payments-fraud-is-real-its-coming-for-you-actionable-ways-to-mitigate-risk#comments-listing) Topics: [payments fraud](https://news.paymentworks.com/press/tag/payments-fraud), [AP](https://news.paymentworks.com/press/tag/ap), [vendor master](https://news.paymentworks.com/press/tag/vendor-master), [risk](https://news.paymentworks.com/press/tag/risk) ## [PaymentWorks Presents Risky Business Episode 4: Where's My Vendor](https://news.paymentworks.com/press/paymentworks-presents-risky-business-episode-4-wheres-my-vendor) Posted by [PaymentWorks Staff](https://news.paymentworks.com/press/author/paymentworks-staff) on Nov 17, 2020, 10:00:00 AM [PaymentWorks Presents Risky Business Episode 4: Where's My Vendor?](https://podcasts.apple.com/us/podcast/risky-business-wheres-my-vendor/id1580993090?i=1000532288544) From changes stemming from COVID to what keeps them up at night, listen to Wendy Grayauskie from Villanova University and Miguel Silva from California State University Monterey Bay share what life is like on the front lines of vendor management. ![PaymentWorks Presents-guest-Episode4](https://news.paymentworks.com/hs-fs/hubfs/PaymentWorks%20Presents-guest-Episode4.jpeg?width=480&name=PaymentWorks%20Presents-guest-Episode4.jpeg) Listen to the full podcast [here](https://podcasts.apple.com/us/podcast/risky-business-wheres-my-vendor/id1580993090?i=1000532288544). Read the blog [here](https://blog.paymentworks.com/where-is-my-vendor?hs_preview=ODxgixVg-36607910187). 0 Comments [Click here to read/write comments](https://news.paymentworks.com/press/paymentworks-presents-risky-business-episode-4-wheres-my-vendor#comments-listing) Topics: [higher education](https://news.paymentworks.com/press/tag/higher-education), [procurement](https://news.paymentworks.com/press/tag/procurement), [vendor master](https://news.paymentworks.com/press/tag/vendor-master) ## [Preventing Fraud is the Immediate Need](https://news.paymentworks.com/press/preventing-fraud-is-the-immediate-need) Posted by [PaymentWorks Staff](https://news.paymentworks.com/press/author/paymentworks-staff) on Oct 19, 2020, 11:57:00 AM *DistillINFO recently interviewed our CEO, Thayer Stewart on the risks of payments fraud in healthcare.* ***Preventing Fraud is the Immediate Need*** When health care organizations rely o n static “vendor forms” to collect information from third-parties – it exposes them to risk. Where there is a manual process, there is plenty of room for mistakes. The vendor set-up and maintenance process is fundamentally flawed because it relies on people making (largely uninformed) judgements- such as ‘do I change this vendor’s bank account based on this email request?’ Additionally, vendor relationships run through procurement, AP, risk, insurance, diversity and individual business units, with no clear owner at most organizations. Who ultimately is responsible for the verification of the vendor’s info? You can read the entire interview at [DistillINFO](https://www.distilnfo.com/itadvisory/2020/10/19/preventing-cyber-fraud-is-the-immediate-need/). 0 Comments [Click here to read/write comments](https://news.paymentworks.com/press/preventing-fraud-is-the-immediate-need#comments-listing) Topics: [payments fraud](https://news.paymentworks.com/press/tag/payments-fraud), [ACH](https://news.paymentworks.com/press/tag/ach), [vendor master](https://news.paymentworks.com/press/tag/vendor-master), [risk](https://news.paymentworks.com/press/tag/risk) ## [PaymentWorks Presents Risky Business Episode 3: Matt Klein](https://news.paymentworks.com/press/paymentworks-presents-risky-business-matt-klein) Posted by [PaymentWorks Staff](https://news.paymentworks.com/press/author/paymentworks-staff) on Oct 13, 2020, 4:42:58 PM [PaymentWorks Presents Risky Business Episode 3: Matt Klein Answers the Million Dollar Question About Coverage](https://podcasts.apple.com/us/podcast/risky-business-the-million-dollar-question-about-coverage/id1580993090?i=1000532172816) Matt Klein, National Fidelity Product Leader at Willis Towers Watson, breaks down the world of insurance and coverage for losses stemming from social engineering frauds. He walks us through the exacting claims process, what questions you should ask your insurance provider right now, and what business leaders will need to do to prepare for such attacks.   ![PaymentWorks Presents-guest_Episode3_v2](https://news.paymentworks.com/hs-fs/hubfs/PaymentWorks%20Presents-guest_Episode3_v2.jpg?width=600&name=PaymentWorks%20Presents-guest_Episode3_v2.jpg)Listen to the full podcast [here](https://podcasts.apple.com/us/podcast/risky-business-the-million-dollar-question-about-coverage/id1580993090?i=1000532172816). Read the blog version [here](https://blog.paymentworks.com/matt-klein-answers-the-million-dollar-question-about-coverage). 0 Comments [Click here to read/write comments](https://news.paymentworks.com/press/paymentworks-presents-risky-business-matt-klein#comments-listing) Topics: [payments fraud](https://news.paymentworks.com/press/tag/payments-fraud), [podcast](https://news.paymentworks.com/press/tag/podcast), [vendor master](https://news.paymentworks.com/press/tag/vendor-master), [risk](https://news.paymentworks.com/press/tag/risk) [Previous](https://news.paymentworks.com/press/tag/vendor-master/page/1) [All posts](https://news.paymentworks.com/press/all) ## ![META Full Logo](https://news.paymentworks.com/hs-fs/hubfs/Branding/Logos/META%20Full%20Logo.jpg?width=300&name=META%20Full%20Logo.jpg) New and Happenings related to:  - **Eliminating** your risk for payments fraud - **Reducing** your costs - **Ensuring** your compliance ### Recent Posts ### Posts by Tag - [payments fraud (14)](https://news.paymentworks.com/press/tag/payments-fraud) - [vendor master (14)](https://news.paymentworks.com/press/tag/vendor-master) - [risk (13)](https://news.paymentworks.com/press/tag/risk) - [higher education (8)](https://news.paymentworks.com/press/tag/higher-education) - [compliance (7)](https://news.paymentworks.com/press/tag/compliance) - [partners (7)](https://news.paymentworks.com/press/tag/partners) - [AP (6)](https://news.paymentworks.com/press/tag/ap) - [podcast (6)](https://news.paymentworks.com/press/tag/podcast) - [#paymentsfraud (5)](https://news.paymentworks.com/press/tag/paymentsfraud) - [ACH (5)](https://news.paymentworks.com/press/tag/ach) - [identity (3)](https://news.paymentworks.com/press/tag/identity) - [Cyber Security (2)](https://news.paymentworks.com/press/tag/cyber-security) - [procurement (2)](https://news.paymentworks.com/press/tag/procurement) - [banks (1)](https://news.paymentworks.com/press/tag/banks) - [insurance (1)](https://news.paymentworks.com/press/tag/insurance) See all #### How it Works [Overview](https://www.paymentworks.com/how-it-works) [Why it Matters](https://www.paymentworks.com/why-it-matters) #### For Payers - See how they do it at: [*Hackensack Meridian*](https://www.paymentworks.com/case-studies/hackensack-meridian/) [*University of Kentucky*](https://www.paymentworks.com/case-studies/kentucky/) [*Johns Hopkins Enterprises*](https://www.paymentworks.com/case-studies/johns-hopkins/) - [Frequently Asked Questions](https://www.paymentworks.com/faq/payers/) - [Request a Demo](https://www.paymentworks.com/schedule-demo) #### For Payees - [Frequently Asked Questions](https://www.paymentworks.com/faq/payees/) - [Join PaymentWorks](https://www.paymentworks.com/accounts/register-payee/) #### About [About Us](https://www.paymentworks.com/about-us/paymentworks/) [Our Partners](https://www.paymentworks.com/about-us/partners/) [Work Here](https://www.paymentworks.com/about-us/work-here/) [Press](https://news.paymentworks.com/press) #### Contact Us - Sales [info@paymentworks.com](mailto:info@paymentworks.com) - Support [support@paymentworks.com](mailto:support@paymentworks.com) - Press [press@paymentworks.com](mailto:press@paymentworks.com) - HQ [info@paymentworks.com](mailto:info@paymentworks.com) ##### 51 Sawyer Road Suite 310 Waltham, MA 02453 © 2014 - 2021 PaymentWorks, Inc. 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