How Accounts Payable Automation Helps You Survive An Audit
Accounts payable automation is often associated with benefits such as improved efficiency, more visibility into cashflow, automate approval workflows and paperless processes. But often overlooked are the benefits automation can have on your audit.
In this guide, we look into 4 major areas in your audit and the impact of automation;
- Validity for purchases
- Duplicate payments
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Businesses now face increasing fraud risk, creating significant challenges for accounts payable teams. Last year, 78% of businesses were negatively impacted by payments fraud and suffered from financial losses, reductions in efficiency, and damage to corporate brand image.View Whitepaper