PaymentWorks and E&I Cooperative Services (E&I) recently launched a competitively solicited lead public agency (LPA) contract for supplier information management (SIM) systems. This agreement creates an avenue for E&I members in higher education and K-12 to implement secure, repeatable, transparent vendor onboarding and relationship management.
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PaymentWorks’ unique business identity platform automates the complex payee management process and eliminates the risk of business payments fraud by helping organizations make the critical shift to digital payments and secure their operations from external threats while safeguarding against existing manually intensive and error-prone processes.
“We have long championed management of the vendor master as the key to payment security,” said Taylor Nemeth, VP, Strategy for PaymentWorks. “With higher education and school systems prime targets for fraudsters— even before COVID-era workplace interruptions— we know E&I members are attuned to the risks they are facing with vendor management every day.”
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Through this contract, E&I members can take advantage of several important benefits including automated verifications, ensuring compliance and Uniform Guidance, easy interfacing with any ERP system, fraud prevention, and competitive E&I member pricing.
“We are pleased to offer our members the comprehensive services available through PaymentWorks, while also delivering expertise on vendor management and the associated compliance and payments risks,” said Judy Schaffer, Vice President, General Products & Services at E&I.
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