6. Fraud prevention
Unfortunately, cyber-attacks and fraud attempts are the order of the day, and vendor payments are an easy target. Some payment methods, such as checks, are notoriously insecure, especially if they are processed by methods such as email, which can be easily attacked by unwanted actors.
Modern enterprise AP systems are capable of validating both supplier information and incoming invoices to automatically detect certain forms of fraud that may cause problems.
Moreover, since the communication with the bank is direct and, most importantly, encrypted, it is very difficult to intercept these messages and, in any case, fraudulent instances can be detected and the necessary actions can be taken to protect finances and data.
