Whitepaper

How Accounts Payable Automation Helps You Survive An Audit


Whether public or private, most companies receive an audit once a year and it’s often stressful for both the finance and accounting team and the organization as a whole. However, an audit can become a useful way to review your operations, ensure things are in order, and find areas where processes can be improved.

The invoice-to-pay process is well-known. However, each company has their own protocols that continually change, especially as a business grows. Growing companies are facing the age-old problem of eliminating the error-prone, manual, paper-based AP process while maintaining a lean staff. With Accounts Payable (AP) Automation, the audit process becomes increasingly easier and less painful for the entire team. AP Automation provides greater visibility into invoice and payment processing and an automatic audit trail. By integrating with your accounting package and financial institution, AP Automation is quick and simple to implement and doesn’t break your current process or workflows. And, the most important part, it assists immeasurably in preparing for and dealing with an audit.

In this guide, we break down the major areas in which AP automation will improve the audit process.

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