Automated Accounts Payable Accruals Process

This guide details the Auditoria SmartVendor AP Accruals, which automates the month-end supplier expense accruals process. The document outlines how the solution reduces manual effort, achieving a 30% reduction in close time and improving accrual accuracy by 20%. It describes the use of machine learning and natural language processing to create journal entries, estimate supplier accrual expenses, and reconcile data with third-party sources. The SmartBots facilitate autonomous outreach to suppliers for non-billed expenses and follow up with unresponsive vendors, allowing accounting teams to focus on more analytical tasks. The guide emphasizes the centralized view of accrual data, providing visibility into expenses and supporting compliance with audit requirements. Additionally, it highlights the rapid implementation process, enabling organizations to see value shortly after deployment. The document serves as a comprehensive resource for finance teams looking to enhance their accrual processes through automation.