Apr 28, 2016
Reason #3: Improved Compliance and Control
The Association for Financial Professionals recently reported that 61% of companies experienced payment fraud; 27% reported that payment fraud was on the rise. Automated AP processes can deliver processes controls and monitoring that are unachievable with manual processes, limiting users to authorized functions while ensuring that invalid invoices are flagged and reported.
In addition to controlling access and monitoring compliance, automated AP solutions can radically reduce the time and effort required to deliver clear, timely audit trails for all payment decisions and AP transactions. When it comes to AP automation, it’s possible to ensure compliance as a natural part of the process, delivering instant access to auditors of all data, documents and decisions that were part of the payables process.