challenge. It is a time-consuming task that often involves a lot of manpower. An automated workflow enforces 3-way matching effortlessly since all documents are categorized electronically.
Paper Becomes the Problem In any organization, paper can lead to fraud. Hard copy invoices, pay stubs and employee documents are prone to theft. And if these confidential items are not disposed of properly, sensitive information is lurking in trash bins available to prying eyes. An automated accounting practice means hoards of documents are never stashed away in a storage room or back office. All information is on a secure IT system, protected with data encryption and password verification. It is nearly impossible to implement effective security controls on hard copies, apart from hiding the documents in a storage unit with lock and key.
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