Automated Accounts Payable Accruals Process

This document is a technical report on the Auditoria SmartVendor AP Accruals solution, which automates the month-end supplier expense accruals process. It outlines how the solution reduces close time by 30% and improves accuracy by 20%, while minimizing compliance risks. The report details the functionality of SmartBots, which utilize machine learning and natural language processing to automate supplier outreach, estimate accruals, and generate journal entries. The SmartBots streamline the process by eliminating manual tasks, allowing finance teams to focus on value-added activities. Additionally, the report describes the centralized view of accrual data, providing visibility into expenses and facilitating easier communication with auditors. The solution is designed to improve cash performance and reduce the time spent on administrative tasks, ultimately enhancing the efficiency of finance operations. The report emphasizes the importance of having a single source of truth for supplier accrual estimates and the benefits of automation in financial reporting.