Invoice Compliance in Accounts Payable Automation

In the digital era, it’s very challenging to maintain compliance with legal and taxation protocols without putting in place an automated AP process. With manual or partially automated invoice processing, the AP team has a tall task in entering and verifying all the invoice data into the AP system while ensuring reliability, consistency, and efficiency.


71% of companies reported manual data entry and inefficient AP processes as one of their top pain points - Levvel's Payables Insight Report 1

Understanding the Accounts Payables process and implementing best practices is crucial in tackling compliance issues within your invoice processing cycle. Not only that but addressing such problems also leads to savings that improve your bottom line.

During an audit, the last thing you want is not to know where an invoice and its supporting documents are stored or see erroneous payments that don’t correspond to a genuine invoice. Being compliant means your Accounts Payable (AP) team should have superior governance & business process controls to drive improved accountability and reporting standards. Let’s look at what it is like for the AP team to be compliant.

Top Compliance Pain points for the Accounts Payable (AP) team

Many AP teams struggle to ensure compliance adherence across the company. They cannot retrieve the necessary document, follow its path, and generally lack a considerable amount of transparency to pinpoint the changes made and by whom. Here are some other pain points:

Read more https://www.applexus.com/blogs/compliance-in-invoice-processing

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